AMA Recap: "DeFAI â Revolutionizing DeFi with AI" â XWorldâs Vision for AI-Powered Gaming Economies
On May 8th, XWorld joined AKEDO, Tomo Wallet, to explore how AI is reshaping decentralized finance (DeFi) and gaming. As the worldâs first AI gaming ecosystem, XWorld shared groundbreaking perspectives on agent-driven economies, user-generated content, and the future of Web3. Here are the key takeaways:
đŽ XWorldâs Mission: Where AI Meets Gaming & DeFi
XWorld opened with a bold vision:
"Weâre building an open ecosystem where developers, players, and AI agents collaborate to create and monetize content. This isnât just play-to-earnâitâs a new paradigm where AI drives value for everyone".
Why it matters:
10M+ app downloads and $2B revenue in 2024 prove demand for AI-powered gaming.
đĽ Hot Topics: AIâs Role in DeFiâs Future
1ď¸âŁ "Will AI Define the Next DeFi Wave?"
XWorldâs Answer: "Absolutely. AI brings automation, personalization, and intelligence to rigid systems. Imagine AI agents optimizing yields, assessing risks, or personalizing DeFi interfacesâthis is the future weâre building toward".
2ď¸âŁ Key Challenges for AI in DeFi
XWorld posed a critical question to the panel:
"Is the DeFi community ready to trust AI systems?"
Consensus: Transparency and user control are essential. XWorld emphasized:
â
Human-friendly interfaces â No 50-page whitepapers needed.
â
Explainable AI â Users should understand how decisions are made.
â
Community co-creation â Let users shape AI tools, fostering ownership.
"Think of it as a co-op gameâAI and humans as teammates".
đĄ Community Q&A: Addressing Tough Questions
Q: How does XWorld stabilize older AI agents like Aithur amid market volatility?
A: "While each agent operates independently, XWorld provides ecosystem supportâexpanding communities, tools, and use cases to drive long-term growth. Early adopters continue seeing rising mining rewards, and new opportunities emerge constantly".
Q: Whatâs next for XWorld beyond Play-to-Earn?
A: Weâre evolving into a Web3 AI gaming ecosystem. Players arenât just consumers; theyâre co-creators. AI agents enable new economies where everyone shares valueâwhether through games, DeFi integrations, or user-generated content".
đ Whatâs Coming Next?
XWorld teased upcoming expansions:
New AI agent partnerships bridging gaming and DeFi.
Enhanced tools for developers and players to monetize creativity.
Ecosystem growth: "The future is interconnectedâno more silos".
đ Closing Gratitude
Thank you to AKEDO for hosting, fellow panelists for their insights, and the community for engaging. Follow XWorld to join the AI gaming revolution:
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Pepecoin and the Rise of the Meme-Backed Currency
Memes, Dreams, and Get-Rich-Quick Schemes
Introduction
Itâs hard to have missed epic saga of Pepecoin over the past two months, and along with it, a resurgence of memecoin hype. Indeed, on May 5, Pepecoin broke through the stunning $1B market cap to become a Top 50 cryptocurrency [1]. In many respects, Pepecoinâs rise calls to mind the famously stunning rise of Dogecoin and Shiba Inu, two of the most famous memecoins in history. In fact, Pepecoin itself even pays homage to the long tradition of memecoins it descends from, writing that it will âmake memecoins great againâ [2]. So what makes a memecoin âgreatâ? And why do they exist (and even thrive) in the crypto ecosystem, in spite of their evident lack of utility?
Know Your Memecoins
Memecoins have always been a crypto novelty and oddity. Their most characteristic trait is in fact their own self-professed lack of any utility, something they wear around with a semi-sarcastic sense of pride. Even though almost anyone can create a memecoin today just with a few clicks of a button, not all memecoins are created equal. After all, a lot more people hold Dogecoin than say, âHarryPotterObamaSonicInuâ (this is an actual real coin on CoinMarketCap) [3].
