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Teng Yan & Joshua Ho: Weekly AI Edge #3

GM! Welcome to Chain of Thought, the best research on decentralised AI in the crypto space. You’re in great hands.

In this X edition of our weekly AI Edge, we cover:

• Ora Protocol and Allora both completed funding rounds
• Summary of Balaji’s Crypto x AI talk
• Project spotlight – MyShell AI
• Our favourite tweets on X

🦍 State of the Market..

The chop continues with the Crypto x AI total market cap at $28.6 billion today, pretty much the same as last week. Probably the quietest it’s been in group chats and on X in a long while. GCR, where art thou?

 📊 Chart of the Week

Autonolas

Source: Dune @jhackworth

From January of this year, the number of Autonolas AI agent transactions has doubled. Autonolas’ 453 agents now complete over 38k weekly transactions. It’s a tiny number still, but it suggests that there is demand for AI agent activity.

In the future, AI agents will probably make up much of the total on-chain activity. It’s just a question of when.

🏆 Caught Our Eyes..

• Ora Protocol raises $20M from Polychain, HF0, Hashkey Capital, and SevenX ventures. Here is more background on founder Kartin Wong
• Allora closes a $3M round from Polychain, Delphi Digital, Archetype. And partners with Ritual to share models and inference
• Atoma and Sphere One partner to develop AI agents on the blockchain
• KIP Protocol and Rido Protocol are building a trusted data trading ma