{"id":1724,"date":"2025-07-23T05:17:44","date_gmt":"2025-07-22T21:17:44","guid":{"rendered":"https:\/\/www.yixiangtian.com\/?p=1724"},"modified":"2025-07-23T05:17:44","modified_gmt":"2025-07-22T21:17:44","slug":"%e6%a2%b3%e7%90%86%e4%ba%86300%e6%9d%a1%e5%8a%a0%e5%af%86%e9%a2%84%e6%b5%8b%e5%90%8e%ef%bc%8c%e6%88%91%e4%bb%ac%e5%8f%91%e7%8e%b0%e4%ba%862025%e5%b9%b4%e6%9c%80%e5%8f%97%e5%85%b3%e6%b3%a8%e7%9a%84","status":"publish","type":"post","link":"https:\/\/www.yunsiwang.com\/?p=1724","title":{"rendered":"\u68b3\u7406\u4e86300\u6761\u52a0\u5bc6\u9884\u6d4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4e862025\u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898"},"content":{"rendered":"<h1 class=\"art_tit\">\u68b3\u7406\u4e86300\u6761\u52a0\u5bc6\u9884\u6d4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4e862025\u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898<\/h1>\n<div class=\"content_text\">\n<p>\u539f\u6587\u4f5c\u8005\uff1ainsights\u00a04.vc<\/p>\n<p>\u539f\u6587\u7f16\u8bd1\uff1a\u6df1\u6f6e TechFlow<\/p>\n<p>\u4e3a\u4e86\u5e2e\u52a9\u60a8\u8282\u7701\u65f6\u95f4\u5e76\u805a\u7126\u5e02\u573a\u70ed\u70b9\uff0c\u6211\u4eec\u7cbe\u5fc3\u6574\u7406\u4e86 300 \u591a\u6761\u9488\u5bf9 2025 \u5e74\u7684\u524d\u77bb\u9884\u6d4b\u3002\u6bcf\u5e74\uff0c\u9876\u7ea7\u673a\u6784\u548c\u884c\u4e1a\u9886\u8896\u90fd\u4f1a\u5206\u4eab\u5bf9\u52a0\u5bc6\u8d27\u5e01\u672a\u6765\u53d1\u5c55\u5177\u6709\u6df1\u8fdc\u5f71\u54cd\u7684\u6d1e\u89c1\u3002\u672c\u62a5\u544a\u6c47\u96c6\u4e86 ETF \u53d1\u884c\u5546\u3001\u6295\u8d44\u57fa\u91d1\u3001\u7814\u7a76\u673a\u6784\u4ee5\u53ca\u5e02\u573a\u5148\u9a71\u7684\u89c2\u70b9\uff0c\u4e0d\u4ec5\u4e3a\u60a8\u63d0\u4f9b\u4e86\u5e02\u573a\u60c5\u7eea\u7684\u6574\u4f53\u6982\u89c8\uff0c\u8fd8\u5e26\u6765\u4e86\u5173\u4e8e\u65b0\u5174\u673a\u4f1a\u7684\u5b9e\u7528\u5efa\u8bae\u548c\u53ef\u64cd\u4f5c\u7684\u6d1e\u5bdf\u529b\u3002<\/p>\n<p>2025 \u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898\u5305\u62ec\uff1a<\/p>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u7a33\u5b9a\u5e01\u7684\u589e\u957f\u4e0e\u666e\u53ca<\/p>\n<\/li>\n<li>\n<p>\u5b9e\u4f53\u8d44\u4ea7\u7684\u4ee3\u5e01\u5316 (RWAs)<\/p>\n<\/li>\n<li>\n<p>\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u00a0ETF\u00a0\u7684\u6269\u5c55<\/p>\n<\/li>\n<li>\n<p>\u4eba\u5de5\u667a\u80fd\u4e0e\u533a\u5757\u94fe\u7684\u878d\u5408<\/p>\n<\/li>\n<li>\n<p>\u53bb\u4e2d\u5fc3\u5316\u7269\u7406\u57fa\u7840\u8bbe\u65bd\u7f51\u7edc (DePINs)<\/p>\n<\/li>\n<\/ul>\n<h2>1.