Is Solana The Home of AI Agents? Franklin Templeton Seems to Think So

Despite fierce competition from Base, Solana leads all chains in AI Agent market cap and mindshare.

Published: Jan 15, 2025 at 12:08

AI Agents have undeniably been the crypto space’s hottest narrative in recent months, with viral tokens like $FARTCOIN, $ai16z, and $AIXBT dominating markets.

The agentic economy has become a media sensation, escaping the crypto echo chamber and capturing the attention of Wall Street, with TradFi giants like Franklin Templeton conducting focused research into the field.

In a recent report, Franklin Templeton Digital Assets analyzed the growth of crypto’s AI sector, highlighting the meta’s best-performing tokens. Solana-based tokens featured heavily in the firm’s research, suggesting that the Layer-1 could be the home of onchain AI Agent activity.

70% of Franklin Templeton’s AI Highlights Live on Solana

On January 15, Franklin Templeton Digital Assets published a research report on crypto’s emerging AI agent economy. After briefly recapping emergence and origins of the sector, Franklin Templeton highlighted the 10 biggest AI Agent projects across the crypto market.

Of Franklin Templeton’s 10 listed projects, seven are based on the Solana blockchain, including heavyweights like $FARTCOIN and $ai16z. Beyond carefully curated selections listed by institutional players, onchain data reinforces the belief that Solana is the chain of choice for AI agents.

According to cookie.fun, a leading index of AI Agent data, Solana boasts a commanding lead over rival chains in terms of AI Agent market capitalization and mindshare.

AIdominance

While Base, a popular Ethereum Layer-2, enjoys an expansive AI Agent ecosystem due to the Virtuals Launchpad, Solana currently commands 56.48% of market dominance and 64.34% of mindshare on social media.

Solana’s AI Agents Are Evolving

What started as simple AI chatbots with their own wallet addresses has proliferated into an expansive and diverse ecosystem. With its Eliza framework, $ai16z has evolved from an AI-powered hedge fund into crypto’s largest decentralized AI development organization.

ai16z github star history

According to Franklin Templeton, ai16z’s GitHub Star History, a metric tracking the number of times a repository is bookmarked, has flipped older Web2 AI projects like Phidata and Langraph.

Additionally, Solana’s AI Agents are consistently developing more complex utilities and capabilities. Protocols like Griffain are simplifying dozens of complicated onchain behaviors.

Through its latest partnership with Metaplex, Griffain enables users to create and mint NFTs simply by conversing with the Agent.

AI Agents Show Strength as Market Rebounds

Despite volatile market conditions, Solana’s AI agents are showing plenty of resilience. With Solana bouncing 6% off its weekly lows, many of Solana’s leading AI projects are posting double-digit gains.

AI agent market

Despite fearful public sentiment and volatile market conditions, Solana’s AI agents consistently witness a powerful resurgence every time large-cap assets show strength. This suggests strong demand from traders and investors looking to cash in on AI hype.

While the success of Solana’s Agentic economy is largely driven by hype and speculation, the sector has dominated mindshare and attention since exploding onchain in October. Arguably, AI Agents have survived their initial hype cycle and established themselves as an enduring sector of Solana’s onchain markets.