Trying to add some value while learning out loud. I like Utility. Building @WeAreSubConnect
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If you're thinking about building a subnet on Bittensor, feel free to reach out.
Always happy to chat.
$TAO
It's been almost a month since we launched our first subnet incubation: Endure, $TAO subnet 30.
The response has been great and it confirmed something we've believed for a while:
There are a lot of talented builders looking at Bittensor.
Incubation is something we definitely want to do more of.
We've already had several promising conversations for the next subnet, but we're always interested in meeting exceptional teams.
That said, we're focused on quality over quantity.
We're not looking for teams that simply want to launch a subnet.
We're looking for teams with:
🔸 a clear incentive mechanism design
🔸 a clear path to revenue
🔸 a product that genuinely benefits from being built on Bittensor
🔸 a subnet design that strengthens the broader Bittensor ecosystem
We'd rather help build a handful of great subnets than dozens of average ones.
If that sounds like you, our DMs are always open.
We will be live in 15 minutes with @almnc_ai
This is one of those $TAO subnets that has been doing extremely well so looking forward to chatting.
Tune in 🤝
Today at 3PM UK time, we're going live with Almanac for another SubConnect $TAO X Space!
Almanac recently crossed $20M in trading volume through its terminal, with nearly half of that coming in the last 30 days.
We'll discuss their progress and what's next before opening up the floor for our usual discussion about everything happening across the Bittensor ecosystem.
See you at 3PM UK time!
RVCrypto retweeted
Today at 3PM UK time, we're going live with Almanac for another SubConnect $TAO X Space!
Almanac recently crossed $20M in trading volume through its terminal, with nearly half of that coming in the last 30 days.
We'll discuss their progress and what's next before opening up the floor for our usual discussion about everything happening across the Bittensor ecosystem.
See you at 3PM UK time!
RVCrypto retweeted
We just killed cold outreach.
Introducing Leadpoet: the AI sales agent that finds buyers who need you now, writes personalized outreach, and follows up on LinkedIn and email.
Used by Dropbox, OnePatch (YC26), Muttdata.
Comment “Poet” for 100 free lead credits to find qualified buyers.
Negativity gets a lot of attention, often more attention than positivity.
Negativity about another project or even a project someone is invested in.
That doesn't mean all the negativity is justified. Sometimes people are simply incentivized to be negative for the views in an attention driven world.
I spent most of my day yesterday with @MaxSebti in Paris.
It was a great meeting, but also very inspiring.
My conclusion: I have never been more bullish on a company like Score. And yes, a company, because they are not building a crypto project. They are building a company, utilizing the $TAO subnet as their product department.
I've been saying for over a year now that Score is going to be a breakout subnet. I'm not sure if it's going to be the first one, but I'm even more convinced now that it's happening.
They recently started buybacks, but I firmly believe these will continue to grow. At some point in 2027, I expect buybacks to reach seven figures per month.
Again, and I want to double-click on this, I've never been more bullish on something I've invested in.
Do with this information what you want.
I still expect the $TAO ecosystem to reach $100M in annualized revenue by the end of this year.
Not just because the subnets already generating revenue will continue to grow, but also because I expect many more subnets to start generating revenue of their own.
Growth will come from both directions.
If you focus on short term PA, you miss the bigger picture.
$TAO
Engy numbers going up and to the right.
$TAO
ATH after ATH after ATH (after ATH?).
@algodtrading recently shared that Engy, $TAO SN53, is growing at roughly 100% month over month.
Looking at the latest numbers, that growth doesn't seem to be slowing down.
Engy is now processing around 32 BILLION tokens per day. To put that into perspective, at the current pace, Engy would process in just 14
days what it processed over the previous 30.
And if this trajectory continues, October's growth could end up well above 100%.
What's exciting is that Engy is still a relatively young subnet thats only been live for a couple of months, with more infrastructure coming online and growing demand for low-cost AI inference.
The numbers are starting to speak for themselves.
Many crypto investors still see bittensor:native as a one-use-case AI play, it's not. I think this is one of the biggest misunderstandings about Bittensor.
When people think about decentralized AI in crypto, they usually think about compute or inference. Projects like $RENDER, Akash ($AKT) and Venice ($VVV) are good examples of this. They focus on providing Compute or Inference.
These are all markets that Bittensor subnets can compete in, and in some cases already do.
But that's just a small part of what Bittensor is building.
What makes Bittensor so interesting to me is that it's creating an ecosystem where independent businesses compete to build products and services across an enormous range of industries, all connected through the same underlying incentive system.
At some point you realize just how broad this ecosystem has become.
Take vision AI, for example. Score (SN44) is building technology that can turn ordinary camera footage into useful intelligence. Think about sports analytics, security, retail, industrial monitoring and eventually any industry where cameras generate enormous amounts of data that currently goes largely unused.
Then there's Leadpoet (SN71), which is focussed on the lead generation market. With their Agent businesses can use a competitive network to identify and soon reach out to leads. Another business problem with an enormous existing market.
Bitcast (SN93) is another interesting example, focusing on creator marketing. Connecting brands with creators and using incentives to generate measurable engagement. Again, a completely different industry with its own customers, competitors and revenue opportunities.
And we haven't even touched on decentralized storage, weather forecasting, risk intelligence, coding agents, autonomous AI agents, data collection, financial infrastructure and many other markets that subnets are entering.
Look at Zeus (SN18), which is building decentralized weather forecasting that could be valuable for energy trading and other industries where accurate forecasts have direct financial consequences.
