Author: Lao Bai, ABCDE Investment Research Partner.

It feels like this new main storyline is starting to become clearer, that is,

• PayFI
• AI Agent
• Meme

The last round was also about three main themes: Defi, Non-fungible Token, X2Earn

Just briefly explain why it is these three

The biggest theme of this round should be what Trump said in his victory speech yesterday, 'Common Sense', or Anti-narrative. The market is starting to feel disgusted with projects that only focus on technology/infrastructure, and VC and exchange are only concerned with the narrative. Projects must return to common sense - what you create should really be used and paid for by someone (Non-fungible Tokens, at least everyone can buy monkeys and punks as avatars, right?).

In the past two years, there have been a bunch of Decentralization Computing Power / model training / inference projects. Imagine if you were a serious AI startup company, would you really give up using Hugging Face and instead use Web3's 'Decentralization' Computing Power / model / inference platform instead of buying cloud Computing Power from AWS or Azure? Let's be honest, does this make sense?

Now let me explain why I think the following three lines currently make sense.

1. Payfi - Connecting the Real World

The most intensive track I've been following and discussing in the past two months is the Primary Market. It feels like many new and old Payfi projects are lurking and developing. The $11.1 billion acquisition of Stripe by Bridge can be seen as a landmark event.

What you may not have noticed or may not know is

• The PYUSD issued by PayPal has exceeded 500 million (it surged to 1 billion some time ago)
• Osmosis, scrvUSD are all working on Debit Card, and other Crypto Cards based on Ton or other chains are on the way
• Have cooperated with Visa/Master to do Supply Chain finance or accelerate Settlement
• 有直接跟银行谈绕开 Visa/Master Settlement的
• There is a POS system based on the Solana Pay framework that provides merchants with Crypto Native Payment+Defi Yield, without affecting traditional VISA/MasterCard swiping.
• There is direct on-chain + ZKTLS P2P OTC deposit and withdrawal
• Even the main logic of the bank is moved on-chain, directly landing Non-fungible Token + KYC, providing on-chain bank + traditional bank binding, which can transfer + deposit and withdraw, swipe Crypto Card, and even directly Swift to traditional bank account

A more efficient and cost-effective payment system that allows you to use your Crypto assets for card payments, as well as safer deposits and withdrawals... These are genuine user needs that have been recognized and utilized by individuals, institutions, including Web2 players. In the end, it may be discovered that Payfi is the key to achieving Web3 Mass Adoption, rather than social media or gaming.

2. Ai Agent - Enhance on-chain world

Over the past year, I've chatted about three-digit AI projects, but basically haven't done much, because I feel that the integration is somewhat stiff, even for those leading and so-called top projects. You see, when V God was interviewed about the combination of AI and Crypto last year, he was actually asked this question, and his answers were basically centered around AI helping Crypto rather than the other way around. But in the crypto world, if you want to dream, Crypto must help AI “inevitably”. So we have the so-called “model assetization”, “data assetization”, and “Computing Power assetization” in the industry standard.

To be honest, I have talked to many Web2 AI researchers and founders, and they see our three tracks as just like watching a comedy show.

The most impressive thing is that last year we talked about a Decentralization Computing Power project. The Founder very "honestly" told us that when there is a relatively large or commercialized Computing Power demand, it will be directly handed over to their centralized data center to run, and will not be given to retail investor GPU Computing Power, but it can be "packaged" as retail investor Computing Power to participate in the feeling. I have a pretty good impression of this Founder, although I didn't invest in the end.

It wasn't until the appearance of Goat this year that really caught my eye.

This is not AI Help Crypto, nor Crypto Helps AI

This is a new thing that comes from the collision of true AI and Crypto.

• AI Agent Send Assets
• AI Agent ShitPost advocate
• AI Agents form DAO
• AI Agents are responsible for managing and trading a fund.
• AI Agents Own Culture
• AI Agents own religion

This thing cannot be done by Web2 AI, nor can it be completed independently by Web3 pure Crypto.

This is, in my opinion, the best way to demonstrate the combination of AI and Crypto at the current level of AI capabilities.

About this track, I recommend two articles.

And then there's the wizard @0xcryptowizard who has also posted a lot about this track, everyone can go check out his Twi

3. Meme - on-chain casino, no more installations

Pump.Fun puts things that many people were unwilling to admit or unable to speak out because of 'political correctness' on the table.

Our circle is just a big gambling house

But in fact, there is no problem, we can finally face the fact that Cypto has a very important function for PVP, That’s OK

The problem is, it can't just be PvP

Just like what Mr. Du @DujunX said, 'If meme and tap2earn are the future of the industry, then let this industry die, fuck!'

So Meme, PVP will become an eternal track in our circle. When there are more exciting, more out-of-the-box, and more meaningful tracks and technologies, the proportion of the Meme track will be smaller and more low-key. When the industry lacks direction, becomes boring and disappointing, the Meme track will become more active and prominent, with a larger proportion.

MEME may be the "little bell" track for multiple rounds of bull and bear markets in the future - It has been, and will be always there……

The views expressed are for reference and entertainment only, NFA ：）