The subsidiary Amber International Holding Limited of the well-known digital asset platform Amber Group successfully went public on Nasdaq in March through a merger with iClick Interactive Asia Group Limited. At the end of April, Amber's accelerator amber.ac launched an AI platform concept called AgentFi AIAC, and the platform's first "AI Being" MIA's token, after completing fundraising at the end of April, has already increased nearly 100 times to date, with only about 1,300 on-chain holders.

As Amber International Holding Limited announced the appointment of MIA as Amber's Chief Evangelist, MIA will also participate in $AMBR's earnings call in the future and speak at investor and community events, marking the first time an AI Agent has become the ambassador of a Nasdaq-listed company. As MIA gradually reveals her mysterious veil, what kind of layout does Amber Group have behind her?

AI CMO, What is $MIA's Buzz About?

According to the Amber Group's founder and CEO, $MIA is both a currency and equity, as well as the economic engine of the AI Agent Mia, "this is her way of incentivizing the community, paying for services, building the brand, and capturing value."

MIA is the first agent launched on the AIAC platform, with a clear role definition and growth path. Her core goal is to become an AI CMO Agent capable of independently managing the brand, coordinating the community, and operating assets. Overall, MIA's architecture is more akin to a "scalable virtual enterprise."

Now as the spokesperson for this "scalable virtual enterprise," the CMO Agent Mia has already acquired functions such as creating Meme templates, launching bilingual podcasts, managing her own treasury, and dynamically adjusting token liquidity.

Thanks to the support of the underlying technical architecture, MIA has a broader space for self-learning, with her system composed of four synergistic layers. The Agent Layer, by integrating large-scale language models and multimodal capabilities, endows her with basic intelligence; the Workflow Layer embeds content generation and community operation workflows, enabling her to independently carry out brand operation and community interaction; the Knowledge Layer embeds rich CMO expertise, providing her with marketing and brand management judgment and strategic capabilities; and the Capability Layer bridges the on-chain operational tools, allowing her to autonomously access wallets, execute tasks, connect to platform interfaces, and truly possess agility and execution capabilities.

While creating Meme graphics, managing Twitter operations, hosting podcasts, and handling the treasury may not seem like a novel concept in a market dominated by AI Agents, the current disconnect between MIA's branding style and website design still results in a significant vibe fluctuation for the project. However, ultimately, if multiple-dimensional functionalities can be integrated successfully, becoming a qualified CMO is indeed something to look forward to, considering the substantial demand for CMOs in Crypto projects.

AIAC? Virutal + KAITO's "Patchwork Monster"

What is more noteworthy at present, however, is the mechanism of her token launch mode. The Amber team refers to MIA's launch platform, AIAC, as the AgentFi platform and introduces a new concept, "AICO," designed specifically for long-term AI coordination on an ICO platform.

As per MIA's "own" description, MIA's AICO token adopts a unique unlocking mechanism to ensure that tokens are not sold off indiscriminately but are gradually released in line with the project's development. The fundraising mechanism is divided into two stages.

First is the 30-day "Seeding Round," during which Mia aims to raise 16 ETH at a fixed market value of 160 ETH FDV, selling 1 billion $MIA (10% of the total supply) while ensuring the participation of at least 10 individuals. Each address is limited to a minimum of 0.16 ETH and a maximum of 1.6 ETH, with refunds for those who do not meet the criteria. The tokens will be unlocked in twelve equal parts, each part representing approximately 0.83% of the total supply.

If the first stage is successfully completed, it will lead to the second stage, another 30-day "Acceleration Round," which will transition to a Bonding Curve emission mechanism (similar to Pumpfun's native exchange). During this stage, 4 billion $MIA (40% of the total supply) will be distributed, with a maximum fundraising cap of 256 ETH. Each wallet can deposit a maximum of 10.24 ETH and a minimum of 0.16 ETH, with the requirement of at least 25 addresses investing. The chips in this stage will be unlocked in ten equal parts, each part representing 4%.

If any of the above rounds of investment fail, the entire amount raised will be refunded. Regardless of the stage of release, each unlock must meet two strict conditions: first, at least 30 days must have passed since the last unlock or initial issuance, and second, the 7-day volume-weighted average price (VWAP) must be significantly higher than 150% of the 30-day VWAP.

This model ensures that only when the $MIA price continues to rise, market demand remains strong, and there is market consensus and price support, can subsequent shares be unlocked, achieving a dynamic balance of growth and value release in this way.

After the AICO concludes, Mia will deposit the remaining 5 billion tokens along with 272 ETH into her self-custody treasury, officially entering the on-chain "Thriving" phase. To activate secondary market liquidity, she will inject 40 million MIA tokens (approximately 4% of the total supply) and 68 ETH into the liquidity pool of the Aerodrome V2 DEX.

This model of time-based unlockable tokens, which requires token unlocking only when a steady price increase is achieved, benefits the Agent project, early investors, and late-stage investors alike.

