NEAR Co-Founder Unveils Ideas for AI Pets, Private Trading and Cross-Chain Payments

Date:

Thirteen application concepts encompassing AI-driven pets, private trading, and cross-chain transactions, along with five recommendations designed to assist developers in reaching users, were outlined by NEAR co-founder Illia Polosukhin.

Illia Polosukhin shared in an Oct. 3 X post that incoming and returning creators had been building on NEAR throughout the prior fortnight, while the development process itself had been simplified.

As building hurdles were reduced, product selection and distribution were framed by him as the primary questions that developers now need to tackle.

“Building itself got easier too, so it’s really about what to build and how stand out to get distribution.”

NEAR Payment Ideas Connect Checkout and Event Deposits

A universal checkout widget was proposed by Polosukhin for merchants and application developers, which would allow customers to pay via NEAR Intents using the wallet and blockchain where their assets are currently held.

Under his proposed strategy, the button would be offered directly to merchants by developers in an effort to integrate it into Shopify, while Shopify was presented in his post as a potential distribution target for the new widget.

A registration system was suggested by him for event organizers, which would hold attendees’ deposits in escrow until check-in is completed by the host, after which the pooled funds would be divided among participants who attend, according to his proposal.

Drawing inspiration from a prior project named Kickback, the model was proposed by him for expansion across multiple blockchains and digital assets so that crypto event registrations could be made more reliable.

Wallet compatibility was featured as part of his distribution advice, where users were recommended by him—via Aurora’s Intent Connect—to access applications from other chains without setting up a bridge or learning how to operate on NEAR.

Context for that proposal was provided by an existing integration, as one-signature Sui execution was announced by Aurora Labs on Sept. 17, enabling supported assets from external networks to enter Sui applications through its Intents Connect product. Users were allowed, according to the company, to complete supported actions without separately switching wallets, bridging funds, or acquiring SUI for transaction fees.

It was stated by Aurora Labs that the liquidity, settlement infrastructure, and cross-chain connections were supplied by NEAR Intents, while the integration could be utilized by applications for lending, trading, staking, and yield products.

AI Pets Would Carry NFTs and Computing Balances

An “AI Tamagochi” centered around digital characters represented by non-fungible tokens was proposed by Polosukhin for a consumer-facing application.

In his blueprint, a NEAR balance would be carried by each character to fund AI inference, with verifiable inference being executed by NEAR AI from an onchain-encoded prompt, while feeding and styling options, followed by potential combat arenas and tournaments, were suggested by him.

Related infrastructure for his proposed payment mechanism is already established, as it was reported by on July 31 that staking-based AI payments—which convert locked tokens into monthly computing credits—were introduced by NEAR, and 43 AI models, including offerings from OpenAI, Anthropic, and Google, were covered by the system at launch, according to NEAR.

Ownership of the staked tokens was retained by users, according to the protocol, and retrieval of those tokens could be managed after unstaking, while the computing credits available were determined by their locked balance.

An AI encyclopedia—whose facts would be transformed into continuous prediction markets inspired by the Augur model—was suggested by Polosukhin for another information product, and instead of community editing being relied upon, pages would be generated by AI based on the current market assessment of each fact, according to his proposal.

A separate benchmarking concept was proposed by him to test AI models against private datasets without exposing the underlying material, and certified results linked to a specific model and the identifying hash of the test set were called for in his outline, with a testing framework or privately hosted model being submitted by developers.

Private Trading Proposals Cover Counterparties and Position Management

An obstacle in the existing “private deals” feature of NEAR Intents was identified by Polosukhin concerning over-the-counter trading, namely how finding a counterparty is handled.

It was stated in his post that users currently need to know their trading partners, while a marketplace was proposed by him where available deals could be communicated by participants and filled by others using NEAR Intents.

Viewing keys were suggested by him for social trading to grant chosen customers entry into otherwise confidential transactions, and in his proposal, profit and loss could be displayed publicly by traders while access to the copied activity was restricted for followers.

Under the label “Never get liquidated,” managing lending and perpetual futures positions was also proposed by him using NEAR Intents to generate interest income while controlling liquidation exposure, and the phrase was presented as an application concept rather than a proven guarantee.

Spot holdings would be paired with perpetual futures positions under a distinct strategy proposal utilizing a NEAR contract that manages transactions through Intents, while the concept was described by Polosukhin as “Delta neutral anything.”

A listed route to the network’s token is already provided for U.S. investors, as the launch of its U.S. NEAR ETF on NYSE Arca under the ticker NRR with a 0.75% management fee was announced by Bitwise on Sept. 29. Direct holdings of NEAR are maintained by the fund, and plans were outlined by the asset manager to stake those assets, with rewards accruing through its net asset value.

When Bitwise’s investment case was explained by chief investment officer Matt Hougan, NEAR Intents was cited by him as an example of settlement infrastructure for AI agents handling activities such as payments and swaps.

Private AI Tools Would Handle Code, Health Data and Recordings

An agent that would be tasked with privately reviewing confidential pull requests via NEAR AI—complete with verifiable execution—was proposed by Polosukhin for software engineering teams.

A frontend that would be utilized to encrypt medical data end-to-end prior to transmission to NEAR AI for a secondary diagnosis was suggested by him in the healthcare sector, and cryptocurrency and fiat transactions were paired in his proposal alongside custom prompts housed within NFTs, which could be selected by users to access varying levels of agent expertise.

A private transcription application modeled on Granola was outlined by him for desktop users, and according to his design, processing of the transcription would be handled by NEAR AI while local record-keeping was maintained by users, with backups being encrypted using their personal keys.

Funding the transcription service through NEAR staking was suggested by him as a viable alternative to conventional subscription payments.

A capitalization-table tool equipped with accompanying fundraising instruments, cryptocurrency payment acceptance, and banking support was included by him in his list for enterprises securing capital.

Regarding distribution, developers were advised by Polosukhin to engage NEARLegion, reach other communities through cross-promotion, and promote their products across Product Hunt, similar discovery platforms, and X.

Marton K.
Marton K.https://thecoingraph.com
Marton is seasoned crypto and finance journalist with over four years of experience. He has contributed to several high-profile outlets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Stablecoin Issuers Replace 40% of China’s Lost US Treasury Demand

As foreign official holdings retreat, crypto firms are identified...

SBI Proposes Stablecoin QR Payments for Japan-Korea Travel

SBI DigiTrust, alongside NICE Information & Telecommunication and DSRV,...

SEC Targets Custody Hurdle for Advisers Providing Crypto Services

Certain crypto assets have remained off-limits for some clients...

HSBC Redcoin to Launch With Transfers and Payments in Hong Kong

Person-to-person transfers and merchant payments will be prioritized initially...