🤔What is AI Steam?
Last updated
Last updated
Speaker 1 00:06 - 00:09 AI Steam, especially based on the Solana blockchain.
Speaker 2 00:09 - 00:18 That's what I find interesting. Their whole approach is that they are not just another AI company; oh no, they want to be the AI platform on Solana. For everyone.
Speaker 1 00:18 - 00:26 Exactly. Users, developers, anyone—they are building a whole Steam ecosystem, a series of products. All interconnected.
Speaker 2 00:26 - 00:28 Trying to build their moat, so to speak.
Speaker 1 00:28 - 00:43 We actually got excerpts from their business plan, along with some really cool visuals. Let's dive into their first product—Steam Search. They are going head-to-head with ChatGPT, claiming to be faster and cheaper, focusing on everything related to Solana. What do you think?
Speaker 2 00:43 - 00:53 No doubt, it's bold. They are betting that specialization is key. Highly specialized knowledge in the Solana ecosystem is more valuable than general-purpose AI.
Speaker 1 00:53 - 00:58 Interesting. Instead of asking ChatGPT a broad question like the history of blockchain.
Speaker 2 00:58 - 01:08 You could use Steam Search to find similar content. The latest developments in the Solana DeFi space include:
Ecosystem Expansion: The number of decentralized finance (DeFi) projects on Solana continues to grow, covering lending, trading, stablecoins, and more.
High Performance and Low Cost: Solana's high throughput and low transaction fees make it an ideal platform for DeFi applications, attracting a large number of users and developers.
Cross-Chain Integration: The interoperability of Solana with other blockchain networks has improved, facilitating the cross-chain flow of assets and data.
Innovative Projects: A wave of innovative DeFi projects has emerged, such as decentralized exchanges (DEXs), liquidity mining platforms, and synthetic asset issuance platforms, driving further development in the DeFi space.
Regulatory Compliance: As the global regulatory environment changes, DeFi projects on Solana are actively exploring compliance pathways to ensure the sustainability of their projects.
Community and Governance: The active engagement of the Solana community and the improvement of governance mechanisms provide strong support for the long-term development of DeFi projects. Because they focus on Solana, they believe they can deliver more relevant results faster.
Speaker 1 01:08 - 01:19 They claim the prices are also cheaper. In comparison, a search query costs about $3.80, while ChatGPT costs $20. But does cheaper necessarily mean better in this case?
Speaker 2 01:19 - 01:32 That's a million-dollar question. They are building a vector database using information from the Solana ecosystem. GitHub repositories, trading data, you name it, even Telegram chat logs. Can you believe it?
Speaker 1 01:32 - 01:33 Well, they are indeed exploring comprehensively.
Speaker 2 01:33 - 01:37 They believe this targeted approach gives them a speed and relevance advantage.
Speaker 1 01:37 - 01:52 I get it. It's like choosing a specialized search engine for a specific research area. You are more likely to find what you need quickly. Okay, interesting approach. Next is the Steam Router. Honestly, this sounds more technical.
Speaker 2 01:52 - 01:57 Yes, it has a bit of a behind-the-scenes feel. You can think of it as an AI pipeline system on Solana.
Speaker 1 01:57 - 01:58 Pipeline engineering?
Speaker 2 01:58 - 02:07 Yes, it's a middleware service that ensures the smooth and efficient operation of AI models on the blockchain. Basically, it's all about reducing friction for developers.
Speaker 1 02:07 - 02:14 Okay, to make it easier for those building these AI tools. But isn't there already something similar? OpenRouter, right?
Speaker 2 02:14 - 02:24 You're right, OpenRouter does something similar. But AI Steam has indeed reached a lower rate point. They are leveraging the unique advantages of the Solana payment system to reduce costs.
Speaker 1 02:24 - 02:31 Leveraging their strengths, I like it. Alright, now let's talk about the Agent Store. Things are starting to get really interesting.
Speaker 2 02:31 - 02:35 This is their app store for AI agents.
Speaker 1 02:35 - 02:41 So, if you need an AI that can do something, like automate your trading or conduct some research for you.
Speaker 2 02:41 - 02:43 Exactly. They want to equip everything with an AI agent.
Speaker 1 02:43 - 02:47 There are a lot of AI agents. How do they plan to produce so many products?
Speaker 2 02:47 - 02:59 Well, they have a clever system to incentivize developers. Imagine creating an AI agent and then minting it as an NFT. You subscribe to access your agent and earn revenue through those subscriptions.
Speaker 1 02:59 - 03:05 Oh, interesting. So you're not just selling AI agents directly; you're building a recurring revenue stream.
Speaker 2 03:05 - 03:10 Exactly. Of course, as a developer, you can also benefit from the appreciation of the NFT.
Speaker 1 03:10 - 03:16 Smart. I guess AI Steam will take a cut from these transactions. Classic platform business model.