Or Endure (SN30), which is building risk intelligence infrastructure for markets where understanding and pricing risk is fundamental to making financial decisions.
Or the growing number of agent-focused subnets, which are developing the infrastructure and capabilities needed for an economy where AI agents increasingly perform work on behalf of businesses and individuals.
These are all addressing completely different markets, with different customers, different revenue models and different opportunities to create value.
In traditional crypto, each of these projects would likely launch its own token, build its own community, attract its own liquidity and compete for attention independently. Within Bittensor, they become part of the same economic ecosystem.
They share the underlying TAO economy, compete for emissions and can increasingly use each other's services as inputs for their own products. A vision AI subnet might need inference and storage. An autonomous agent might need data and compute. A risk intelligence subnet might need forecasting models and historical market data.
The more useful commodities the ecosystem produces, the more opportunities emerge for other subnets to build on top of them.
And as these businesses start generating meaningful revenue from outside the ecosystem, part of that revenue can flow back into Alpha buybacks and burns, creating economic demand that flows through TAO.
This is why I believe looking at Bittensor as just another decentralized compute or AI inference project misses the bigger picture.
You're not looking at one product competing in one market, you're looking at an ecosystem of businesses competing across many different markets, while simultaneously strengthening the infrastructure and economy they all share.
Of course, not every subnet will succeed. Many will fail, and competition will only become more intense as the quality of new entrants continues to improve.
But that's exactly how I believe it should work.
We don't need 128 successful subnets. We need a growing number of businesses that create real value, attract paying customers and become competitive in their respective industries.
Enjoy your monday
Another weekly $TAO update.
At this point, I'm pretty convinced that more happens across the Bittensor ecosystem in a single week than in an entire year for your average crypto project.
And it will only accelerate from here.
RVCrypto retweeted
Jeff Bezos in the early 2000's seeing Amazon's lagging stock price -- and seeing all the internal metrics of Amazon going up and to the right.
He knew that disconnect would right itself violently at some point.
Having been in Bittensor bittensor:native for a little over a year, I've seen how the subnets and ecosystem have evolved.
Subnets are generating real revenue. Real partnerships. Real clients.
Subnets are using other subnets to propel their own product/data. Think Reeds Law (look it up).
Subnets are buying and burning their own alpha token.
I did not see anything near this amount of evolvement a year ago. The speed and progress from the subnets seem to be compounding over time. What once took 6 months from a subnet is now weeks.
From my POV, if I was to chart subnet shipping speed and progress, the chart would be up and to the right.
We literally just had one subnet (Lium SN51) buy $1,500,000 worth of their alpha token and burn it.
Month over month growth and not slowing down. Just incredible progress.
I say all this to point out that the bittensor:native token price will eventually follow. It has to. Subnet revenue in August was roughly $30 million while Sept was roughly $50 million. Again, substantial month over month % growth.
I think those of us who pay attention to the Bittensor eco can ultimately see where this is going, but those outside of Bittensor may have no idea. They probably view bittensor:native as just a 21m hard cap token. Do these people even know Bittensor has subnets. Do they know the subnets have their own token which also has 21m hard caps? Do they know the subnets are generating month over month increases in revenue?
I could keep going - you get the picture. This has got to be the most bullish asymmetric bets out there.
Bags are packed. Waiting.
$TAO is still very much correlated with the rest of crypto, not AI.
And I think that is going to change in 2027.
Right now, the price of TAO is still largely driven by the same forces that move the rest of the crypto market. Bitcoin goes up, TAO follows. Bitcoin goes down, TAO follows. Meanwhile, the actual Bittensor ecosystem is developing at a pace that is increasingly disconnected from its market valuation.
But something important is happening underneath the surface, and I believe it will fundamentally change how TAO is valued.
The ecosystem is starting to generate meaningful revenue from outside of crypto, and more importantly, an increasing number of subnets are using that revenue to buy back and burn their Alpha tokens.
This is where Bittensor is different compared to the rest of crypto.
Because Alpha tokens are connected to TAO through their liquidity pools, demand for Alpha also creates demand for TAO. Every subnet that builds a successful business and uses (part of) its revenue for buybacks contributes to this mechanism.
And the beauty of it is that this doesn't depend on attracting new crypto investors or convincing people to buy TAO because of hype and narrative like 99% of crypto.
It depends on businesses and consumers paying for products they need in the real world.
This is what I mean when I say Bittensor will start growing from the inside out.
The ecosystem increasingly develops its own internal source of demand, funded by real economic activity.
And we don't need all subnets to succeed for this to become significant. A handful of breakout subnets generating tens or even hundreds of millions in annual revenue could already make create significant demand.
Now imagine what happens when that number keeps growing.
That's why I expect 2027 to be the year we see a meaningful repricing of $TAO.
Enough thoughts for this morning, enjoy your saturday.
Oh and let me know what you think.
RVCrypto retweeted
seems every token is dependent on 1 team hitting a grand slam.
except $tao.
phase 1, right now, has:
- over $50m ARR
- growing 40% MoM
- from a dozen different teams
- all routing into $TAO
conceptual phase 2 will soon be:
- over $100m ARR
- growing at increasing velocity
- from, eventually, dozens of teams
- all accruing to $TAO
and phase 3+:
- more subnet slots
- eventually infinite subnet slots
- dTao designed to kill scams
- infinite teams buying back $TAO
more teams buying back means:
- more revenue
- faster revenue
- risk-mitigated revenue
- both a) safer and b) higher upside
this is exactly the Intelligence Flywheel people are looking for.
$TAO is sitting on a functioning and accelerating revenue machine.
boundless ai.