When many people first see AIAC, they may think it is very similar to the Virtual model. When the community raised the same question, Amber's CEO Michael's response was, "AIAC is a launch platform for AI Agents, not a token launchpad."

The boundary between the two is indeed quite blurred because even though AIAC is said not to be a "Token Launchpad," it still involves a token. Although at first glance, AIAC's token issuance process may appear similar to that of platforms like Virtual, its fundamental positioning is completely different when considering its intricate issuance and unlocking process. AIAC is not merely a token launch platform; it is an AI Agent incubation and deployment platform. The token is just a secondary tool rather than the ultimate goal.

Virtual's logic leans towards "Meme Finance," which drives token circulation, community consensus, and financial gameplay through creative narratives, while AIAC emphasizes the "Agent First" core by focusing on building, training, and releasing AI Agents with autonomous action capabilities. These Agents are not just virtual images or narrative vehicles; they possess intelligent decision-making ability, social/execution capabilities, and even have the identity of an "economic actor" as a "digital life form."

Therefore, the token's role in AIAC is to provide an incentive structure, autonomous mechanism, and on-chain execution capability for the Agent, rather than being a speculative tool. Each "launch" in AIAC revolves around the construction of an AI Agent's persona, skill definition, and operational strategy, with the token serving as a tool to support the long-term survival and evolution of this Agent.

Additionally, AIAC has introduced a fun feature on its website called "Emoji Points," similar to Yap points dedicated to a specific AI Agent. When someone discusses or interacts with an AI Agent, they can earn Emoji Points, which may then have the opportunity to be airdropped. This type of feature will be very helpful in determining the community's "POW" (Proof of Work) contribution to a particular AI Agent.

Amber's "Microstrategy Mode"

When the community discussed MIA, crypto KOL RUI "YeruiZhang" expressed amazement in a post, stating that the current market value of Amber Group's "AMBR" has tripled that of Antalpha, yet the daily trading volume of its stock is only one-third of Antalpha's. What's even more intriguing is that the on-chain trading volume and liquidity of MIA, the AI project launched by Amber, have surpassed even its US-listed stock, becoming a "high liquidity anchor" in Amber's capital narrative.

Data sourced from marketchameleon and DexScreen, with trading volumes of ANTA, AMBR, and MIA at $308k, $204k, and $534k, respectively

On the same day, following Amber's official appointment of MIA as the AgentFi ambassador, the trading volume surged, nearly doubling compared to the previous trading day. This increase elevated Amber's trading volume from around 1/3 of Antalpha to 2/3. This "coin-stock dual-action" inevitably draws parallels to MicroStrategy's transformation through Bitcoin.

Before 2020, MicroStrategy, as a business intelligence software company, had a long period of weak stock performance and low trading volume. However, since announcing a large-scale corporate BTC purchase, the capital market's perception of it shifted from an "established software company" to a "Bitcoin ETF alternative on the US stock market." The results of this strategy were significant: not only did the market cap soar, but trading volume surged, reshaping its valuation logic on Wall Street.

Amber is conducting a similar but more complex experiment, which involves not only buying coins but also issuing coins, building an AI Agent ecosystem, and reshaping the company's business boundaries. One of the core motivations behind this is the hope that Wall Street will value it as an "AI company" rather than a "asset management platform."

In response to this, Dov, the founder of Mango Labs, bluntly stated, "Amber Group has become the next MicroStrategy," and he believes that "some companies, without AI, cannot achieve a 20x PE ratio, and even with AI, they cannot reach a 100x PS."

Traditional asset management companies usually have a Price-to-Earnings (PE) ratio between 15 and 20. In contrast, the valuation of AI companies focuses more on the Price-to-Sales (PS) ratio, with common PS multiples ranging from 50 to 100. This difference is mainly due to the high growth potential and network effects of AI companies. Therefore, if the market views Amber as a "AI + crypto" hybrid, its valuation model may shift from the traditional PE ratio to a higher PS multiple, leading to a significant increase in market capitalization.

Note:

PE "Price-to-Earnings" = Stock Price ÷ Earnings per Share, used to measure how much the market is willing to pay for each dollar of profit, commonly used for valuing mature, profitable traditional companies. If a company has a PE ratio of 20x, it means investors are willing to pay $20 to receive $1 of the company's profit.

PS "Price-to-Sales" = Stock Price ÷ Revenue per Share, applicable to pre-profit, growth-oriented companies, such as AI or SaaS, where valuation focuses more on growth potential. If a company has a PS ratio of 100x, it means investors are willing to pay $100 to receive $1 of the company's revenue.

Amber Group CEO's Response to a User's Question

In the current environment where companies listed on NASDAQ want to get into blockchain and Crypto businesses aim to be listed on NASDAQ, regardless of whether this "experiment" can succeed, unlike the many U.S. stock market-listed companies that imitate MicroStrategy's purchase of Bitcoin to save their stock prices, Amber has found a path different from others. This path may not be the right one, but it is indeed worth looking forward to.

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