peaq Collaborates with Olas and Nevermined

peaq has announced a strategic collaboration with Olas and Nevermined to unlock AI agents’ potential. This partnership promises to usher in a new era of connected devices operating on Web3, leveraging the unique capabilities of each platform to revolutionize AI-commerce and machine autonomy.

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peaq, a layer-1 blockchain specializing in DePIN and Machine RWAs (real-world assets), is expanding its ecosystem with the introduction of AI agents by Nevermined and Olas. Nevermined is developing a decentralized payments protocol tailored for AI agents, facilitating AI-Commerce, such as booking airline tickets through AI-powered personal assistants.

Meanwhile, Olas provides a framework for launching and co-owning AI agents within entire AI-powered economies. Together with peaq’s layer-1 infrastructure for DePIN, which enables ownership of devices via blockchain and facilitates peer-to-peer value exchange, the collaboration aims to establish an economy where machines running AI agents can autonomously transact to maximize value for their owners.

With peaq’s blockchain technology enabling decentralized ownership and value exchange among devices, this trio aims to establish a foundation for an economy where AI agents manage transactions autonomously, maximizing value for their owners. This synergy is set to drive unprecedented advancements in how devices interact and transact, pushing the boundaries of AI’s role in the real world.

The Potential of AI Agents

AI agents represent a significant leap forward in the AI industry, poised to elevate current models like ChatGPT to new heights of functionality and usefulness. These agents can autonomously perform complex tasks, interact with the world, and deliver real-world outcomes.

From booking travel arrangements to optimizing energy usage, AI agents have the potential to transform industries and economies. When combined with value-creating devices—such as solar panels selling energy to the grid or vehicles reporting road conditions—AI agents can enhance the efficiency and effectiveness of smart cities and other applications.
“AI agents have transformative potential beyond our wildest dreams, but a payments system tailored to their unique needs is essential for that potential to be realized. 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 & CEO at Nevermined
The collaboration between Nevermined, Valory (on behalf of Olas), and peaq is set to bring this vision to life through intensive research and development and mutual integrations. peaq will serve as the backbone, enabling decentralized ownership and management of connected devices within DePINs. Nevermined will function as a decentralized PayPal for AI agents, facilitating transactions without human intervention. Olas will offer the framework for launching and co-owning AI agent economies via Web3.

This integration will result in fully functional Web3 AI agents equipped with a payment system and launch framework for DePINs building on peaq. Devices within these networks will become more autonomous and efficient, scaling DePIN business models significantly. For example, imagine a refrigerator autonomously paying a neighbor’s solar panel for excess energy—such scenarios become feasible at the intersection of AI, Web3, and IoT.

Pilot Projects and Future Use Cases

The three collaborators are already working on a pilot project in the energy sector, involving a DePIN currently in stealth mode, to showcase the potential of AI agents within DePINs. Additional hypothetical use cases that this collaboration might enable include:

Smart Power DePINs: AI agents on devices adjust consumption based on grid workload and user preferences, selling excess energy back to the grid.
Smart Farming DePINs: AI agents and sensors optimize payments for irrigation and nutrient delivery, maximizing harvest yields.
Smart Parking DePINs: AI predicts demand, optimizes parking infrastructure usage, and auctions parking spaces based on autonomous vehicle demand.
Drone Delivery DePINs: AI optimizes delivery routes and times, utilizing data from devices for predictive maintenance.

“AI is one of the most powerful technologies of recent memory, especially in the form of autonomous agents,” adds Ralph Pahlmeyer, Head of Business Development at Valory. “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.”
“AI-imbued machines are already accounting for more and more value creation in real-world economies.”

Till Wendler, Co-founder of peaq
“With Nevermined and Olas, we are creating the framework for moving this process onto 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%,” added Till Wendler.