\u7a33\u5b9a\u5e01\u7684\u589e\u957f\u4e0e\u666e\u53ca<\/h2>\n<h3>\u6765\u81ea Blockworks \u521b\u59cb\u4eba\u00a0Jason Yanowitz\u00a0\u548c Inversion Capital \u521b\u59cb\u4eba\u00a0Santiago R Santos\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u5230 2025 \u5e74\uff0c\u7a33\u5b9a\u5e01\u7684\u5e02\u503c\u9884\u8ba1\u5c06\u5360\u52a0\u5bc6\u8d27\u5e01\u603b\u5e02\u503c\u7684 10%\u00a0\u3002\u8fd9\u4e00\u589e\u957f\u53ef\u80fd\u5f97\u76ca\u4e8e\u81f3\u5c11\u4e00\u5bb6\u4e3b\u8981\u94f6\u884c\u3001\u79d1\u6280\u516c\u53f8\u6216\u91d1\u878d\u79d1\u6280\u4f01\u4e1a\u63a8\u51fa\u7a33\u5b9a\u5e01\u3002\u4f8b\u5982\uff0cBlackRock\u3001Robinhood \u548c Meta \u88ab\u8ba4\u4e3a\u6709\u53ef\u80fd\u53c2\u4e0e\u5176\u4e2d\u3002Tether \u9884\u8ba1\u5c06\u901a\u8fc7\u5176\u6218\u7565\u6027\u7684\u653f\u6cbb\u5173\u7cfb\u7ee7\u7eed\u4fdd\u6301\u5e02\u573a\u9886\u5148\u5730\u4f4d\uff0c\u800c USDC \u7684\u5e02\u573a\u4efd\u989d\u53ef\u80fd\u56e0 PayPal \u7b49\u65b0\u7ade\u4e89\u8005\u7684\u52a0\u5165\uff0c\u4ece\u5f53\u524d\u7684 20% \u964d\u81f3\u7ea6 15%\u00a0\u3002\u8fd9\u4e9b\u53d8\u5316\u53ef\u80fd\u63a8\u52a8\u7f8e\u56fd\u7684\u76d1\u7ba1\u8fdb\u7a0b\uff0c\u4f7f\u7a33\u5b9a\u5e01\u6210\u4e3a\u652f\u4ed8\u548c\u7535\u5b50\u5546\u52a1\u9886\u57df\u7684\u5173\u952e\u63a8\u52a8\u529b\u3002<\/p>\n<\/li>\n<\/ul>\n<h3>\u6765\u81ea\u00a021\u00a0shares\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u5f53\u524d\u7a33\u5b9a\u5e01\u7684\u5e02\u503c\u5df2\u8d85\u8fc7 1700 \u4ebf\u7f8e\u5143\uff0c\u5e76\u5728\u5168\u7403\u6c47\u6b3e\u5e02\u573a\u4e2d\u53d6\u5f97\u4e86\u663e\u8457\u8fdb\u5c55\uff0c\u5c24\u5176\u662f\u5728\u83f2\u5f8b\u5bbe\u548c\u571f\u8033\u5176\u7b49\u56fd\u5bb6\u3002\u968f\u7740\u79c1\u6709\u4fe1\u8d37\u4ee3\u5e01\u5316\u7684\u666e\u53ca\uff0c\u8fd9\u4e00\u8d8b\u52bf\u6709\u671b\u8fdb\u4e00\u6b65\u63d0\u5347\u8d44\u672c\u6d41\u52a8\u6027\u5e76\u589e\u5f3a\u91d1\u878d\u900f\u660e\u5ea6\u3002Maple Finance \u7b49\u5e73\u53f0\u5229\u7528\u667a\u80fd\u5408\u7ea6\u7b80\u5316\u64cd\u4f5c\u5e76\u964d\u4f4e\u6210\u672c\uff0c\u6210\u4e3a\u884c\u4e1a\u7684\u9886\u5bfc\u8005\u3002\u968f\u7740\u7a46\u8fea\uff08Moody\\&#8217;s\uff09\u7b49\u673a\u6784\u5f00\u59cb\u63d0\u4f9b\u4ee3\u5e01\u5316\u4fe1\u8d37\u7684\u8bc4\u7ea7\uff0c\u8be5\u9886\u57df\u6709\u671b\u5728 2025 \u5e74\u6210\u4e3a\u4e3b\u6d41\u8d44\u4ea7\u7c7b\u522b\u3002<\/p>\n<\/li>\n<\/ul>\n<h2>2.