# Machine Economy Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Machine Economy", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Wintermute: What Is Left to Build in Crypto?

The article argues that the foundational question for crypto has shifted. Instead of asking "what else can crypto do?", the real question is "why will the real world need crypto next?" The author's answer is the emerging **Machine Economy** – where autonomous agents and robots act as independent economic participants, making decisions, executing transactions, and initiating actions in both digital and physical worlds. Three key recent developments make this shift plausible: 1) AI models are now capable and cheap enough for autonomous, persistent action; 2) Open standards (e.g., stablecoins, Agent payment protocols) allow for composability; 3) Agents can now operate with context over long periods, changing the scale of automated activity. Crypto's core strengths—programmability, permissionlessness, fast settlement, and auditability—align well with the needs of autonomous systems, which don't fit traditional human-centric financial rails. Major platforms like Coinbase and Robinhood are already building infrastructure for Agent-based activity. However, challenges remain, primarily around **Security** (e.g., prompt injection attacks on Agent wallets) and **Attribution/Accountability** when AI-assisted systems fail. The most promising opportunities lie not in crowded foundational layers (L1s, models, exchanges) but in the connective tissue for the Machine Economy: **1) An economic layer for Agents** (handling authorization, risk, identity), **2) Physical AI** (enabling robots in structured environments like warehouses to transact), and **3) Machine-led discovery systems** (e.g., in autonomous scientific research).

marsbitYesterday 00:03

Wintermute: What Is Left to Build in Crypto?

marsbitYesterday 00:03

Casper Network Publishes the Casper Manifest, a Multi-Year Roadmap to Power Regulated Real-World Assets and the Machine Economy

The Casper Association has published "The Casper Manifest," a multi-year technical roadmap for Casper Network. Introduced at the Digital Finance Forum in Bermuda, the roadmap outlines nine coordinated initiatives designed to position the layer-1 blockchain as the infrastructure for regulated real-world asset (RWA) tokenization and the machine-to-machine economy. Key initiatives focus on: 1. **Developer Access:** Adding full Ethereum Virtual Machine (EVM) compatibility alongside its existing WebAssembly (Wasm) execution layer. 2. **User Experience:** Implementing gasless transactions, batch operations, and smart accounts with biometric authentication. 3. **Institutional Compliance & Privacy:** Building compliant security tokens aligned with the ERC-3643 standard and a multi-phase roadmap for confidential transactions with built-in audit tools. 4. **Machine Economy:** Implementing the X402 open payment standard to enable AI agents and machines to make autonomous, programmatic micropayments. 5. **Token Infrastructure:** Creating a Native Token Registry to give all tokens protocol-level status with fixed, predictable costs. 6. **Quantum Safety:** Developing hybrid accounts with both classical and quantum-resistant keys. The first initiative, X402 micropayments, is expected within weeks. Subsequent releases through 2026 and 2027 will include EVM compatibility, compliant security tokens, the Native Token Registry, gasless transactions, and quantum-safe features. The goal is to create a blockchain that is frictionless for users, trusted by institutions, and native for machines.

TheNewsCrypto05/12 13:20

Casper Network Publishes the Casper Manifest, a Multi-Year Roadmap to Power Regulated Real-World Assets and the Machine Economy

TheNewsCrypto05/12 13:20

Robotics' "ChatGPT Moment": AI Moves into the Physical World, Blockchain Accelerates the Arrival of the Machine Economy

The integration of AI and robotics is accelerating the shift from digital intelligence to physical AI, enabling machines to perceive, reason, and act in real-world environments. Companies like Figure, Tesla, and Skild AI are driving advancements in humanoid and specialized robots, supported by significant investments—such as Skild’s $14B and Figure’s $10B+ funding rounds. Key enablers include declining hardware costs (actuators, sensors, batteries), edge computing (e.g., NVIDIA Jetson), and AI "world models" that learn physical intuition from video data rather than programmed instructions. Despite progress, challenges remain: collecting real-world robotic training data is slow and costly, and simulation-to-reality gaps persist. Blockchain and tokenization offer solutions by incentivizing decentralized data contribution and enabling robots to function as economic agents—earning, spending, and distributing profits autonomously. By 2030, physical AI could transform industries and households, with robots operating via standardized platforms and skill-based "app stores." The convergence of affordable hardware, advanced AI, decentralized coordination, and edge compute promises a future where intelligent robots become ubiquitous assistants in daily life and high-risk applications.

marsbit04/17 01:16

Robotics' "ChatGPT Moment": AI Moves into the Physical World, Blockchain Accelerates the Arrival of the Machine Economy

marsbit04/17 01:16

Stablecoins Seen Powering Future AI-Driven Machine Payments

Bernstein analysts highlight the growing potential for stablecoins, particularly USDC through the collaboration of Circle and Coinbase, to power future AI-driven machine payments. These transactions are fully automated, programmatic, and executed by software or autonomous devices without human intervention. Stablecoins are deemed ideal for this use case due to their programmability, speed, micro-payment capability, and global accessibility. They enable real-time decision-making, instant settlements, and eliminate the need for traditional banking infrastructure like SWIFT or FX conversion. Companies such as Coinbase, Circle, and Stripe are already developing infrastructure to support these agentic payments, with early protocols showing initial transaction volumes. This represents a significant future growth driver for stablecoins.

