Bitcoin's Next Buyer Isn't Human - Yat Siu

**Scott Melker** (0:00)
What if the next crypto bull market isn't driven by people, but by AI agents? In this conversation, Yat Siu lays out a provocative thesis. AI could become the biggest catalyst crypto has ever seen, creating millions of autonomous agents that need wallets, own assets and transact on-chain. He explains why altcoins may become the commodities of the AI economy.

**Yat Siu** (0:21)
You're already spending tokens for OpenAI and Anthropic and Gemini. That's actually a spend in tokens. Right now, imagine turning that into a commodity. It's a representation of compute and energy. There's real utility. There's an actual burn mechanism that actually has purpose.

**Scott Melker** (0:34)
Why NFTs could make a surprising comeback.

**Yat Siu** (0:37)
NFTs are essentially a symbol of the wealth class in crypto. As crypto becomes wealthier again, NFTs become that status symbol. I also believe that AI agents are going to be buyers of NFTs as well.

**Scott Melker** (0:47)
Why today's crypto market is missing the one ingredient that fueled every previous cycle.

**Yat Siu** (0:52)
The other thing I think that's missing in our industry much more is, we got to bring back the fun. NFTs were fun, the metaverse is fun, gaming is fun, we got to bring that in.

**Scott Melker** (1:01)
If Yat is right, the biggest opportunity in crypto may be hiding in plain sight. Let's go.
Is this thing on? I'm newly invigorated by actually eating food. For the first time today, it was a big move for me.

**Yat Siu** (1:30)
Oh, you did it fast or something?

**Scott Melker** (1:31)
No, I just never got a chance, but I had a two o'clock break, so it was good.

**Yat Siu** (1:35)
It works too.

**Scott Melker** (1:36)
Awesome. So I was with Dan Tapiero earlier, and he told me, ask Yat about Animoca Mines.

**Yat Siu** (1:42)
Yes, yes.

**Scott Melker** (1:43)
That's what he told me. I said, give me some good insights, but I want to hear about it.

**Yat Siu** (1:47)
Yes, AI agents, yeah. Are we on? We're on. Oh, there, let's go.

**Scott Melker** (1:51)
Let's go.

**Yat Siu** (1:52)
Well, I mean, just very quickly. So Animoca Mines are now called HelloMines.AI. It's basically our agentic platform. You can basically set up your own AI agent. It's very similar to OpenClaw, with the one exception that you basically don't have to set anything up. It's just basically put it over email. It communicates with you over email, over telegram, over WhatsApp, that kind of stuff. But more importantly, it has a personality. It's more like a coworker or a friend. And now, we are still in beta. We just relaunched the website. We have thousands of skills now.
It's wild the kind of stuff that's happening. For instance, I asked him to write like a wordle game. Instead of going to New York Times just for something quickly, within 10 minutes, he just constructs a game, custom-made for me, and basically, I just played with my friends or something like that.
It just gives you a window of how the world is changing. And by the way, we think that AI agents are going to save blockchain.

**Scott Melker** (2:47)
I'm now remembering that you sent this to me in DM, and I put it on my I'm going to check this out list and didn't. So now that you've sent it to me in person, I've definitely going to check it out.

**Yat Siu** (2:56)
Well, I mean, for instance, for yourself, and how many AI agents do you think you'll have in the future?

**Scott Melker** (3:02)
I mean, incalculable. I literally think it'll be hundreds.

**Yat Siu** (3:06)
So I have 200 right now, and yes, I agree with you. So now think about it, if every human is going to have tens, if not hundreds of AI agents, then how many AI agents will we have? We're going to have hundreds of billions of AI agents. They're going to be all floating around on the Internet. They're going to basically have their own wallets. They're going to transact with each other. They're going to find stuff for you. And basically, that's actually the use case for blockchain. We're going to basically bring the billions on chain, but not because they're on chain, because their agents are on chain. They're going to do business with each other. They're going to trade things. They're going to basically also buy things from each other at basically microtransaction fees that will work with the Visa or MasterCard, but will totally work on something that's on chain.

**Scott Melker** (3:44)
Yeah, we've had these conversations now for four or five years. How did we miss the part when we were saying, how are we going to get a billion people on chain that we didn't ever need to?