On-chain Detective ZachXBT Slams AI Agent Tokens, Calls 99% Scams

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Noted blockchain investigator ZachXBT has sounded an alert about the increasing number of AI agent tokens, labeling many of them as potential scams.

AI agents are still a widely discussed subject, a prevalent storyline within the cryptocurrency world that gained momentum towards the end of 2024 and has since maintained its position as a leading sector.

ZachXBT Calls Out AI Agent Tokens

Recently on platform X (previously known as Twitter), ZachXBT criticized AI projects quite harshly, asserting that the majority of these ventures are essentially fraudulent.

He stated that most of these AI tokens are actually scams, and the deceptive practices surrounding the AI agent packages might even surpass previous fraud trends. In truth, meme coins don’t make any promises, whereas AI coins strive to pretend as convincingly as possible to seem legitimate to unaware investors.

In response to a question from Justin Taylor, a fellow cryptocurrency commentator, who raised doubts about the need for tokens for AI agents, Taylor’s post drew parallels between the current AI agent buzz and past trends such as excessively tokenized Web3 games. He pointed out that many earlier projects employed tokens primarily as marketing gimmicks, which frequently negatively impacted investors.

Justin Taylor, a fellow cryptocurrency commentator, posed a query about the usefulness of tokens for AI agents in response to which he shared his thoughts. He argued that the hype around current AI agents mirrors past trends like over-tokenized Web3 games. According to him, prior projects often utilized tokens as marketing strategies, leading to negative consequences for investors.

According to a recent survey among Solana ecosystem leaders, ZachXBT’s views correspond with the general sentiment that AI agents are excessively hyped, a perspective shared by many Solana developers, as reported by BeInCrypto.

One participant pointed out that emphasizing AI in blockchain can divert attention from the essential innovations. To them, AI applications in this field seem to be more of a trend or novelty rather than an indispensable element.

As a crypto investor, I find myself echoing ZachXBT’s reservations about the inflated claims surrounding AI agent tokens. However, it’s important to note that not everyone in this dynamic crypto sphere holds a pessimistic viewpoint. Haseeb Qureshi, the visionary founder of Dragonfly Capital, foresees a significant rise in the adoption of AI agents by 2025. He posits that these intelligent agents will revolutionize tasks such as trading, data collection, and governance voting within decentralized ecosystems, ultimately making them essential components in our future digital landscapes.

Building on this, a fresh BeInCrypto assessment of significant crypto trends in 2024 underscores AI agents as a major catalyst for advancement. It is anticipated that by the end of next year, AI agents might manage more than 80% of blockchain transactions, leading to revolutionary changes in sectors such as DeFi, NFTs, and supply chain management. These positive projections imply that despite the presence of scams, the underlying technology exhibits transformative capabilities.

Currently, the growing excitement about AI agents is already impacting financial markets. Notably, tokens such as VIRTUAL have experienced a substantial increase in value, primarily due to their connection with AI agent-related ventures.

According to BeInCrypto’s latest report, VIRTUAL’s price has jumped more than 30% in recent weeks. However, the token doesn’t seem to have a clear purpose beyond being an object of speculative interest. This trend is reminiscent of past speculative bubbles, where market excitement often eclipses practical applications.

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2025-01-06 15:12