TheNewsCrypto03/23 12:45

Stablecoins Seen Powering Future AI-Driven Machine Payments

TheNewsCrypto03/23 12:45

The Next Stop for Tokens: Does a Project with Cash Flow Really Need to Issue a Token?

Token's Next Stop: Does a Profitable Project Really Need a Token? Projects with clear cash flow, distribution, and compliance path may not need a token. While a Token Generation Event (TGE) can act as a global "accelerator" for growth and attention, it also introduces significant burdens like price expectation management and liquidity coordination. For many projects without real products, TGEs simply become exit strategies, harming the market. Short-to-mid-term token prices are primarily driven by three factors: liquidity, market attention, and token supply structure. The long-term value, however, depends on value capture—whether the token can effectively capture and reflect the protocol's real revenue, as seen in projects like Hyperliquid. Without a clear value accrual mechanism, tokens rely solely on speculation. The future may lie in the "machine economy," where tokens serve as a native settlement layer for autonomous agents (AIs) to pay for services like API calls, enabling pay-per-use models. This could make crypto a fundamental infrastructure for automated transactions. The current market downturn is compared to the dot-com bubble, cleansing the space of low-quality projects. The key is to build real utility and value capture, separating the functions of fundraising (equity) and network incentives (tokens).

marsbit02/24 05:38

The Next Stop for Tokens: Does a Project with Cash Flow Really Need to Issue a Token?

marsbit02/24 05:38

VCs Review 2025 Crypto Investments: Narrative is Dead, Computing Power is King

Venture capital reflects on 2025 crypto investments, declaring "narratives are dead, compute is king." Despite growth in on-chain financial tools and a favorable U.S. regulatory environment, long-term crypto investors faced a difficult year due to structural market issues, including token unlock mechanisms and speculative behavior. Public market winners were owners of physical and financial bottlenecks: power, semiconductors, and scarce compute (e.g., IREN, NVIDIA). AI value accrued to infrastructure and essential services, not speculative narratives. Tokenized networks underperformed as usage failed to translate to value capture. Key lessons: AI value is realized in infrastructure, neutrality is a key economic asset, and token networks face recurring structural challenges. For 2026, the focus shifts to machine transaction surfaces, budget-backed applied infrastructure, and high-conviction asymmetric bets. The market is transitioning from discovery to exit phases, with a temporary shift toward equity investments over tokens.

marsbit12/24 03:16

VCs Review 2025 Crypto Investments: Narrative is Dead, Computing Power is King

marsbit12/24 03:16

VC Retrospective 2025: Compute is King, Narrative is Dead

Venture Capital Review 2025: Compute is King, Narrative is Dead The article reflects on the challenging yet transformative year of 2025 for crypto and AI investments. While on-chain financial tools and the machine economy saw significant growth, long-term crypto investors faced a difficult market structure plagued by a "negative prisoner's dilemma," premature token unlocks, and a major market failure in October that triggered industry-wide deleveraging. Despite these setbacks, the value creation in crypto and AI over the past decade has been immense, far outpacing other regions and sectors. The "Magnificent 7" tech giants and crypto assets collectively added trillions in market cap. The key lesson from 2025 is that value accrued to the narratives but to the owners of physical and financial bottlenecks: power, semiconductors, and scarce compute. Public market winners were companies like NVIDIA, TSMC, IREN, and Bloom Energy. In software, value flowed to embedded, "must-have" platforms (e.g., Alphabet, Meta) rather than optional tools. In private markets, foundational AI companies grew rapidly but faced fragility, while value-controlling companies (e.g., Applied Intuition, Anduril) were better positioned. Tokenized networks were the weakest performers, as usage failed to translate into token value capture. The core takeaway is that the market rewarded ownership of choke points and punished projects lacking control over cash flow or compute. For 2026, the investment focus shifts downstream to: (1) machine transaction surfaces (payments, billing, compliance), (2) applied infrastructure with existing budgets, and (3) high-conviction, non-consensus opportunities. The allocation will temporarily favor equity over tokens until market structure issues are resolved. The author concludes that a major shakeout is coming, but it also presents significant opportunity. The need to move beyond collective illusions and focus on real, budget-backed economic activity is paramount.

比推12/23 23:11

VC Retrospective 2025: Compute is King, Narrative is Dead

比推12/23 23:11

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