Indeed, the most successful memecoins never come from humble backgrounds: they are warriors. These are memes that have fought in ferocious battles on the turbulent seas of Internet meme culture, where any cultural sensation or anything that grabs peopleâs attention, ranging from Elon Musk references (Tweelon), sex jokes (CumRocket), literal poop (PooCoin), GPT-references (PepeGPT) can all be turned into memecoins [4].
In these epic battles, only those memes that have proven their demonstrated approachability, relatability, persistence can survive. For those that do, they are rewarded with boundless glory, with glamour from the crowds, homage from the powerful, and a memecoin that will wear through even the toughest of crypto storms. And amidst all of this, perhaps Pepe does actually stand a chance of surviving, prevailing, and thriving.
Pepe the Meme Royalty
The Original Pepe meme of âFeels Good Man.â Source: https://en.wikipedia.org/wiki/Pepe_the_Frog
Pepecoin was born with a silver spoon in its mouth, as the meme of Pepe belongs (along with Doge) to a class of Internet meme royalty. Born in 2008 out of the hand of cartoonist Matt Furie, the green frog with a bulging green eyes was depicted literally urinating (pee-pee-ing) while commenting âfeels good manâ [5]. And since then, Pepe has taken off in all shapes and forms, including a sad version, a smirk version, and so many more [6].
Since its inception, the Pepe meme and the corresponding image of an ugly frog has had a distinctly counterculture and subversive connotation, in particular when contrasted with the much more sanguine Doge meme. While most usage of Pepe is very benign, this ugly frog also has a distinctly âugly side.â On 4chan and other more fringe social media platforms, the frog meme is often twisted and modified to take darker turns and sometimes embody extremist political symbols. And gradually, variants of the Pepe family of memes became staples on alt-right groups and other darker, more subversive corners of the Internet [7]. Thus, the Pepe meme exists in a massive duality: on the one hand, it exists in the mainstream as a benign counterculture image of an ugly frog with a happy or sad or smirky expression on its face. On the other, this counterculture symbol has been coopted for extremist political movements that actively cause societal instability.
This duality is what has made Pepecoin so controversial, and why it landed Coinbase in hot water after Coinbase accused the Pepe meme of being âco-opted as an alt-right hate symbol,â before later being forced to apologize and acknowledge that most mainstream uses of Pepe are non-bigoted [8]. But in the context of memecoins, they thrive on controversy and continued media attention. After all, it is precisely Pepeâs status as a longstanding meme royalty and one of the undisputed hallmarks of Internet meme culture that underwrites the value proposition for Pepecoin, and explains its eye-watering ascent to a $1 billion market cap, with a $1.87 billion trading volume at its peak.
Pepecoin Price, CoinMarketCap. Data as of May 24: https://coinmarketcap.com/currencies/pepe/
In this respect of leveraging its power as an undisputed Internet meme royalty to underwrite its value as a cryptocurrency, Pepecoin greatly resembles Dogecoin. And one could argue that there is a kernel of truth in the Pepecoin slogan of âmake memecoins great againâ and its self-proclamation of being fueled solely by âpure memetic power.â After all, as Pepe is such an important meme royalty, it is certainly conceivable that Pepecoin could stick around for quite some time, just like Dogecoin [9].
Pumps, Dumps, and the Power of FOMO
Memecoins such as Dogecoin and Pepecoin, along with their self-processed lack of any utility, are of course ripe targets for pump and dump schemes and regulations. And in many cases, âshilling shitcoinsâ is a favorite pastime for the rich.
One need to look no further to see how Elon Musk has been instrumental in shaping the fortunes of Dogecoin to see the influence of how key opinion leaders can send prices soaring to the moon [10]. After simply Tweeting âDogeâ and writing that âDogecoin is the peopleâs cryptoâ, Dogecoin prices soared 40%, and in the massive bull run of 2021, Dogecoin did a phenomenal 147.6x price increase in just over five months.
Elon Musk calling Dogecoin âthe peopleâs cryptoâ. Source.