\u5b9e\u4f53\u8d44\u4ea7\u7684\u4ee3\u5e01\u5316 (RWAs)<\/h2>\n<h3>\u6765\u81ea\u00a0Coinbase\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u4ee3\u5e01\u5316\u73b0\u5b9e\u4e16\u754c\u8d44\u4ea7 (RWA) \u7684\u5e02\u573a\u6b63\u5728\u5feb\u901f\u589e\u957f\u3002\u9884\u8ba1\u5230 2024 \u5e74\uff0c\u5176\u603b\u503c\u5c06\u589e\u957f 60%\u00a0\uff0c\u8fbe\u5230 135 \u4ebf\u7f8e\u5143\uff1b\u5230 2030 \u5e74\uff0c\u8fd9\u4e00\u6570\u5b57\u53ef\u80fd\u8fdb\u4e00\u6b65\u98d9\u5347\u81f3 30 \u4e07\u4ebf\u7f8e\u5143\u3002\u76ee\u524d\uff0c\u8d1d\u83b1\u5fb7 (BlackRock) \u548c\u5bcc\u5170\u514b\u6797\u9093\u666e\u987f (Franklin Templeton) \u7b49\u5168\u7403\u9886\u5148\u7684\u91d1\u878d\u673a\u6784\u6b63\u5728\u79ef\u6781\u63a8\u52a8\u653f\u5e9c\u8bc1\u5238\u7684\u4ee3\u5e01\u5316\u8fdb\u7a0b\u3002\u4ee3\u5e01\u5316\u8d44\u4ea7\u6b63\u6210\u4e3a DeFi \u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u91cd\u8981\u62b5\u62bc\u54c1\u3002<\/p>\n<\/li>\n<\/ul>\n<h3>\u6765\u81ea\u00a0Pantera Capital\u00a0\u7ba1\u7406\u5408\u4f19\u4eba\u00a0Paul Veradittakit\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u4eca\u5e74\uff0cRWAs \u589e\u957f\u4e86 60%\u00a0\uff0c\u8fbe\u5230 137 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d 70% \u662f\u79c1\u6709\u4fe1\u8d37\uff0c\u5176\u4f59\u4e3a\u56fd\u5e93\u5238\u548c\u5546\u54c1\u3002\u8d44\u91d1\u7684\u6d41\u5165\u6b63\u5728\u52a0\u901f\uff0c\u9884\u8ba1 2025 \u5e74\u5c06\u51fa\u73b0\u66f4\u590d\u6742\u7684\u4ee3\u5e01\u5316\u8d44\u4ea7\u7c7b\u578b\u3002<\/p>\n<\/li>\n<li>\n<p>\u79c1\u6709\u4fe1\u8d37\uff1a\u968f\u7740\u57fa\u7840\u8bbe\u65bd\u7684\u6539\u8fdb\uff0cFigure \u5728 2024 \u5e74\u65b0\u589e\u4e86 40 \u4ebf\u7f8e\u5143\u7684\u4ee3\u5e01\u5316\u4fe1\u8d37\u3002\u8d8a\u6765\u8d8a\u591a\u7684\u516c\u53f8\u6b63\u5728\u901a\u8fc7\u79c1\u6709\u4fe1\u8d37\u5c06\u8d44\u91d1\u5f15\u5165\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u3002<\/p>\n<\/li>\n<li>\n<p>\u56fd\u5e93\u5238\u4e0e\u5546\u54c1\uff1a\u5f53\u524d\u94fe\u4e0a\u56fd\u5e93\u5238\u7684\u89c4\u6a21\u4e3a 26.7 \u4ebf\u7f8e\u5143\uff0c\u800c\u94fe\u4e0b\u4ecd\u6709\u6570\u4e07\u4ebf\u7f8e\u5143\u672a\u88ab\u4ee3\u5e01\u5316\u3002\u56fd\u5e93\u5238\u63d0\u4f9b\u7684\u6536\u76ca\u7387\u4f18\u4e8e\u7a33\u5b9a\u5e01\u3002BlackRock \u7684 BUIDL \u57fa\u91d1\u5728\u94fe\u4e0a\u7684\u89c4\u6a21\u4e3a 5 \u4ebf\u7f8e\u5143\uff0c\u800c\u94fe\u4e0b\u7684\u89c4\u6a21\u5219\u8fbe\u5230\u6570\u767e\u4ebf\u7f8e\u5143\u3002DeFi \u6c60\u73b0\u5df2\u5f00\u59cb\u6574\u5408\u56fd\u5e93\u5238\uff0c\u4ece\u800c\u964d\u4f4e\u4e86\u7528\u6237\u91c7\u7528\u7684\u963b\u529b\u3002<\/p>\n<\/li>\n<\/ul>\n<h2>3.