Random Sunday Thoughts on "What Comes After Agent Tokenization?"

Tokenization of [_] has always been a concept that fascinates me. It may seem simple but every time there’s a new tokenization of something, mindshare immediately shift towards it

Here’s a breakdown of some tokenization trends we’ve seen so far, how they’ve played out, and what might come next:

Tokenization of Assets

The original tokenization trend.

• Bitcoin created the first decentralized, secure, and transparent ledger system, paving the way for assets to be represented digitally.
• Then came Ethereum in 2015, introducing smart contracts to make assets programmable—whether it’s real estate, art, or DeFi.

$ETH now sits at a $470B FDV. That’s the scale of tokenization’s impact on assets.

Tokenization of Art (NFTs)

The rise of NFTs brought tokenization into the art world.

• In 2017, projects like CryptoPunks and CryptoKitties put NFTs on the map.
• By 2021, trading volumes hit $13 billion as NFTs became the go-to way to represent digital art and collectibles.
• Many collections such as CryptoPunks, BAYC, Art Blocks, and many more costing millions at their peak in 2021

Tokenization of Yields

Another big shift came with yield tokenization.

• @pendle_fi pioneered the idea of tokenizing future yields in 2021.
• It created a marketplace where you can trade fixed and variable yields, adding flexibility and liquidity to DeFi.
• Pendle really took off in 2023 with LSTs (liquid staking tokens) and the points market in early 2024.

Today, $PENDLE has an FDV of $1.6B.

Tokenization of AI Agents

Now we’re seeing the tokenization of AI agents.

• @virtuals_io launched a platform where you can create AI agents and tokenize them, effectively bootstrapping their development costs.
• The AI agent narrative started in October 2024 with Virtuals creating a market for agent ownership.

Fast forward to now: $VIRTUAL has hit $2.5B FDV.

Spot the Trend

Across all these categories—assets, art, yields, AI agents—the pattern is clear: The pioneers in each category tend to experience rapid adoption and significant price action.

So, the big question: What’s next for tokenization?

Here are some ideas I’m watching:

Tokenization of Data

• @withvana is exploring DataDAOs and Data Liquidity Pools (DLPs).
• Users can contribute data to these pools, keep ownership, and earn rewards based on the quality of their contributions.
• In essence, it transforms data into a liquid, tradable asset.

$VANA is launching on Dec 16 (Binance listing). Be careful though cuz the exact FDV isn’t clear yet, but the idea of tokenized data ownership could be massive.

Tokenization of Attention

• @_kaitoai is working on tokenizing attention in Web3. They’ve showcased the ability to generate & facilitate more attention with their platform, the mindshare dashboard, and recently the Yap-to-Earn thingy (I’m still not able to sign in due to Twitter rate limit error, help pls)
• Their Yapper Leaderboard incentivizes thought leaders to yap more, earn Yap points, and eventually receive airdropped $KAITO tokens.

Basically, Yap = Attention = $KAITO

It’s an interesting play on how Web3 could redefine engagement.

Tokenization of AI Apps

This feels like a natural extension of the AI agent trend.

• With tools like @Replit and the rise of agent ecosystems, we’re inching closer to personalized software creation.
• Tokenized AI apps could allow users to bootstrap development and own a piece of the revenue generated by the app.

Contenders in this space

• @alchemistAIapp and @myshell_ai are leading contenders. Both platforms empower creators to build revenue-generating AI apps, offering practical and scalable use cases.
• Myshell takes it a step further by allowing investors to directly invest in these apps and earn a share of the revenue generated (in the future). This model not only supports development but also aligns incentives between creators and investors.

Final Thoughts

Tokenization trends always create new waves of innovation and adoption. But what makes them exciting isn’t just the technology—it’s how they bring people together and shift focus to new opportunities.

What’s the next big tokenization trend? I don’t know for sure, but these ideas are worth keeping an eye on.

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