BUGATI Early Access is now live on @base
🏰 https://t.co/X3w6Vjotvy
Three(3) test servers are launching soon, and eligible early players will receive $BUGA to begin their journey.
Enter a fortress-based (MMO) where players build, trade, battle, and earn USDC across a living multiplayer world.
The first wave is limited to 5,000 players.
Register now and secure your place before the gates open.
Onchain agent activity should 1,000x this decade
Right now the real money moving through it is down 77% from its peak.
What's actually broken?
The rails are basically done. This week alone: Ripple shipped an agent-payment kit on x402, and Mastercard launched Agent Pay for Machines - its own protocol, but Coinbase and x402 are right there in the partner list. Base MCP's let agents move money straight from a wallet since May. The load went the other way.
@Base keeps posting $50M in agentic payments, except that's cumulative since last summer, and most of the early run was PING - a pay-to-mint memecoin you could loop for near-zero gas.
Pull that out and two trackers for the same protocol can't even agree with each other. x402(.)org says ~$24M last month. x402scan says ~$1.1M.
Same activity, 20x apart, depending whose dashboard you trust.
The true number is probably the low one. x402scan, Artemis, Liquid Mercury, Paddock all land near $1.1M a month, and Artemis has it down ~77% off a $5.15M peak last November.
And $1.1M is still generous.
Someone broke down a single day onchain on June 10: one wallet ran ~87% of the transactions, the median settlement was $0, and nine of every ten transfers came in under three cents.
A lot of the "agentic economy" right now is one bot paying itself nothing in a loop.
To be fair, not all of it is fake.
The stuff people actually pay for stopped being memecoins a while ago. It's compute and data now - StableEnrich, HYRE Agent, that whole lane.
Chainalysis has tester-to-payer conversion up 4x in six months, with retention creeping up and no real hype cycle to explain it.
Demand exists. It's just tiny, and most people are dunking on the wrong bottleneck.
Out of the box, Base MCP makes you sign every transaction yourself. Fine for a $40 swap. Miserable for a $0.001 API call firing a few thousand times an hour.
At that scale the click costs more than the thing it's buying.
That's the version people screenshot to dunk on agentic payments.
But it's the default.
I funded a separate wallet on @BlockRunAI about a month ago, set a spend cap, and the agent just went.
That's the permission layer doing its job: session keys, smart-contract wallets, signed mandates like what Google's pushing with AP2.
The rail isn't really the bottleneck anymore. Manual approval is half-solved for micro-spend. Hand an agent a real budget and the trust problem is still wide open.
So why does this 1,000x?
The market is real and huge. Juniper has agentic commerce at $1.5T by 2030, and Gartner figures 90% of B2B buying runs through agents by 2028.
But most of that still settles on cards, and cards are fine for it. A $40 checkout doesn't need a blockchain.
The part cards don't handle is how agents actually work.
An agent doesn't make one clean $40 purchase. It makes a thousand tiny calls - a model call, a data pull, a tool, another agent - each worth a fraction of a cent, firing all the time.
Stripe's floor is 30 cents plus 2.9%. On a sub-cent call, it's a 30x loss.
That layer has a pretty narrow set of options: it either stays fake / subsidized / bundled, or it settles somewhere else.
And the somewhere else is onchain.
That's the part people miss. This isn't really a market-share bet against cards. Cards keep the checkout layer. Onchain gets the layer cards can't price.
Today that slice does ~$1.1M a month.
The machine-to-machine flow underneath a $1.5T agent-commerce market should be orders of magnitude larger than that.
Catching even a fraction of a percent is where the 100 to 1,000x comes from.
Because this is the one payments layer with nowhere else obvious to live.
Funniest tell: same week, a16z and Paradigm dropped $175M into Morpho at a $2B valuation.
Onchain credit. $11B already in deposits. Demand that showed up years ago.
Capital isn't really betting on agent payments yet. It's betting on the one onchain rail where the load already arrived.
We flagged this in the BASE piece:
https://t.co/l5gAIaKdFb
This is the second one up close.
The micro layer is already solved - session keys handle the sub-cent stuff.
What's not solved is the layer above:
Who gives an agent its first real treasury, and what has to be true before they do?