\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a ETF \u7684\u6269\u5c55<\/h2>\n<h3>\u6765\u81ea Bloomberg ETF \u4e13\u5bb6 Eric Balchunas \u548c James Seyffart \u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\u5728 2024 \u5e74 1 \u6708 10 \u65e5\u6279\u51c6\u4e86\u9996\u6279 11 \u4e2a\u6bd4\u7279\u5e01\u73b0\u8d27 ETF\uff0c\u968f\u540e\u53c8\u5728 2024 \u5e74 7 \u6708 23 \u65e5\u6279\u51c6\u4e86\u4ee5\u592a\u574a\u73b0\u8d27 ETF\u3002\u8fd9\u4e00\u6279\u51c6\u6807\u5fd7\u7740\u76d1\u7ba1\u73af\u5883\u7684\u9010\u6b65\u653e\u5bbd\uff0c\u4e5f\u4e3a\u5c71\u5be8\u5e01 ETF \u7684\u63a8\u51fa\u5960\u5b9a\u4e86\u57fa\u7840\u3002\u5c71\u5be8\u5e01 ETF \u7684\u51fa\u73b0\u53ef\u80fd\u8fdb\u4e00\u6b65\u63d0\u5347\u5e02\u573a\u6d41\u52a8\u6027\uff0c\u5e76\u964d\u4f4e\u52a0\u5bc6\u6295\u8d44\u7684\u8fdb\u5165\u95e8\u69db\u3002<\/p>\n<\/li>\n<li>\n<p>\u6bd4\u7279\u5e01 ETF \u7684\u8d44\u4ea7\u89c4\u6a21\u9884\u8ba1\u5c06\u5728 2025 \u5e74\u8d85\u8d8a\u9ec4\u91d1 ETF\u3002\u76ee\u524d\uff0c\u6bd4\u7279\u5e01 ETF \u7684\u8d44\u4ea7\u89c4\u6a21\u4e3a 1100 \u4ebf\u7f8e\u5143\uff0c\u800c\u9ec4\u91d1 ETF \u4e3a 1280 \u4ebf\u7f8e\u5143\u3002\u6bd4\u7279\u5e01 ETF \u7684\u5feb\u901f\u589e\u957f\u8868\u660e\uff0c\u8fd9\u4e00\u8d8b\u52bf\u53ef\u80fd\u6bd4\u9884\u671f\u66f4\u65e9\u5b9e\u73b0\u3002<\/p>\n<\/li>\n<li>\n<p>\u5982\u679c SEC \u7684\u9886\u5bfc\u5c42\u66f4\u52a0\u503e\u5411\u81ea\u7531\u4e3b\u4e49\uff0c\u672a\u6765\u53ef\u80fd\u4f1a\u6279\u51c6\u5305\u62ec XRP\u3001Solana\uff08SOL\uff09\u548c Hedera\uff08HBAR\uff09\u5728\u5185\u7684\u5c71\u5be8\u5e01 ETF\uff0c\u4ece\u800c\u8fdb\u4e00\u6b65\u4e30\u5bcc\u52a0\u5bc6\u8d27\u5e01\u6295\u8d44\u4ea7\u54c1\u7684\u79cd\u7c7b\u3002<\/p>\n<\/li>\n<\/ul>\n<p>\u5982\u679c\u60a8\u5e0c\u671b\u66f4\u8be6\u7ec6\u5730\u4e86\u89e3\u6bd4\u7279\u5e01\u73b0\u8d27 ETF\uff0c\u6211\u4eec\u5efa\u8bae\u53c2\u8003\u6211\u4eec\u4e0a\u4e2a\u6708\u53d1\u5e03\u7684\u6587\u7ae0\u3002\u4ee5\u4e0b\u662f\u622a\u81f3 2025 \u5e74 1 \u6708 8 \u65e5\u7684 ETF \u6570\u636e\uff1a<\/p>\n<p><img alt=\"\u68b3\u7406\u4e86300\u6761\u52a0\u5bc6\u9884\u6d4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4e862025\u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898\"><\/p>\n<p class=\"img-desc customstyle_text\">The