REUSABLE NETWORKS: WHY AI MAKES CRYPTO'S NETWORK EFFECTS VALUABLE

Summary from the TLDR Crypto newsletter

As AI drives software production costs toward zero, value migrates from applications to the networks they compose with: protocol liquidity, on-chain identity graphs, reputation systems, and settlement rails. AI can clone interfaces and regenerate code in minutes, but it cannot reproduce the provenance of an NFT, the liquidity depth of Uniswap, or the trust accumulated in USDC. This reframes crypto's composability thesis: when any application becomes a commodity, the scarce asset is access to the shared state layer underneath. Blockchains were designed as canonical internet-layer state, and in a world where agents need reliable, permissionless coordination infrastructure, that original premise becomes a stronger value proposition.