Recap of the panel “The Open AI Economy — From Data → Models → Ecosystems” at Proof of AI · Hong Kong, hosted by PayPal Ventures, @GoKiteAI and @499_DAO. MOD • Jacky Kong — Head of HK, Ava Labs Panelists • Adam Jin @afdtaxm — Advisor, Solana Foundation @SolanaFndn • Yiting Shan @yitingsafox — Strategic Investments, Animoca Brands @animocabrands • Michael @no89thkey — Co-founder & CEO, Brevis @brevis_zk • Vivek Kolli @vivekkolli — Chief Staff, Sentient @SentientAGI The discussion explored how value flows across data, models, applications, and networks, as well as the long-term implications of open versus closed AI ecosystems. Panelists also shared perspectives on building scalable AI + Web3 systems, highlighting the role of verifiable intelligence and ecosystem-level coordination in the open AI economy.