Messari spotlights AI startup 'ChatAndBuild'…"Will establish a new standard"

Global blockchain research firm Messari has spotlighted the AI startup ChatAndBuild. Messari analyzes that ChatAndBuild is demonstrating the potential of the next-generation AI model 'Non-Fungible Agent (NFA)'.

According to industry sources on the 21st, Messari recently released a report analyzing ChatAndBuild's technology and business model. In the report, Messari evaluated that "ChatAndBuild is positioning itself as a company that is transforming AI from a 'service model' into an 'auditable and tradable asset'."

ChatAndBuild is a Singapore-based AI development startup founded earlier this year. Based on the blockchain 'Binance Coin (BNB) Chain' developed by the world's largest cryptocurrency exchange Binance, it supports a service that allows creation, training, and ownership of Non-Fungible Agents in multilingual and multichain environments. ChatAndBuild's platform acquired more than 150,000 users within six months after its official launch in May.

ChatAndBuild has recently formed successive partnerships with major tech companies including OpenAI, the developer of ChatGPT, Google Cloud, and Anthropic. Gunkan, a Messari research analyst, explained, "ChatAndBuild is designed to lower the barriers to software (SW) development," adding, "(ChatAndBuild's) initial growth was driven by an interactive interface that helps users turn their ideas into actual products."

App creation by entering an idea

What Messari focused on is ChatAndBuild's simplified software development approach. The ChatAndBuild platform turns a user's idea into a functioning application (app) via an AI-based code generation model. Messari said, "(ChatAndBuild is) designed for mobile-first use, enabling users to build and deploy apps directly from their phones," adding, "It supports more than 40 languages and closely integrates with over 50 domain name system (DNS) providers such as GitHub to streamline every step from idea conception to deployment."

Thanks to this simplification, more than 100 apps are being created on ChatAndBuild every day. Christel Buchanan, ChatAndBuild's founder and CEO, said, "Everyone with an idea should have the tools to build, customize, and even own their vision without technical barriers."

Messari emphasized, "At the core of the innovation driven by ChatAndBuild is the Non-Fungible Agent." A Non-Fungible Agent is a concept that combines AI and non-fungible tokens (NFTs), and unlike traditional AI, each model has a unique identity and individual behavior patterns, making them mutually non-interchangeable. Messari said, "A Non-Fungible Agent is an AI agent that can be created, owned, trained, and traded as a permanent on-chain asset," and explained, "ChatAndBuild aims to convert service-based AI into asset-based AI so that creators, not platforms, retain ownership of the intellectual property they create."

ChatAndBuild's Non-Fungible Agents are issued through 'Proof-of-Prompt (PoP)'. Proof-of-Prompt is a core technology that permanently preserves an NFA's training, configuration, and usage records, making it an auditable asset while protecting personal data. CEO Buchanan stated, "If intelligence can be verified and transferred, creativity itself becomes a shareable value."

"Will contribute to the development of the 'AI ownership economy'"

Messari sees ChatAndBuild pursuing a phased growth strategy. According to Messari, ChatAndBuild is focusing in the short term on user onboarding and language expansion. In the medium term, ChatAndBuild's goal is to increase NFAs' cross-chain compatibility by integrating with other blockchains such as Ethereum (ETH) and Solana (SOL). Developing 'cognitive derivative instruments' such as futures and options is also one of the medium-term objectives.

ChatAndBuild's long-term strategy is to expand institutional adoption. Messari said, "ChatAndBuild aims to make Non-Fungible Agents a mature asset class while introducing NFAs to Fortune 500 companies," and explained, "(Another long-term strategy is) to introduce financial derivatives such as futures, options, and exchange-traded funds (ETFs) to enable institutional investor participation and risk management." CEO Buchanan said, "Ownership of (Non-Fungible) Agents will become a core layer of creative and technical capabilities."

Messari analyzed that ChatAndBuild could play a leading role in establishing standards for AI ownership. It has reinterpreted NFTs as AI agents that can be trained and customized, and by combining technology trends like AI, no-code, and blockchain, it is forming a new asset class. Messari forecasted, "Non-Fungible Agents can establish themselves as a field of digital assets," adding, "If the area continues to attract attention, ChatAndBuild will contribute to the development of the 'AI ownership economy.'"