Sandeep Nailwal, co-founder of Polygon, argues that cryptocurrency can speed up AI adoption by assisting startups in user onboarding through incentives. At the LONGITUDE event, he cautioned against the rise of scams in AI tokens. Illia Polosukhin from Near Protocol suggested that AI agents may replace traditional applications, while J.D. Seraphine noted a potential surge of AI agents in decentralized finance.
Cryptocurrency is poised to boost the adoption of artificial intelligence, especially for startups trying to onboard users, according to the insights shared by Sandeep Nailwal, co-founder of Polygon. In a panel discussion at the LONGITUDE event hosted by Cointelegraph, Nailwal remarked, “You can use crypto incentives and disincentives to onboard users to ecosystem players.” He highlighted the potential for projects that utilise effective on-chain incentive structures to not just grow but potentially enhance AI development itself.
The LONGITUDE series is a platform that unites leaders in blockchain and Web3 for crucial dialogues on emerging trends. On this same panel, Illia Polosukhin, the co-founder of Near Protocol, discussed the future harmony between cryptocurrency and AI, suggesting that traditional web applications could soon be phased out. He predicted that crypto-native AI agents might replace standard user interfaces, declaring, “We don’t need applications or websites anymore. Your AI becomes the interface to computing and the internet.”
However, Nailwal raised a cautionary note regarding the recent surge of AI tokens on blockchain platforms, pointing out the risks posed by numerous scams cropping up. “We know that 99% of those projects are literally token scams, but very few projects are trying to have some meaningful AI project,” he said, underscoring the need for scrutiny in this evolving landscape.
The concept of AI agents is expected to expand significantly within decentralized communities, as noted by J.D. Seraphine, co-founder of Raiinmaker. Projections from a VanEck report suggest that over a million AI agents could enter the market by 2025, many linked to decentralized finance. These agents are already influencing the digital economy by building decentralized applications, launching tokens, and interacting with users autonomously.
Nailwal warned about the monopolising potential of AI, stating, “AI is an extremely centralizing force. A few companies could become the warlords of the world.” Polosukhin echoed this sentiment, advocating for crypto-native, peer-to-peer AI solutions that he believes can foster privacy-preserving innovation in a more decentralised approach.