Arguably, this ability to be pump and dumped at will by key opinion leaders is in-baked into the economic logic of memecoins. As mentioned before, memecoins monetize and gain according to how much attention and cultural capital the underlying meme (or cultural phenomenon) is able to accrue and sustain over a long period of time. Key opinion leaders such as Musk have by definition the power to single-handedly create and sustain cultural phenomenon, and thereby allow these cultural derivatives (i.e. memecoins) to gain immensely in value, and in turn, kickstart a cycle of fear-of-missing-out (FOMO) for retail investors, who want to hop aboard the get-rich-quick crypto ride.
This same logic that applies to Pepecoinâs rapid ascent over the past month or so. Although there isnât a clear single celebrity pushing Pepecoin on Twitter (as in the case of Musk and Dogecoin), from on-chain data it seems as if there have been some outsized winners with the Pepecoin hype. For example, a wallet labelled blackrock3.eth bought $244 worth of Pepecoin on April 21, and sold all of them on May 5 at its peak for $2.63 million [11].
And of course, with a pump inevitably comes a dump. Today (May 25th), exactly 20 days from its peak, Pepecoin is down 70% from its all-time-high [12]. As the attention of the memecoin inevitably dissipates and the frenzy of FOMO subsides, the price (a function of this attention) naturally also decreases. But thatâs simply the virtue or characteristic of memecoins. For a memecoin, Pepecoinâs -70% can already be considered tame and âbenign.â At least Pepecoin hasnât mimicked the fate of the âSquid Game token,â a memecoin which rode on the wave of the Netflix TV show âSquid Gameâsâ massive success in 2021. The âSquid Game tokenâ jumped from 1 cent to $2856 in a week, before plummeting to zero after its creators essentially ran away with the money earned and did a classic ârug pullâ [13]
But this volatility coming from memecoins, who self-profess that their only value comes from their memetic power, one really shouldnât be surprised â after all, they literally say âuselessâ on the label.
From the Pepecoin Website
Memechains and the Question of Utility
But what does the future of memecoins look like? Will they ever only really be objects of pure speculative bubbles? The answer actually is a bit more complicated than a simple yes or no. Memecoins by design are backed up by the potency of their underlying meme. The problem is that you can never really quantitatively measure the economic value of a meme. These, after all, are simply free JPEGs widely accessible and distributed on the Internet, and as such, obviously generate no monetary value. After all, why pay for a meme I can see, copy, and create for free?
But just because a meme does not have a price tag on it does not mean that it lacks intrinsic value. If Pepe the meme did not have any value, why would people continue to use it to this day, as a symbol for resistance, counterculture, and digital identity? This is the paradox at the center of all art, but particularly digital mementos that can be freely copy-pasted: no one doubts that they are valuable, yet there is no way to measure that value.
Memecoins, to some extent, may in fact be one way out of this problem. If a meme is a some âunquantifiable value,â a memecoin is in essence a âquantifiable un-value.â The two therefore fit together hand-in-glove, and attaches some quantifiable representation to the value of the meme behind the coin. Therefore, even if much of the memecoin mania is fuelled by speculation, I donât expect the memecoins of mainstream memes such as Pepe and Doge to ever go to zero, so long as the memes themselves still exist.
Nevertheless, there has been a frenzy in memecoin communities to add on so-called âutilityâ to these originally supposedly âuselessâ coins. This notably includes the Dogecoin communityâs Dogechain, a smart-contract executing PoS built using Polygon Edge where gas fees can be paid in Dogecoin [14], as well as the Shiba Inu communityâs Shibarium, a L2 scaling solution that recently just announced its public beta [15]. Most of these âadded utility functionsâ are centered around the classic playbook of getting a chain in order to nominally âhave utility.â But the crypto industry is already strewn with the corpses of failed chains, and today there are already too many L1 and L2 chains that are able to match and surpass the proposed functionality of something like Dogechain and Shibarium. The central problem of building a chain to inject so-called âutilityâ into these tokens is this: why should I use Shibarium and Dogechain to execute smart contracts, over say Arbitrum, Optimism, or Polygon?
