Winter Flames in Web3

Prices of many Web3 companies' native coins have been sluggish since peaking between late 2024 and early 2025. Because the value of native coins is linked to the business models of Web3 companies, we are entering a so-called "winter period" in which it is difficult to invest in technological development and market expansion. The problem is that no matter how excellent a business model, it cannot resist the major trends facing crypto assets, such as market volatility and a cooling of investor sentiment. However, even in such times, there are still some Web3 companies that are thriving. For example, rather than simply using Web3-native AI agents, they are targeting the DeFi field with business models that allow multi-agents to naturally multiply, and decentralized AI networks composed of diverse subnets. It is precisely in this winter period that the flames that continue to burn stand out.