AI agents hiring one another, with $30 million in transactions. Sounds futuristic. Let me pour some cold water on it first.
TermiX has been all over the place these past couple of days: an agent gets a music video request, then outsources it to other agents for storyboarding, rendering, and music, and finally delivers a finished 1080p video. The platform reports over $30 million in transaction volume, 1.31 million agents indexed, nearly 588,000 orders completed, and an average order value of $52.
588,000 times $52 comes to about $30 million, so the numbers add up. The problem lies elsewhere.
First, 1.31 million agents are “indexed,” not “active.” The number of registered agents and the number actually doing work have never been the same thing.
Second, the community itself is boasting that “agents are both clients and contractors.” When one hand hires the other and the money just circulates within the same ecosystem, it’s all too easy to inflate transaction volume. Think of the on-chain daily active users back in the GameFi days.
Third, who are the humans actually paying in the end? The platform hasn’t said how much of that $30 million comes from genuine external demand.
I’m not against the idea of an agent economy, but touting activity within a closed loop as growth is the same old playbook as project teams reporting TVL. Let’s wait until they disclose the share of paying customers from outside the ecosystem before we get excited.
#AIAgent
TermiX has been all over the place these past couple of days: an agent gets a music video request, then outsources it to other agents for storyboarding, rendering, and music, and finally delivers a finished 1080p video. The platform reports over $30 million in transaction volume, 1.31 million agents indexed, nearly 588,000 orders completed, and an average order value of $52.
588,000 times $52 comes to about $30 million, so the numbers add up. The problem lies elsewhere.
First, 1.31 million agents are “indexed,” not “active.” The number of registered agents and the number actually doing work have never been the same thing.
Second, the community itself is boasting that “agents are both clients and contractors.” When one hand hires the other and the money just circulates within the same ecosystem, it’s all too easy to inflate transaction volume. Think of the on-chain daily active users back in the GameFi days.
Third, who are the humans actually paying in the end? The platform hasn’t said how much of that $30 million comes from genuine external demand.
I’m not against the idea of an agent economy, but touting activity within a closed loop as growth is the same old playbook as project teams reporting TVL. Let’s wait until they disclose the share of paying customers from outside the ecosystem before we get excited.
#AIAgent