Launch of the VVV Token
The much-anticipated VVV token has officially launched on the Ethereum Layer 2 Base network, courtesy of the Venice platform co-founded by Erik Voorhees.
This launch marks a significant milestone, featuring a pioneering airdrop that is specifically geared toward AI agents.
In a bold move, the team has allocated an impressive 25% of the primary token supply to various protocol accounts that support the AI community on Base, including virtual entities and intelligent agents like Luna, aixbt, and VaderAI.
Moreover, Venice has also decided to reward its early adopters.
Another 25% of the VVV supply was airdropped to over 100,000 users, recognizing their support and engagement with the platform since its inception in May 2024.
Designed for ease of access, Venice allows users to interact with decentralized, open-source AI models to create text, images, and code through a user-friendly web and mobile interface—no downloads or user accounts are required for basic functionalities.
User Privacy and Token Distribution
A key focus of Venice is ensuring user privacy.
Conversations are stored locally in users’ browsers, and data is encrypted during transmission, all while decentralized GPUs handle processing tasks.
Out of the total supply of 100 million VVV tokens, half has been designated for airdrops aimed at the Venice user base and the broader crypto and AI communities.
The remaining tokens fund the platform’s treasury, operational team, and liquidity reserves.
Users can stake their VVV tokens to gain ongoing access to Venice’s API offerings; in fact, 1% of staked tokens corresponds to 1% of the total available API capacity.
The Venice platform emphasizes that inference is a critical resource for AI agents.
This understanding positions the VVV token as a means to harmonize the interests of token holders with those involved in the generative AI field.
By utilizing the token, users can access AI capabilities without incurring extra costs, all while maintaining their privacy in a decentralized environment.
Future Prospects and Market Position
To date, Venice has attracted over 450,000 registered users, with about 50,000 engaging actively on a daily basis.
The platform efficiently processes more than 15,000 inference requests each hour.
Early adopters must claim their airdropped tokens by March 13, 2025, to benefit from this unique opportunity.
Voorhees highlighted the necessity of facilitating a relationship between humans and AI that operates free from the constraints of central oversight.
He believes that Venice emerges as a strong alternative to more conventional AI platforms, emphasizing user privacy and minimizing censorship.
Currently, the VVV token is available on several leading decentralized exchanges within the Base network.
As per Dex Screener, it is trading at approximately $16.4, boasting a market cap around $272 million.
With this innovative launch, Venice is poised to make waves in both the crypto and AI sectors.
Source: Cryptobriefing
