A Review of AI Development in the Web3 Field: From Concept Hype to Practical Applications

In recent years, the intersection of Web3 and artificial intelligence has triggered multiple waves of enthusiasm in the crypto market, showing a trend of gradually transitioning from pure conceptual speculation to technological exploration. This article will review the five main waves of Web3 AI projects, with a focus on the latest fifth wave trend.

First Wave: The Rise of AI Concept Coins

At the beginning of 2023, the explosive popularity of ChatGPT sparked limitless imagination in the cryptocurrency market regarding the prospects of "AI + Blockchain." A batch of early AI concept tokens such as Fetch.ai(FET), SingularityNET(AGIX) saw their prices soar, initiating the first wave of market activity. This phase is characterized by old projects seizing the opportunity to tell new stories, but the actual product implementation is limited, with the price increase mainly driven by market sentiment and anticipation of the AI mega trend.

Second Wave: AI Meme Coin Craze

With the onset of the crypto bull market at the end of 2023, some meme projects have begun to integrate AI elements, giving rise to a wave of AI meme coins. A typical example is $TURBO, touted as the first meme token created by AI. The core characteristic of this wave is that AI has become a buzzword integrated into the crypto subculture, but in essence, these tokens have no actual AI technology content and are merely community games based on speculative concepts.

Wave Three: AI Agent Meme and the GOAT Myth

In the second half of 2024 to early 2025, the fusion of AI and blockchain narratives reaches a new height, the concept of AI Agents(AI intelligent agents) rises. The explosive popularity of the $GOAT token becomes a landmark event, wrapped in the story of "the genesis of AI intelligent agents." During this period, various AI agent themes emerge, but most projects remain at the narrative stage, lacking real technological breakthroughs.

The Fourth Wave: The Rise of AI Ecosystems and Agent Infrastructure

By the end of 2024, a wave of AI projects focusing more on technology and ecological construction will emerge, such as ai16z and Virtuals. These projects aim to create an AI Agent infrastructure, becoming the "app store" for AI agents in the Web3 space. Although they have attracted significant investment and attention, the actual user base and revenue have not kept pace with valuations, leading to a significant decline in the value of most projects when the market cools down in early 2025.

Fifth Wave: A Hundred Flowers Blooming Towards Practical Applications

In early Q2 2025, the Web3 AI sector is experiencing a resurgence, showing a diversified trend closer to practical applications. Emerging projects cover multiple directions including AI Agent platforms, dedicated AI ecosystems, and decentralized data value storage. Here are a few representative cases:

Zerebro

As an AI agent project within the Solana ecosystem, Zerebro focuses on a decentralized content generation and agent deployment platform. Its "Zentients" platform allows users to generate and issue AI agents with one click, while the ZEREBRO token serves as a service fee and value return medium. However, the project has recently sparked controversy due to the founder's "fake death" incident, which may affect its future development.

Metis's AI chain Hyperion and LazAI

The established Layer 2 project Metis officially enters the AI field, launching two AI-specific chains:

1. Hyperion: Aims to address the high-performance computing needs of Web3 AI projects and has reshaped a new chain suitable for the operation of AI and gaming projects.

2. LazAI: Plans to create a new Layer1, focusing on the value pricing mechanism of individual AI data. Its core features are "decentralized classification storage of personal data + data value pricing mechanism", aiming to change the current situation of user data abuse in the Web2 world.

This wave of emerging projects demonstrates the trend of Web3 AI moving from concept to practical application, but its actual landing effect and long-term development remain to be observed.