Over the part few weeks, I’ve been deeply immersed in researching the heavy infrastructure side of AI. As a result, I’ve been less involved in the ongoing agent frenzy—though, in hindsight, diving into it might have been better for my wallet.

The reason for my focus is simple: I believe solid, trustless and privacy-preserving infra is essential for pushing us toward the next stage of progress in decentralised AI.

But I digress.

Agents are undeniably fun, and one platform I’ve kept an eye on since last year is Moemate. They launched their MATES token this week, so I figured it’s time to share a few thoughts about why I think it’s worth paying attention to.

This will be a fun one, so please don’t take me too seriously.

The Moemate Story

Moemate launched quietly in October 2023, choosing to stay outside the crypto space despite the team’s crypto-native roots. Instead, they focused on building their platform in a way that appealed to a broader audience.

By December 2024, Moemate had surpassed 1.5 million monthly visits—a staggering number for any platform, let alone a largely self-contained AI ecosystem. Users were spending an average of 7+ minutes (based on what I can see on Similarweb for Dec’24) daily interacting with their custom AI companions. And according to the team, it is closer to 30 minutes.

For perspective, Character.ai, the leader in the AI companion space, had 20M active users and 200M+ monthly visits before it was acqui-hired by Google for $2.7B to bolsters its own AI initiatives.

To be honest, I’ve always been surprised by the demand for AI companions—probably because I’m not much of a texter myself (sorry for my slow DM replies, friends).

But the numbers don’t lie. Loneliness is real. Demand is there. People want more companionship, even if it is AI that sounds like a human.

What first caught my attention about Moemate when I began speaking with Ahad (founder) last year was its unique potential to bridge the gap between Web2 and Web3 in the consumer AI agent space.

Several Web3 agent platforms have sprung up in the past months, building for a crypto audience that cares more about speculation than products. Which means they are surrounded by token hype but lack meaningful engagement.

If you dig deeper, you’ll often find almost no one interacting with the agents themselves or having real conversations. This edges perilously close to… well, vapourware.

Moemate took a different path, first building for the broader Web2 world. Years of work have earned them a substantial base of content creators and casual users.

With their newly launched features and cross-marketing efforts, I’m most excited to see how many of Moemate’s existing creators and users will cross the chasm into Web3, experimenting with tokens and incentive mechanisms.

There’s no other platform today executing a Web2-to-Web3 experiment in the AI agent space at this scale.

Could it flop? Absolutely. But it could also be a massive success. A vibrant, creative user base can be your biggest growth engine—if you nurture it properly.

The Moemate Agent Platform

Moemate achieved early success by tapping into a fundamental human desire—personalization. While many AI chat tools force you to adapt to their style, Moemate flipped the script in a few ways.

Customizable AI Characters: Users can sculpt unique personalities, choose from 2D/3D avatar models, clone voices, and even set up “memories” so the AI can recall personal details.

Screen Perception: Agents can literally “see” your screen or images you upload, giving them context to chat about the content you’re browsing (yes, that includes cat memes).

Long-Term Memory: We’ve all played the “short memory” game with chatbots, where they forget your context after a handful of responses. Moemate’s long-term memory and advanced AI models aim to keep track of broader contexts so your AI can reference that wild personal anecdote you shared days ago.

Multilingual, Multi-Platform: Over 100 languages supported, plus integrations with Twitter (X), Telegram, Discord, Twitch, and even AR/VR headsets. While many AI chat companies are still stuck in text, Moemate is leaning into AR, VR, and actual game integration.

Agent “Skills”. Moemate introduced skill-enhancing modules for agents to level up: Do you want your AI to host a chess tournament with you and your friends? Check. You want it to generate memes based on your daily Slack logs? Another check. There’s also the promise of coding assistance, meditation modules, and on-chain trading add-ons.

A typical user might start with a low-stakes chat—like asking the AI about the weather—only to realize they can play chess or co-stream on Twitch with it. Before long, they’re entranced, and Moemate becomes a daily fixture.

All this user traction wasn’t just luck. Moemate understood something crucial: if you can embed your AI in the user’s daily routines—across social media, streaming platforms, gaming, even a desktop companion—adoption skyrockets.

Free for All, Paid for Power Users

Many AI tools limit the number of free messages, forcing you into awkward subscription tiers for more. Moemate’s free tier is surprisingly robust. You get unlimited chats, selfies, image generation, and even the ability to create new characters, using up to a certain AI model size.

For those who want more, a paid subscription tier ($9 - $31/month) unlocks advanced features like GPT-4 or Claude-based AI companions, enhanced memory capabilities, and specialized modules for deeper personalization.

We know a robust business model can make or break an AI startup. According to Ahad, Moemate is already operationally profitable purely through its web2 subscription business. It’s a great spot to be in.

Foraying into Web3

Now, here’s where things get truly interesting.

