OKX Ventures Research Report: Panoramic insights into intelligent business, architecture, trends and implementation paths

OKX

Definition of Agentic Commerce: Agentic Commerce is a business model driven by AI agents that represent users in tasks such as searching, comparing, and purchasing, aiming for personalized, secure, and convenient shopping experiences.
Core Shift: User roles change from executors to principals, with business decisions moving from checkout pages to the intent layer, disrupting traditional e-commerce logic and marketing.
Key Challenge: Traditional payment systems are anti-automation and incompatible with Agentic Commerce, making payments a bottleneck that requires solutions for authorization and intent verification.
Solution Path: Divided into three stages: human-supervised assistance agents, controlled agents within authorization (e.g., virtual card solutions), and autonomous economies with native wallets (Crypto-driven).
Project Analysis: Comparison of projects like Skyfire, Payman, and Catena Labs, each focusing on authorization, intent verification, and identity issues with different technical approaches.
Commercialization Models: Based on the intent layer theory, merchants need to optimize API readability, while financial infrastructure providers monetize through authorization and payment services, fostering new business models.
Role of Crypto: Crypto provides machine-native infrastructure, such as decentralized identities, smart contracts, and stablecoins, serving as the ultimate solution for Agentic Commerce.
Future Outlook: Traditional payment solutions (e.g., Stripe, Visa) will dominate the early market in the short term, while Crypto solutions will become prominent in the long run, enabling true autonomous economies.