Any satisfactory answer to these questions must go back to where memecoins started from in the first place â the original meme underwriting the whole memecoin, such as Doge in the case of Dogecoin, or Pepe in the case of Pepecoin. In fact, if any of these memecoin powered memechains do succeed, they likely will be some sort of a meme-focused chain, where the design of the chain leverages and magnifies the iconographic power of the meme, which in turn adds value to the memechain. Viewed through this lens, one could argue that a memechainâs long-run potential is in becoming a special sort of appchain, one that specializes in operating the underlying meme.
In the long-run, the successful operation of a memechain would likely be more similar to the operation of a successful NFT community, such as BAYC, Azuki, Nouns or Doodles, rather than the operation of an actual L1 or L2 chain like Ethereum, Arbitrum or Polygon. The focus needs to be on the underlying asset backing the memecoin in the first place â the meme â rather than the functionality of the chain itself.
This convergence and triangulation between memes, coins, and tech is arguably the most innovative and inspiring aspect of memecoins. If Pepecoin, Dogechain, and Shibarium are able to innovate out a novel governance structure that perpetuates the longevity of the underlying meme, they will undoubtedly leave a significant mark on the cultural legacy of web3. And then, perhaps, we will truly be able to âmake memes great again.â
Pepecoin making memes great again. Source.
References
[1] https://markets.businessinsider.com/news/currencies/what-is-pepecoin-pepe-memecoins-dogecoin-shiba-inu-crypto-news-2023-5
[2] See Pepecoinâs Website: https://www.pepe.vip/
[3] https://coinmarketcap.com/alexandria/article/9-funniest-memecoin-names
[4] What are Memecoins: https://www.pcmag.com/how-to/what-is-a-meme-coin-how-do-they-work
[5] https://knowyourmeme.com/memes/pepe-the-frog
[6] Derivative memes of Pepe the Frog: https://knowyourmeme.com/memes/pepe-the-frog/children
[7] https://www.thedailybeast.com/how-pepe-the-frog-became-a-nazi-trump-supporter-and-alt-right-symbol
[8] https://www.forbes.com/sites/antoniopequenoiv/2023/05/11/coinbase-apologizes-for-tying-meme-token-pepecoin-to-racist-symbols/?sh=37957e942419
[9] https://www.forbes.com/advisor/investing/cryptocurrency/what-is-dogecoin/
[10] Elon Musk and Dogecoin: https://coincodex.com/article/21927/elon-musk-dogecoin/
[11] See https://coinmarketcap.com/headlines/news/blackrock-labeled-wallet-nets-2-4m-from-pepe/. Note that while some have speculated this wallet may belong to BlackRock fund, there is no concrete evidence suggesting this to be the case.
[12] Data from CoinMarketCap, as of May 25: https://coinmarketcap.com/currencies/pepe/
[13] About the Squid Game Token Collapse: https://www.bbc.com/news/business-59129466
[14] About Dogechain: https://coinmarketcap.com/alexandria/article/what-is-dogechain-the-smart-contract-platform-for-doge
[15] About Shibarium: https://blog.shibaswap.com/introduction-to-shibarium/
[16] See the importance of community building in NFT circles such as NounsDAO: https://review.stanfordblockchain.xyz/p/nouns-dao-and-the-philosophy-of-governance
Note: An earlier version of this article incorrectly suggested that BlackRock was an institutional holder of Pepecoin based on on-chain data. The Stanford Blockchain Review regrets this error.
Edited by XWORLD: Pioneering Web3 Games & Apps Store.
Visit the official XWORLD website at www.xworld.pro and follow XWORLD on Twitter at https://twitter.com/xworld_pro to learn more.
Testnet has been launched in Southeast Asia.
Download: https://play.google.com/store/apps/details?id=pro.xworld.app
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Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
XWORLD: Ushering in a New Era of Digital Interaction with Web3 Innovations
In the ever-evolving digital landscape, the emergence of Web3 has opened up a plethora of opportunities for developers and users alike.
At the forefront of this revolution is XWORLD, a new-gen games and apps monetization platform that is redefining the way we interact with digital content. By integrating the innovative play-to-earn model, XWORLD is not only transforming the gaming industry but also setting new standards for app monetization.