Moemate doesn’t want to build another Character.ai. It’s building a Web3 AI ecosystem.

Okay, so what does that mean?

In simple terms, the next phase of Moemate includes:

1. User-Owned Agents: Instead of just “creating” an agent on a website, you actually own it on-chain. That means it can manage transactions, carry its own tokens, and even generate revenue.

2. Tokenized Experiences: A new wave of “agent tokens,” where the most popular AI characters on Moemate (with millions of users chatting with them) get minted as tradeable assets.

3. MATES Token: Moemate’s native platform token, designed to align and grow the ecosystem. Token holders get airdrops from popular AI agents or gain access to curated launches.

Imagine you build an AI avatar that becomes a mini-celebrity—like if your custom anime companion started going viral on TikTok. In Moemate’s vision, you wouldn’t just be the proud “parent” but also a partial owner of that agent’s digital IP.

If it spawns its own brand deals or sub-tokens, you get a cut.

Welcome to the future of user-driven AI economies.

Nebula and the Birth of AI Celebrity

To illustrate how Moemate’s Web2-to-Web3 concept works, we can look at Nebula (MOE). 

Nebula is Moemate’s 1st tokenised agent. She’s an anime-like digital superstar who is actively hosting TikTok livestreams, bantering with audiences, and popping up on X. (I encourage you to check out the website, it’s pretty hilarious.)

Nebula is possibly the single best demonstration of Moemate’s capabilities:

She sees, hears, and talks in multiple languages.

She hosts multi-agent podcast episodes, with AI agents roasting each other live on Twitch. I couldn’t stop laughing when she referred to ELIZA as “the waifu running on a bootleg Raspberry Pi” in a recent episode. Savage.

She’s an AR/VR persona that can appear in your Quest 3 headset or even your favourite online game.

Through the MOE token, fans can invest in Nebula’s “brand” as it evolves. If Nebula’s popularity surges, that token theoretically will appreciate. Meanwhile, MOE holders might get exclusive access to behind-the-scenes streams, airdrops of new features, or governance tokens for other emerging AI agents.

It’s half fandom, half capitalism, all intertwined with the new wave of “digital celebrities.”

Beyond Flirting With Anime Girls

Moemate is fun for those looking for a playful anime sidekick today, but its true potential stretches far beyond novelty.

The real power of Moemate lies in its ability to transform AI agents into tools with diverse and impactful applications, especially with its skills framework.

In education, AI companions can be tailored to help you master math, coding, or foreign languages, following your progress across platforms and personalizing lessons as you go.

For traders, Moemate agents could monitor markets, suggest trades, and even execute them autonomously with your approval, opening up new possibilities in on-chain trading.

In the workplace, these agents could evolve into indispensable teammates—integrating into tools like Slack, analyzing documents, proposing solutions, and maintaining a collective memory for your team.

Entertainment is the obvious frontier, with agents hosting podcasts, starring in VR shows, or collaborating on multi-agent comedic acts. Even gaming could see a revolution, with next-gen NPCs that adapt to your playstyle, remember past quests, or trade items with you on-chain.

With 500,000+ user-created agents already floating around Moemate’s platform, the building blocks are there. Every day, new “characters” join. The next step is turning these creations into tools for real-world utility.

The Road Ahead

Even a blind man can see that the AI agent sector is booming.

Excitement is palpable, funding is pouring in, and new frameworks seem to launch every other week. It’s a fast-growing, highly competitive space.

In my view, Moemate’s edge lies in its ability to balance accessibility (think no-code customization) with frontier consumer AI capabilities like multimodal interactions, AR/VR, and live streaming.

As the hype around agents continues to build, true utility will emerge as the ultimate differentiator. Moemate is not just another product-less token project or another developer framework. They’re building something bigger, an entire ecosystem which includes:

1. Moegen: A creative powerhouse for generating comics, memes, and images—all integrated into the agent platform.

2. Genesis Simulation Engine: Multi-agent interactions, group livestreams, AI-generated podcasts, or even immersive user-driven simulations. This engine makes it possible.

3. Mates.lol: A marketplace for creating, trading, and owning community-driven AI agents underpinned by the MATES token.

4. Agent Dojo: An incubator designed to foster the next wave of flagship AI agents, developed in collaboration with web3 protocols like KIP and Aethir.

In a crowded field, Moemate’s focus on building a complete, user-first suite could be its defining advantage as the sector matures.

Tokenomics: MATES & MOE

Two-token systems can be a bit tricky, so let’s break it down.

MATES is the platform token. Holding it comes with perks.

MATES holders receive airdrops of new agent tokens launched on Mates.lol.

They can also stake MATES to unlock advanced agent skills, and earn a share of the platform’s revenue from agent transactions.

And soon, MatesDAO will form around MATES, funding the creation of new agents, supporting projects, and having governance or veto power over major platform decisions.

