A mismatch in price and fundamentals. $KNET ($8 mil) vs $ALCH ($120 mil) @Kingnet_AI Handles everything from 2D/3D modeling to full character rigs, animations, and even code generation, straight from natural language prompts. No code UI means anyone can go from idea to playable Web3 game demo without touching a line of code. Speeds up builds, cuts costs, and lowers the barrier massively. It’s positioned toward Web3 native game devs, indie builders, and small studios. Heavy emphasis on asset generation + end to end prototyping. Basically turns game dev into a visual AI workflow, aimed at getting more content out faster, even if you’re non technical. KNET powers everything, payments, AI queries, and eventually the marketplace for generated assets. Also has governance hooks. Tied to KingNet (large public gaming company), and already plugged into Solana, BNB, TON. Seeing early traction + hackathon wins. Kingnet AI is backed by Kingnet Network Co. Ltd, a publicly listed Chinese gaming giant founded in 2008. With a track record of hit titles like Happy Tower, Shushan Legend, MU Miracle, and World of Warships Blitz, the company is one of the most renowned incubators in mobile gaming. Kingnet AI is built by SmileCobra Studio (Singapore) in exclusive partnership with Kingnet’s Hong Kong arm. Parent company is valued at over $5 billion with $1 billion on its balance sheet. @alchemistAIapp A broader no code platform that converts user prompts into fully functional apps or games. It uses a multi agent AI engine (multiple specialized models) to parse user prompts, generate code, create visuals, and assemble full applications in real time. Targets a wide user base, from hobbyists to Web3 builders, looking to rapidly prototype tools, games, or websites. The UX is very streamlined, for example you enter “a snake game with a brown wooden background”, and Alchemist’s Sacred Laboratory interface organizes AI agents to produce front end code, game logic, and even custom graphics on ALCH is used in the Arcane Forge marketplace and to access Alchemist’s AI services. Users can earn ALCH by selling useful applications or games, the marketplace has tipping and discovery features to reward popular apps. Alchemist was founded in 2024 by a team in Vietnam, is led by Thien Phung Van (founder/CFO), Trong Pham Van (co-founder), and Duc Loc “Louis” Nguyen (CTO). With backgrounds in software and entrepreneurship (Thien was previously CEO/CFO at Vistia), the small team launched Alchemist as an unfunded startup. TLDR; Kingnet AI is specialized, with a focus to automate end-to-end game creation for Web3, backed by proven gaming infrastructure. Alchemist AI is broader in scope, offering a fast, LLM interface for building unique tooling and games with retail appeal. Kingnet is domain deep in gaming, while Alchemist is domain wide across several use cases. Based on this, it’s quite clear Kingnet is severely undervalued in comparison. Kingnet is much earlier in their product lifecycle and haven’t fully fleshed out their UX and interfaces, though the quality of team, experience and backing significantly outweighs Alchemist’s platform while being 15x lower in mcap.