NEAR Is Betting Everything On AI Agents | Roundup

**Xavier** (0:00)
There's a big narrative right now near, I think, of AI, and I think everyone listening to this podcast can see that. The question really is like, okay, are there agents actually using this right now?

**Mike** (0:08)
Hey everyone, quick disclaimer before we get into today's episode. Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely our opinions, not financial advice. Our guests and I may hold positions in the company's funds or projects discussed.
What's going on, everyone? Welcome back to another episode of Bell Curve. You got me and Xave. This week, we have dropped the deadweight. It is the only, it's the 2A players on the show.

**Xavier** (0:41)
Just kidding.

**Mike** (0:43)
Myles can't make it today, but it'll be a good one. We're talking about, you know what? I think the theme of the next couple of months will be positivity in crypto.
What do you say to that, Xavier?

**Xavier** (0:57)
Sounds good. Hello to all listeners.
Yeah, no, I'm very much looking forward to some more optimism. I've had a few takes the last few months where it's been, yeah, it's been hard times. I think everyone in the industry can admit that. Definitely, there's been some easier times in crypto. There are some people coming and going and ideas changing, but there's a few things happening, including something we'll talk about on the show today, which I think are some little rays of light, which I think can get us out to the end of the tunnel. So yeah, like if you believe in four year cycles, which I definitely do, then we have three or four months left of pain. So I typically try and take painkillers when I have the pain. And I think one of the best remedies for pain can be, yeah, looking at what's working in a space and also potentially not just what's working, but also like where it's gonna go in the next few years. Because I was saying to Mike pre-show that in private markets right now, a lot of pre-seed companies in particular, there's some really great ideas using crypto. So I think this is giving me hope alone that there are some great teams to come out in the next 12, 18 months. And I think this new cycle is really starting right now. It's been six months of sort of understanding AI, how it impacts crypto, obviously regulation as well. But I think now we're almost in July, second half of the year. And I think second half of the year is going to be a lot more optimistic than the first half. So good to kick things off with this show.

**Mike** (2:21)
I agree. I agree.
I also, we were talking about it before the show, but just for listeners, I think part of the reason why, I mean, there's just a four-year cycle pricing dynamic going on here, but we had a lot of ideas in crypto, everything's a meme, fees don't matter, all that stuff. And a lot of the early joiners of crypto joined for reasons that are sort of being invalidated or semi-invalidated, or if you were an adrenaline junkie gambler, crypto is the best place for you, but now that's not the best place. It might not be the best place for that anymore. I don't know, maybe it still will, and we'll eat these words and they'll be selling dumber than meme coins and come back. Who knows? But I think that the skill sets that are being rewarded right now, longer-term or value creation on the fund side, helping businesses scale, and then scaling and consolidating businesses, those are skill sets that haven't really... They didn't line up with some of the early joiners of crypto, so I think there's an ideological unfurling, and then there's also the price action. But the good news is all that stuff is going to get fixed, because we have no option but to build our way out of this, and we will. So that's exciting to me. I remain, that's still my framework for what's happening right now.
And I think it's exciting.

**Xavier** (3:38)
Yeah, I mean, absolutely. I think we spoke last podcast about the period now where there's a lot of scaling businesses, obviously including Blockworks itself, you know, an amazing crypto company still scaling, and many teams now, I mean, you see it in the data as well. There's a lot more funding going to sort of series A, series B, than pre-seed and seed. I think this is kind of maybe shortish term for the next 6-12 months. I could see that continuing, but I do think probably in 12-18 months time, you'll see more pre-seed funding again as we enter this new cycle. But yeah, it's exciting. I think, I know Mike, you really like this sort of scaling era of crypto, which I'm also extremely bullish on, and actually making sure that the technology gets adopted. At the same time, as a more venture investor, I think it's also really exciting. Some of the teams I'm speaking to now are really pushing the limits when it comes to blockchain technology itself. And Mike and I were speaking pre-show about how I'm going a bit more into sort of research mode and looking at some research coming out, whether that's to do with blockchain infra or agents or quantum or whatever it is. I think we will have a kind of new research phase, I think, for crypto in the next year or two in particular, especially as quantum comes and AI continues to improve. So there's a lot of stuff at both ends of the spectrum, I think, when it comes to consolidating businesses, scaling businesses, as well as new types of ideas in new markets. So I think it's actually a very interesting time to be staying in crypto, staying in the course. And obviously still massively big on AI and following that actively every day. But I think for those left and those listening to this podcast too, like, congratulations, you're one of the very few left in the crypto industry. And I think hopefully you'll be handsomely rewarded in the next year or two.