Speaker 2 03:16 - 03:28 Right. Create a marketplace that connects buyers and sellers and takes a small commission. The real challenge is attracting a large user base and a diverse pool of developers. But they can do it.
Speaker 1 03:28 - 03:30 This agent store could be a game changer.
Speaker 2 03:30 - 03:31 It could be, yes.
Speaker 1 03:31 - 03:40 So we have this Steam Search, Steam Router, and this Agent Store. It sounds like they are building a complete ecosystem here, not just a single product.
Speaker 2 03:40 - 03:45 Exactly. And they are further developing to create a more traditional trading market.
Speaker 1 03:45 - 03:46 Oh, really?
Speaker 2 03:46 - 03:59 Okay, go on. Imagine a marketplace, but it's not for crafts or digital art; everything is about algorithms and datasets. Even dedicated AI processing hardware.
Speaker 1 03:59 - 04:01 Wow, that's really niche.
Speaker 2 04:01 - 04:02 Very much so.
Speaker 1 04:02 - 04:12 So, if I am a developer working on AI trading bots, I could potentially find everything I need in one place. Pre-trained algorithms, the hardware needed to run them, all of that.
Speaker 2 04:12 - 04:21 Absolutely. A one-stop platform for AI on Solana. But wait, there's more. They also support Steam Cloud storage, which is very important.
Speaker 1 04:21 - 04:26 Okay. Now you've piqued my interest. Just tell me straight. What is Steam Cloud?
Speaker 2 04:26 - 04:34 But it's not just a storage space. They will have that too. The real transformation lies in their plans to aggregate computing power.
Speaker 1 04:34 - 04:39 Wait, wait. Explain to me. In this context, why is aggregating computing power so important?
Speaker 2 04:39 - 04:43 Imagine you have a fantastic recipe, right? You have all the ingredients ready, everything is set.
Speaker 1 04:43 - 04:45 Okay, I get it.
Speaker 2 04:45 - 04:57 But you don't have an oven. This is a situation many AI developers face. They have the ideas and the data, but they lack the raw computing power needed to train and run complex AI models.
Speaker 1 04:57 - 05:09 Ah, because training those AI models is computationally expensive, right? So Steam Cloud is like providing everyone with an oven, or maybe a whole network of ovens, so everyone can bake their own AI cakes.
Speaker 2 05:09 - 05:22 That's a perfect analogy. By aggregating computing power and providing access through their platform, they are eliminating a huge barrier to entry. Especially for developers who can't afford to build or rent supercomputers.
Speaker 1 05:22 - 05:32 Popularizing AI development on Solana. I love it. But let's talk about the obvious question—money. Launching such an ambitious project requires a lot of funding. How are they financing the whole project?
Speaker 2 05:32 - 05:42 They are launching their own token. But it's not just to raise funds. A significant portion of the tokens is allocated to what they call strategic reserves.
Speaker 1 05:42 - 05:51 Strategic reserves. Okay. So what exactly are strategic reserves in this context, and how do they reflect AI Steam's long-term strategy?
Speaker 2 05:51 - 05:58 It tells me they are in it for the long haul. They are serious about expanding their market share. These reserves provide them with flexibility.
Speaker 1 05:58 - 05:59 Flexibility for what?
Speaker 2 05:59 - 06:10 Partnerships or even potential acquisitions down the line, or to weather those inevitable market downturns. It's a strategic move for long-term stability and growth. They are preparing for the future.
Speaker 1 06:10 - 06:19 Okay. So they are thinking long-term. I like that. When can we really see all of this come to fruition? Far-off future, next year?
Speaker 2 06:19 - 06:24 They actually set a timeline in their business plan. Oh yes. And it's ambitious, to say the least.
Speaker 1 06:24 - 06:25 Go ahead, I'm listening.
Speaker 2 06:25 - 06:29 They plan to launch the token by December 2024.
Speaker 1 06:29 - 06:33 Wow, that's a tight timeline. A lot to accomplish in a very short time.
Speaker 2 06:33 - 06:41 Of course. You know how these timelines are; they are often idealistic. Delays happen, especially in the blockchain and AI space. These things take time.
Speaker 1 06:41 - 06:57 Okay. We've experienced quite a few delays in this field too, haven't we? But let's be optimistic for a second. Suppose they really pull it off. Launch all these products and list the token. Everything goes according to plan. What would happen then? What does success look like for a company like AI Steam?
Speaker 2 06:57 - 07:11 That's a million-dollar question, isn't it? Their success hinges on a few things. First and foremost, Solana itself needs to succeed. If Solana can't become a major player, AI Steam will face challenges. Their fates are closely intertwined.
Speaker 1 07:11 - 07:14 So if Solana goes up, they go up; if Solana goes down.
Speaker 2 07:14 - 07:21 Exactly. It's a package deal. The second thing is they need to attract developers and users to the platform. It's a two-sided market.
Speaker 1 07:21 - 07:28 The classic chicken-and-egg problem, right? Without users, developers won't come. Without cool AI assistants, users won't come.
