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The inaugural Solana AI Hackathon concluded on Monday.

More than 400 projects threw their hats into the ring for competition Offering cash prizes but more importantly the potential for lucrative interest in so-called AI agents, which are currently flooding social cryptocurrency feeds.

Many participants already had tokens trading with a market cap worth millions of dollars, and agent assistants for cryptocurrency trading as well as “swarms” of artificial intelligence agents were interesting categories.

The winners of the hackathon, organized by SendAI, will be announced around January 10, Yash Agarwal, co-founder and CEO of SendAI, told me. A list of participants and relevant details are expected to publish Later today.

Hackathons are popular in Solanaland, but what makes this product unique is the number of racer tokens that are actually in circulation. The total market cap of Solana AI agent hackathon tokens has exceeded $200 million, Agarwal told me. This is approximately the size of the native token of the Solana DeFi Orca protocol.

One such project is FXN, the so-called AI swarm whose native token briefly reached $70 million in market capitalization after its launch around December 11. It currently has a market cap of approximately $44 million, according to DEX Screener.

FXN is a protocol that allows multiple AI agents to work together to accomplish more than a single agent can, according to a white paper dated October 3, 2024. The white paper presents a model use case for a group of agents that essentially acts as a social media marketing company to create content. Social and promotion.

The popularity of artificial intelligence agents tied to cryptocurrency tokens has increased after the presence of a social media chatbot with a token It went viral in October. The number of participants in the hackathon, which was announced only two weeks before its start, confirms the extent of the competition for mind-sharing among crypto-artificial intelligence projects.

Many of the projects share a “similar focus” of creating “an intelligent interface to the Solana ecosystem,” Potato, the anonymous lead developer of a hackathon called Project Plutus, told me.

They added that users don't need AI bots carrying out actions they can do themselves, which is why Project Plutus built an AI companion that watches charts and can trade while users are away.

There seem to be a lot of brokers focused on trading based on the initial list shared with me by the hackathon organizers.

“The Solana AI Hackathon highlights how cross-chain trading and decentralized finance are emerging as key segments for AI customers. These use cases are likely to drive innovation in Q1 and Q2 2025.” books.

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