XWORLD is a testament to the power of innovation in the Web3 ecosystem. It leverages blockchain technology to create a decentralized platform where developers can monetize their games and apps, and users can earn rewards for their engagement. This unique approach is a game-changer in the industry, offering a win-win solution for both developers and users.
The play-to-earn model is at the heart of XWORLDâs innovation. Unlike traditional gaming platforms where users spend money to access content, XWORLD allows users to earn rewards by playing games. This model not only enhances user engagement but also provides a sustainable revenue stream for developers. Itâs a paradigm shift from the conventional âpay-to-playâ model to a more inclusive and rewarding âplay-to-earnâ model.
XWORLD: A Catalyst for Change in the Web3 Ecosystem
XWORLDâs innovative approach is not limited to games. The platform extends its play-to-earn model to apps, offering a new avenue for app developers to monetize their content. By incentivizing user engagement, XWORLD is driving a shift in the app industry, moving away from intrusive ads and in-app purchases towards a more user-centric monetization model.
The impact of XWORLDâs innovation extends beyond the gaming and app industry. Itâs a catalyst for change in the Web3 ecosystem, demonstrating the potential of blockchain technology to create decentralized platforms that empower users and developers. By harnessing the power of Web3, XWORLD is paving the way for a new era of digital interaction where everyone can benefit.
NFTs and Digital Ownership
One of the key features of XWORLD is the integration of non-fungible tokens (NFTs) into its ecosystem. NFTs are unique digital assets that can represent ownership of in-game items, virtual land, or even digital art. In XWORLD, NFTs enable players to truly own and control their virtual possessions, giving them the freedom to buy, sell, and trade assets within the platform.
The introduction of NFTs revolutionizes the concept of ownership in the gaming world. Previously, players would invest time and effort into acquiring virtual items, only to have them locked within the gameâs ecosystem. With XWORLDâs NFT integration, players can now enjoy true ownership of their digital assets, with the ability to transfer, sell, or showcase them outside of the platform.
The Future of Games & Apps Monetization with XWORLD
As we look towards the future, the role of platforms like XWORLD in the Web3 ecosystem cannot be overstated. The play-to-earn model is not just a trend, but a fundamental shift in the way we perceive value in digital content. Itâs a model that recognizes the importance of user engagement and rewards it accordingly.
XWORLD is leading this revolution, setting a new standard for games and apps monetization. Its innovative approach is a beacon of whatâs possible in the Web3 ecosystem, offering a glimpse into a future where users are not just consumers, but active participants in the digital economy.
Join the XWORLD Movement
Are you ready to embark on a journey that transcends the boundaries of traditional gaming? Join the XWORLD movement and become part of a global community that is shaping the future of play, innovation, and financial empowerment. Visit www.xworld.pro to dive into the world of XWORLD and discover the limitless possibilities of Web3.
XWORLD offers a user-friendly interface that makes it easy for anyone to get started. Whether youâre a seasoned gamer or new to the world of gaming, XWORLD provides a seamless onboarding experience. The platform offers a wide range of games and applications, catering to various interests and preferences. From action-packed adventures to strategic simulations, XWORLD has something for everyone.
In conclusion, XWORLD is not just a new-gen games and apps monetization platform. Itâs a pioneer in the Web3 ecosystem, driving innovation with its play-to-earn model. As we navigate the digital landscape, platforms like XWORLD will play a crucial role in shaping the future of games and apps monetization. Itâs a future where everyone can play, earn, and thrive.
Stay Connected
As we navigate this digital revolution, letâs not just be onlookers but active participants. Letâs not just play games but own our gaming experiences. Letâs not just use apps but reap rewards from them. In the world of XWORLD, every interaction is an opportunity to earn, to own, and to innovate.
To stay in the loop with all the latest developments and to join the XWORLD revolution, follow XWORLD on Twitter at https://twitter.com/xworld_pro. Be a part of the change as we usher in a new age of internet usage, gaming, and app monetization. Welcome to XWORLD, where every digital interaction has the potential to transform your life.
XWORLD
New-Gen Games & Apps Monetization Platform
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