Crypto companies spent a decade convincing humans to use their products. Failed spectacularly. Pivoted to AI agents.
The infrastructure era arrives. That's what they're calling it. Not the desperation era. Not the we-ran-out-of-retail-suckers era. Infrastructure. Sounds important. Sounds inevitable. Sounds like something a venture capitalist says right before he writes a check to a company that will be defunct in eighteen months.
AI agents will reshape demand. Read that sentence again. Agents that don't exist will create demand for products nobody wanted in the first place. This is the business model. Build rails for passengers who haven't been born. Charge tolls on roads nobody drives on. Call it forward-thinking.
The second growth engine. Interesting phrase. Implies the first engine worked. It didn't. The first engine was retail traders buying dog coins at 3 AM and losing their rent money. That engine sputtered out sometime around November 2022 when everyone realized they'd been sold JPEGs of monkeys for the price of a Honda Civic.
But AI agents are different. AI agents are sophisticated. AI agents will execute complex transactions across multiple blockchains while you sleep. AI agents will also need to pay gas fees apparently. In crypto. Using tokens. That you buy. From the companies building the infrastructure. For the agents. That don't exist.
The technical setup here is pristine. Resistance at the level of basic logic. Support at the level of venture capital fumes and pure delusion. The moving average of common sense crossed below the exponential average of desperation three quarters ago.
Some poor f*cking robot is going to wake up one day with a wallet full of Ethereum and no idea why.
Photo by Michael Förtsch on Unsplash
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