My read on Web3 x AI right now: The market is finally filtering. Fewer early checks, slower deals and less appetite for 'AI + token' with no product. What's getting funded now actually has usage, revenue, or a clear wedge. At the same time, the real signals are obvious: -> $300B+ stablecoins: core settlement rails -> $29B+ RWAs: actual market infrastructure -> Onchain markets: 40–45% non-crypto volume -> 10K+ MCP servers: agent ecosystem standardizing fast Value is clearly moving up the stack. Not in models, but in interfaces, agents and products that own workflows and distribution. - Crypto became infrastructure. - AI became a commodity. What wins now: distribution, workflow ownership, and actual revenue. We're in the filter phase, only real businesses survive here. What's actually shipping with real users right now?