Block\uff09<\/p>\n<p><img alt=\"\u68b3\u7406\u4e86300\u6761\u52a0\u5bc6\u9884\u6d4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4e862025\u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898\"><\/p>\n<p class=\"img-desc customstyle_text\">\n<p class=\"img-desc customstyle_text\">\n<p class=\"img-desc customstyle_text\">Bitwise\u00a0\u7684\u9884\u6d4b<\/h3>\n<p>\u00a0\u00a0\u9884\u8ba1 2025 \u5e74\u6bd4\u7279\u5e01 ETF \u7684\u8d44\u91d1\u6d41\u5165\u5c06\u8d85\u8fc7 2024 \u5e74\u521b\u4e0b\u7684 336 \u4ebf\u7f8e\u5143\u7eaa\u5f55\u3002\u8fd9\u4e00\u589e\u957f\u4e3b\u8981\u5f97\u76ca\u4e8e Morgan Stanley \u548c Bank of America \u7b49\u5927\u578b\u5238\u5546\u7684\u63a8\u52a8\uff0c\u5b83\u4eec\u5c06\u4e3a\u66f4\u591a\u5ba2\u6237\u63d0\u4f9b\u52a0\u5bc6\u4ea7\u54c1\u7684\u6295\u8d44\u6e20\u9053\u3002\u968f\u7740\u6295\u8d44\u8005\u4fe1\u5fc3\u7684\u589e\u5f3a\uff0c\u4ee5\u53ca\u6bd4\u7279\u5e01\u5728\u6295\u8d44\u7ec4\u5408\u4e2d\u7684\u914d\u7f6e\u9010\u6e10\u6210\u4e3a\u4e3b\u6d41\uff0cETF \u7684\u8d44\u91d1\u6d41\u5165\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u52a0\u901f\uff0c\u8fd9\u4e00\u8d8b\u52bf\u4e0e\u9ec4\u91d1 ETF \u5728\u8fc7\u53bb\u51e0\u5341\u5e74\u7684\u53d1\u5c55\u8def\u5f84\u7c7b\u4f3c\u3002<\/p>\n<h2>4.\u4eba\u5de5\u667a\u80fd\u4e0e\u533a\u5757\u94fe\u7684\u878d\u5408<\/h2>\n<h3>\u6765\u81ea\u00a0Vaneck\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u5230 2025 \u5e74\uff0cAI \u667a\u80fd\u4f53\uff08AI Agents\uff09\u7684\u6570\u91cf\u9884\u8ba1\u5c06\u8d85\u8fc7 100 \u4e07\u3002\u8fd9\u4e9b\u667a\u80fd\u4f53\u5c06\u663e\u8457\u63a8\u52a8\u94fe\u4e0a\u6d3b\u52a8\u7684\u589e\u957f\uff0c\u5b83\u4eec\u4e0d\u4ec5\u80fd\u591f\u4f18\u5316 DeFi \u6536\u76ca\uff0c\u8fd8\u53ef\u4ee5\u81ea\u52a8\u5316\u5904\u7406\u5404\u79cd\u4efb\u52a1\uff0c\u5e76\u5728\u6e38\u620f\u548c\u793e\u4ea4\u5a92\u4f53\u4e2d\u5b9e\u73b0\u4ea4\u4e92\u3002Virtuals Protocol \u7b49\u5e73\u53f0\u6b63\u5728\u79ef\u6781\u63a8\u52a8 AI \u6280\u672f\u7684\u53d1\u5c55\uff0c\u4f7f\u667a\u80fd\u4f53\u7684\u5e94\u7528\u8303\u56f4\u4ece\u91d1\u878d\u6269\u5c55\u5230\u6e38\u620f\u548c\u8425\u9500\u9886\u57df\uff0c\u4ece\u800c\u521b\u9020\u5927\u91cf\u6536\u5165\u5e76\u63d0\u5347\u7528\u6237\u53c2\u4e0e\u5ea6\u3002<\/p>\n<\/li>\n<\/ul>\n<h3>\u6765\u81ea Dragonfly Capital \u7ba1\u7406\u5408\u4f19\u4eba\u00a0Haseeb Qureshi\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>AI \u667a\u80fd\u4f53\u5c06\u5e7f\u6cdb\u91c7\u7528\u7a33\u5b9a\u5e01\u8fdb\u884c\u70b9\u5bf9\u70b9\u4ea4\u6613\uff0c\u5c24\u5176\u662f\u5728\u7a33\u5b9a\u5e01\u76d1\u7ba1\u8fdb\u4e00\u6b65\u653e\u5bbd\u7684\u60c5\u51b5\u4e0b\u3002\u8fd9\u79cd\u8d8b\u52bf\u4e5f\u5c06\u5ef6\u4f38\u81f3\u5927\u578b\u4f01\u4e1a\uff0c\u5b83\u4eec\u5c06\u901a\u8fc7\u7a33\u5b9a\u5e01\u66ff\u4ee3\u4f20\u7edf\u94f6\u884c\u7cfb\u7edf\uff0c\u4ee5\u5b9e\u73b0\u66f4\u9ad8\u7684\u7075\u6d3b\u6027\u548c\u6548\u7387\u3002<\/p>\n<\/li>\n<li>\n<p>\u53bb\u4e2d\u5fc3\u5316 AI \u7684\u8bad\u7ec3\u548c\u63a8\u7406\u5c06\u8fce\u6765\u5feb\u901f\u53d1\u5c55\uff0c\u7531 ExoLabs\u3001NousResearch \u548c PrimeIntellect \u7b49\u9879\u76ee\u63a8\u52a8\uff0c\u4e3a\u5f53\u524d\u7684\u96c6\u4e2d\u5f0f AI \u6a21\u578b\u63d0\u4f9b\u65b0\u7684\u9009\u62e9\u3002NEAR Protocol \u6b63\u5728\u52aa\u529b\u6784\u5efa\u4e00\u4e2a\u5b8c\u5168\u65e0\u9700\u8bb8\u53ef\u7684 AI \u6280\u672f\u6808\uff0c\u4f7f\u5f00\u53d1\u548c\u90e8\u7f72\u66f4\u52a0\u5f00\u653e\u3002<\/p>\n<\/li>\n<li>\n<p>AI \u9a71\u52a8\u7684\u94b1\u5305\u5c06\u901a\u8fc7\u81ea\u52a8\u5316\u590d\u6742\u64cd\u4f5c\uff08\u5982\u8de8\u94fe\u6865\u63a5\u3001\u4ea4\u6613\u4f18\u5316\u3001\u964d\u4f4e\u8d39\u7528\u548c\u9632\u8303\u8bc8\u9a97\uff09\u5f7b\u5e95\u6539\u53d8\u7528\u6237\u4f53\u9a8c\u3002\u8fd9\u5c06\u4e3a\u7528\u6237\u63d0\u4f9b\u65e0\u7f1d\u7684\u8de8\u94fe\u64cd\u4f5c\u4f53\u9a8c\u3002\u5230 2026 \u5e74\uff0c\u8fd9\u79cd\u81ea\u52a8\u5316\u8d8b\u52bf\u53ef\u80fd\u4f1a\u524a\u5f31\u533a\u5757\u94fe\u7f51\u7edc\u6548\u5e94\u7684\u91cd\u8981\u6027\uff0c\u56e0\u4e3a\u7528\u6237\u5c06\u4e0d\u518d\u9700\u8981\u76f4\u63a5\u4e0e\u533a\u5757\u94fe\u4ea4\u4e92\u3002<\/p>\n<\/li>\n<\/ul>\n<h2>5. \u53bb\u4e2d\u5fc3\u5316\u7269\u7406\u57fa\u7840\u8bbe\u65bd\u7f51\u7edc (DePINs)<\/h2>\n<h3>\u6765\u81ea\u00a0Multicoin Capital\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u7279\u6717\u666e\u653f\u5e9c\u9884\u8ba1\u5c06\u63a8\u51fa\u4e00\u9879\u81ea\u52a8\u9a7e\u9a76 (AD) \u7684\u56fd\u5bb6\u6807\u51c6\uff0c\u8fd9\u5c06\u4e3a\u57fa\u4e8e\u81ea\u52a8\u9a7e\u9a76\u548c\u673a\u5668\u4eba\u6280\u672f\u7684\u53bb\u4e2d\u5fc3\u5316\u7269\u7406\u57fa\u7840\u8bbe\u65bd\u7f51\u7edc (DePINs) \u63d0\u4f9b\u65b0\u7684\u53d1\u5c55\u673a\u9047\u3002\u968f\u7740 GPU \u96c6\u7fa4\u7684\u89c4\u6a21\u7a81\u7834 100,\u00a0000 \u53f0 H100\uff0c\u81ea\u52a8\u9a7e\u9a76\u6280\u672f\u5c06\u5177\u5907\u5b9e\u9645\u5e94\u7528\u7684\u80fd\u529b\u3002\u4e00\u4e9b\u7531\u4f20\u7edf\u98ce\u9669\u6295\u8d44\u516c\u53f8\u8d44\u52a9\u7684\u521d\u521b\u4f01\u4e1a\u53ef\u80fd\u4f1a\u91c7\u7528 