Chain of Thought

State of the Swarm (I): AI Agents & Swarm Economies


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Picture a world where millions of AI agents roam the digital frontier—negotiating deals, allocating capital, and making real decisions without human oversight.


A world stitched together not by monoliths, but by swarms: fast, decentralized, unstoppable.


In this episode, we crack open the next phase of AI: autonomous agent economies. From the lessons of ancient Silk Road bazaars to the emergence of crypto-powered AI swarms, we explore how wallets, smart contracts, and DeFi protocols are transforming agents from simple tools into full-blown economic actors.


This is the new frontier: open, chaotic, rich with opportunity. And it’s unfolding faster than anyone expected.


Full research at chainofthought.xyz.


Join us as we map the coming swarm.

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Chain of ThoughtBy Teng Yan