Speaker 2 07:28 - 07:39 Absolutely. They need to find a way to break this cycle and build momentum. Perhaps they can attract some well-known developers early on and offer some enticing incentives for early adopters.
Speaker 1 07:39 - 07:47 And there's also the issue of keeping up with the neighbors, right? AI is evolving rapidly; today's cutting-edge technology becomes yesterday's news.
Speaker 2 07:47 - 07:56 Of course. It's not just about delivering on their current promises. It's about continuous innovation. Can they stay ahead in a rapidly changing field?
Speaker 1 07:56 - 08:03 Even if they can execute this grand plan, long-term success is not guaranteed.
Speaker 2 08:03 - 08:10 That's the reality of the tech world, especially in a vibrant field like AI. High risk, high reward.
Speaker 1 08:10 - 08:27 High risk, for sure. But that's what makes the whole issue so intriguing and worth delving into, right? So where do we go from here? We've examined their products, strategies, timelines, everything. What's the verdict? Should people be ready to invest in the AI craze?
Speaker 2 08:27 - 08:33 Whoa, hold on. We've only scratched the surface. There are many questions to answer before considering an investment.
Speaker 1 08:33 - 08:38 Like what? Give our listeners some homework. What should they research? What should they think about?
Speaker 2 08:38 - 08:48 First, I want to know more about the team. Who are the people behind this AI craze? Do they have the actual experience to pull this off? A little background check wouldn't hurt.
Speaker 1 08:48 - 08:49 Yeah, that makes sense.
Speaker 2 08:49 - 09:02 And then I want to dive into the regulatory environment. Crypto regulations are a moving target. And then you have AI, which faces its own challenges in this space. How will they navigate all of this?
Speaker 1 09:02 - 09:07 Yes, caught in the crossfire of regulations. That's never a good thing. Alright, what else? One more.
Speaker 2 09:07 - 09:16 Financial data. How much have they raised? What is their burn rate? A solid business plan is great, but sustainable financial backing is essential.
Speaker 1 09:16 - 09:20 Absolutely. No money for fuel, no rocket ship.
Speaker 2 09:20 - 09:21 Exactly.
Speaker 1 09:21 - 09:26 Alright, with the team, regulations, and finances in place. Is there anything else? Or are we done?
Speaker 2 09:26 - 09:37 One more thing, competition. The AI space is highly competitive. Numerous giants and ambitious startups are vying for dominance. AI Steam needs to prove it can stand out among many competitors.
Speaker 1 09:37 - 09:56 It's like a jungle out there. But you know, all this talk about competitive market dynamics really makes you think about the bigger picture. It makes you wonder, if AI really pulls this off, could it be the beginning of something big? A shift away from the pursuit of all-powerful, mega-scale AI platforms.
Speaker 2 09:56 - 10:04 It's possible. If we end up with many smaller, more specialized ecosystems replacing a few giant AI platforms?
Speaker 1 10:04 - 10:16 Each platform based on different blockchains, serving specific industries, like one for finance, one for healthcare, one for gaming. Each with its own AI tools and agents, all tailored to that specific niche market.
Speaker 2 10:16 - 10:24 Absolutely. This specialization could unleash tremendous potential. We can foresee that the development of AI will become more widespread and competitive. Beneficial for everyone, indeed.
Speaker 1 10:24 - 10:34 Alright, I'm convinced. The AI craze is definitely worth watching. But even if they execute every step of the plan perfectly, there's no guarantee it will be smooth sailing, right?
Speaker 2 10:34 - 10:43 Not at all. They are building on Solana, so if Solana runs into trouble, they will be affected too. At the same time, attracting developers and users is also a challenge. Both are essential.
Speaker 1 10:43 - 10:55 It's a two-sided market. You need creators and consumers. Besides that, they need to ensure they are offering something truly unique. Something that stands out in the industry.
Speaker 2 10:55 - 11:01 Well said. It's a high-risk game. But it also has the potential to change the game entirely.
Speaker 1 11:01 - 11:11 So, after delving into AI Steam's business plan, all the potential opportunities and challenges, what do you hope the audience takes away from this?
Speaker 2 11:11 - 11:26 I think the biggest takeaway is that we are still in the early stages of the AI and blockchain world. What AI Steam proposes is just the tip of the iceberg of possibilities. It's a glimpse into the future where these two powerful technologies will merge in ways we haven't yet imagined.
Speaker 1 11:26 - 11:36 Whether AI Steam ultimately succeeds or fails, the ideas they are exploring—the vision of decentralization and specialized AI—are worth watching.
Speaker 2 11:36 - 11:38 Absolutely. The story is just beginning.
Speaker 1 11:38 - 11:51 With that, we conclude our in-depth exploration of AI Steam. We discussed their ambitious plans and potential impacts, as well as what it might mean for the future of AI. Thank you for joining us on this journey to explore this vibrant and specialized field.