DePIN \u6a21\u5f0f\uff0c\u4ee5\u5206\u6563\u8fd0\u8425\u98ce\u9669\u5e76\u964d\u4f4e\u6210\u672c\u3002\u65e9\u671f\u91c7\u7528\u8fd9\u79cd\u6a21\u5f0f\u7684\u4f01\u4e1a\u5c06\u80fd\u591f\u6536\u96c6\u5230\u5173\u952e\u7684\u673a\u5668\u4eba\u8fd0\u884c\u6570\u636e\u3002\u6bd4\u5982\uff0c\u521d\u521b\u516c\u53f8 Frodobots \u5df2\u7ecf\u5f00\u59cb\u63a2\u7d22\u8fd9\u4e00\u65b9\u5411\uff0c\u9884\u8ba1\u672a\u6765\u4f1a\u6709\u66f4\u591a\u7c7b\u4f3c\u7684\u516c\u53f8\u52a0\u5165\u3002\u6b64\u5916\uff0cHivemapper \u4e5f\u5728\u5c1d\u8bd5\u7c7b\u4f3c\u7684\u521b\u65b0\u6982\u5ff5\u3002<\/p>\n<\/li>\n<\/ul>\n<h3>\u6765\u81ea Framework Ventures \u8054\u5408\u521b\u59cb\u4eba\u00a0Vence Spencer\u00a0\u7684\u9884\u6d4b<\/h3>\n<ul class=\" list-paddingleft-2\">\n<li>\n<p>\u4e13\u6ce8\u4e8e\u80fd\u6e90\u9886\u57df\u7684 DePIN \u9879\u76ee\uff08\u5982 Glow \u548c Daylight\uff09\u9884\u8ba1\u5c06\u5728\u4ea4\u6613\u8d39\u7528\u65b9\u9762\u8fbe\u5230\u4e0e\u9876\u7ea7 DeFi \u5e73\u53f0\u76f8\u5f53\u7684\u6c34\u5e73\u3002\u8fd9\u8868\u660e\uff0c\u533a\u5757\u94fe\u6280\u672f\u5728\u80fd\u6e90\u5206\u914d\u7684\u7ba1\u7406\u548c\u8d27\u5e01\u5316\u65b9\u9762\u7684\u5e94\u7528\u6b63\u53d8\u5f97\u8d8a\u6765\u8d8a\u5e7f\u6cdb\u3002\u4f8b\u5982\uff0c\u8fd9\u4e9b\u9879\u76ee\u901a\u8fc7\u667a\u80fd\u5408\u7ea6\u4f18\u5316\u80fd\u6e90\u5206\u914d\u6548\u7387\uff0c\u540c\u65f6\u4e3a\u7528\u6237\u63d0\u4f9b\u900f\u660e\u7684\u4ea4\u6613\u8bb0\u5f55\u548c\u6536\u76ca\u5206\u914d\u65b9\u5f0f\u3002<\/p>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u68b3\u7406\u4e86300\u6761\u52a0\u5bc6\u9884\u6d4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4e862025\u5e74\u6700\u53d7\u5173\u6ce8\u7684\u4e94\u5927\u4e3b\u9898 \u539f\u6587\u4f5c\u8005\uff1ainsights\u00a04.vc \u539f\u6587\u7f16 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1724","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/posts\/1724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1724"}],"version-history":[{"count":1,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/posts\/1724\/revisions"}],"predecessor-version":[{"id":3448,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=\/wp\/v2\/posts\/1724\/revisions\/3448"}],"wp:attachment":[{"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yunsiwang.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}