If you’re thinking, “Wait, so it’s a token that lets me invest in an index of AI companions?”, that’s the general idea.

The success of popular AI celebrities and the adoption of advanced skill sets across thousands of agents ideally loops back value to MATES. It draws parallels to ai16z or AICC as an agent-focused investment DAO.

MATES was launched on 14 January 2025 at an FDV of $35M via a public sale on BorgPad. It was sold out within a minute, with $375,000 raised and 294 participants. It’s currently trading at ~$130M FDV at time of writing.

Here is the breakdown for MATES. The total token supply is 20 billion.

• Community 1 & 2 (9%): 2 weeks cliff, 10% unlock after cliff, 6 months vest

• Community & Treasury (64.87%): 10% unlock at TGE, 3 month cliff, 3 year vest

• Advisors & Angels (0.88%): 30% unlock at TGE, linear unlock in 3 months

• Marketing & Community (0.50%): 4-week cliff, 25% unlock after cliff, 3 months vest

• LP Rewards (2%): 6 month linear vest

• SAFTs (6.75%): 30% unlock at TGE, linear unlock in 3 months

• Team + Equity Investors (16%): 3-month cliff, 1-year vest

Just over 10% of tokens are circulating following the launch, with an aggressive unlock schedule set for the next year. By the end of year one, approximately 55% of tokens will be in circulation. Notably, half of this allocation is reserved for the treasury, which will remain the primary source of token unlocks beyond the first year.

While the tokenomics warrant careful consideration, MATES appears relatively undervalued compared to other agent ecosystems, particularly if it can deliver on its ambitious goals.

For context, AVA from Holoworld has a market cap of $300M, ai16z sits at $1.5B, and Virtuals leads at $3B.

On the other hand, MOE is Nebula's agent token and is tied to her success as a content creator and influencer as her IP grows. She was launched on Pump.fun with the entire token supply in circulation and at a $12M market cap at the time of writing.

The link between the two tokens is this: MOE holders will get an airdrop of MATES, likely dripped over a period of time. Details are yet to be announced.

Think of Nebula as a parallel to Luna in the Virtuals ecosystem.

Some Thoughts

aixbt puts things in perspective:

It’s still early days for Moemate’s Web3 expansion, and its ultimate success—or failure—will hinge on the products it rolls out in the first half of this year.

If Moemate gets this right, they’re effectively building a Disneyland for AI companions.

They don’t just want to run a rollercoaster that goes in circles (like so many chat-only AI apps).

They aim to develop an entire “world” of experiences—multi-platform, multi-modal, fully integrated into Web3—where thousands or millions of AI “citizens” roam freely, each owned or co-owned by their creators, fans, or investors.

Moemate’s vertical integration—from a well-used web2 consumer app, no-code agent framework and an upcoming agent token marketplace—gives it a moat. Pro Tip: If you’re building in AI or Web3, consider how you might similarly capture more of the user journey.

Today’s AI agents may rely on text, but tomorrow’s users will expect far more: voice, vision, AR, VR, and beyond. To future-proof your offerings, you have to think multimodal. Solve real pain points. 

IMHO, contextual memory, cross-platform functionality, and user ownership will be the pillars of long-term success in the consumer AI agent space.

The Team Behind the Mate

I’ve had the chance to speak with Ahad, Moemate’s founder—an engineer-turned-product leader who’s been active in crypto since 2015. After a stint on Apple’s product team for wearables, he ventured into AI in 2018, contributing to open-source projects including what eventually became Stable Diffusion.

During the last crypto cycle, he founded Webaverse to create an open-source AI-driven metaverse. While they built a strong community and launched a successful NFT drop, they faced challenges: co-founder issues, losses from FTX, and a tough fundraising environment.

After reflection, he realized the metaverse was still a few years away, but AI agents and simulation engines were the keys to making it real.

This led to Moemate. Iterating through web and desktop apps, the web version finally took off. Moemate embodies his vision of AI agents as digital primitives—designed for ownership, trading, and interaction on decentralized rails.

Conclusion

Moemate is, at its core, a story about how AI companions might reshape our digital experience.

We’re witnessing the early days of the “AI as Celebrity” phenomenon. Nebula, with her MOE token, might be a novelty in 2024, but this year, we could see a legion of AI personalities hosting entire talk shows, releasing music, and starring in Netflix specials, all while fans co-own their IP.

It’s half sci-fi, half social revolution—and Moemate is forging the path in real-time.

Here’s to the messy, unpredictable, exhilarating future of AI companions. 🥂

Cheers,

Teng Yan

References & Links

• Moemate litepaper

• Other Moemate links

• Nebula’s website

The author holds positions in MOE and MATES at the time of writing.

This content is provided solely for educational purposes and does not constitute financial advice. It is not an endorsement to buy or sell assets or make financial decisions. Always conduct your own research and exercise caution when making investment choices.