Project hub

Figure

6 pieces · Jul 2024 to Oct 2026 · 2 flagship

Sectors

Robotics4 AI3 DePIN2 RWA2 Stablecoins2 Tokenized stocks2

Search every mention All projects

Coverage per year

22024

2025

42026

Start here · the strongest pieces on Figure

Map13 Aug 2026Humanoid robot race: valuations of 90 companies across US, China, EuropeLineup of 90 physical AI companies with valuations by region (US, China, Europe, rest of Asia), backed by a sourced spreadsheet as of Aug 13, 2026. Flags that some marks are stale or in-talks, e.g. Boston Dynamics at $3.4B is only an old put-option reference.Article24 Jul 2024The State of RWAs: A Multi-Trillion OpportunityLong-form tour of onchain RWAs by category: stablecoins, treasuries ($1.9B), private credit ($8.4B active loans), bonds, commodities ($890M) and stocks ($6M). Ends with an endgame thesis of chain-abstracted, agent-driven access to tokenized assets.Thesis07 Sep 2026machine.fun and Codec: financing machines onchainArgues crypto's next financialization is machines: robotics VC reached $50B+, Unitree's retail tranche was 8,000x oversubscribed, and machine.fun gives prototype-stage hardware founders a launchpad. Codec gains a path from browser prototype to Foundry to crowd raise.

Timeline · every piece, newest first

2026 4

15 Oct 2026Robotics data moat: Microagi at $100M run rate and no internet of actionsArgues robot training data cannot be scraped, so data vendors capture value: Microagi reports a $100M run rate six months in, XDOF is raising at $1.2B and Skild passed $100M ARR. Caveats: self-reported run rate, and demand depends on VC-funded labs.Market takeRoboticsAIDePIN

15 Oct 2026Robotics primer: why robo szn is happening now and crypto's three lanesRobotics capital arrived before understanding: Unitree ~$50B, Figure $39B, Skild $14B. Argues the brain is commoditised, actuators are 40 to 60% of humanoid BOM, the moat is teleop data, and crypto's lanes (provenance, capital formation, coordination) total under $1B.ThesisRoboticsAI

07 Sep 2026machine.fun and Codec: financing machines onchainArgues crypto's next financialization is machines: robotics VC reached $50B+, Unitree's retail tranche was 8,000x oversubscribed, and machine.fun gives prototype-stage hardware founders a launchpad. Codec gains a path from browser prototype to Foundry to crowd raise.ThesisRoboticsDePIN

13 Aug 2026Humanoid robot race: valuations of 90 companies across US, China, EuropeLineup of 90 physical AI companies with valuations by region (US, China, Europe, rest of Asia), backed by a sourced spreadsheet as of Aug 13, 2026. Flags that some marks are stale or in-talks, e.g. Boston Dynamics at $3.4B is only an old put-option reference.MapRoboticsAIOther

2024 2

24 Jul 2024RWA market thread: stablecoins, treasuries, credit, bonds, gold, stocksData thread on onchain RWAs: $160B stablecoins (70% USDT), about $2B tokenized treasuries with BUIDL near $500M, $8.4B private credit led by Figure, $22M bonds, $886M gold and $6M tokenized stocks versus $109T in TradFi.DataRWAStablecoinsTokenized stocks

24 Jul 2024The State of RWAs: A Multi-Trillion OpportunityLong-form tour of onchain RWAs by category: stablecoins, treasuries ($1.9B), private credit ($8.4B active loans), bonds, commodities ($890M) and stocks ($6M). Ends with an endgame thesis of chain-abstracted, agent-driven access to tokenized assets.ArticleRWAStablecoinsTokenized stocks

Often covered with

Unitree12 A1 Research39 peaq12 BlackRock12 Ondo11 machine.fun5 Codec13 Franklin Templeton6

Working together

Research, advisory and builds for deep-tech teams.

View CV A1 Research