June 11, 2024

Nevermined and Olas join the peaqosystem

What is happening?

Nevermined, a decentralized payments protocol for AI agents, and Olas, a platform that lets anyone own a share in an autonomous AI agents economy, are joining forces with peaq to start a new era of AI-powered devices and DePINs. 

Why is it important?

This collaboration is set to unlock fully-functional Web3 AI agents for DePINs building on peaq, powering entire economies of machines interacting and transacting autonomously to ensure maximum value for their owners.

What does it mean for the community?

You will be able to integrate your devices with autonomous AI agents that can interact with the real world, access and analyze live data to make decisions, and take actions benefiting both the network and yourself. 

Agents of change

By now, we’ve all had a chat or two with either ChatGPT or some other AI chatbot. And while its current capabilities are already hands-down impressive, imagine the transformative impact artificial intelligence would have if it could autonomously interact with the real world. Would you say no to an AI personal assistant booking the cheapest flights for your next family vacay or ordering groceries whenever you run low?

That’s exactly what AI agents are all about — bringing AI into the real world. But to make this a reality, we need to enable AI to interact with value-creating, real-world devices. These can range from solar panels selling green energy to a city’s power grid to vehicles flagging potholes for municipal authorities, and beyond. And thanks to its vibrant and diverse ecosystem of DePINs and connected devices, peaq is the perfect place to build this future on.

Which is exactly what’s happening as Nevermined and Olas join the peaqosystem. 

Nevermined is a decentralized payments protocol for AI agents, while Olas is a framework for launching and co-owning AI agents running as part of entire AI-powered economies. Together with peaq, Nevermined and Valory (on behalf of Olas) will work on bringing the AI agent vision to life through R&D and mutual integrations. 

peaq will provide the backbone, powering decentralized ownership and management of value-creating devices connected to various DePINs. Nevermined will work as the PayPal for AI agents, enabling them to transact without human involvement. Olas will provide the framework for launching agent economies and their co-ownership by communities through Web3 means.

The collaboration will unlock fully-functional Web3 AI agents for DePINs building on peaq, complete with a payments system and a launch framework. Through these integrations, DePINs will be able to outfit the devices on their networks with AI agents, making them more autonomous and efficient, while making DePIN business models even more scalable. Imagine a refrigerator paying a microwave oven at a neighbor’s house for using its excess energy capacity. At the intersection of AI, Web3, and IoT, this becomes possible.

Nevermined, Valory, and peaq (as well as a DePIN currently in stealth mode) are already collaborating on a pilot project in the energy space meant to highlight the opportunity that comes with using AI agents in DePINs. Other hypothetical use cases the collaboration may power include:

  • Smart power DePINs using AI agents on devices to adjust their consumption to the grid workload and user preferences, while selling off any excess energy to the grid
  • Smart farming DePINs using AI agents and sensors to optimize the irrigation and nutrient delivery to maximize the yield
  • Smart parking DePINs using AI to predict demand and optimize the use of parking infrastructure on the network, auctioning off parking spaces based on autonomous vehicle demand
  • Drone delivery DePINs using AI to optimize their routes and delivery times while also tapping the data from devices for predictive maintenance.
“AI agents have the transformative potential beyond our wildest dreams, but a payments system tailored to their unique needs is a must for that potential to come to life. With peaq, the layer-1 for DePIN, and Olas, the Web3 AI framework, we will provide the crucial building blocks for the AI-Commerce revolution, bringing agents into the real world.”

— Don Gossen, co-founder and CEO at Nevermined
“AI is one of the most powerful technologies of recent memory, especially in the form of autonomous agents. I am excited about the solutions peaq, Olas technology, and Nevermined can bring to real-world machines and other devices, which stand to gain tremendously in terms of added functionality from the integration of AI and autonomous agents.”

— Ralph Pahlmeyer, Head of Business Development at Valory
“AI-imbued machines are already accounting for more and more value creation in real-world economies. With Nevermined and Olas, we are creating the framework for moving this process on a Web3 foundation and opening it for anyone to join — a path towards a more egalitarian automated economy that works for everyone, not just for the 1%.”

— Till Wendler, co-founder of peaq

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