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Home » Crypto Market News » Venice AI Token Surges to .65 Billion Market Value in Hours After Launch

Venice AI Token Surges to $1.65 Billion Market Value in Hours After Launch

  • January 28, 2025
  • 34

Venice AI, an innovative platform specializing in privacy-focused artificial intelligence, has successfully launched its token, the Venice Token (VVV), on the Ethereum layer-2 Base. Remarkably, within a mere two hours of its release, the token achieved a fully diluted value of over $1 billion, reflecting significant early enthusiasm from investors. Data indicates that this milestone was reached just after 6 PM UTC on January 27, following its debut about an hour and a half earlier.

Currently, the fully diluted value of VVV stands at approximately $1.65 billion, with a market capitalization of around $306.4 million. Out of a total supply of 100 million tokens, 25 million have been made available to the public, resulting in the establishment of over 13,200 tokenholders, according to recent information from the Base blockchain explorer.

The platform incentivizes token holders by providing free and ongoing access to its API for generative text, images, and code, utilizing advanced AI models, including the newly introduced DeepSeek R-1. This model, developed by a Chinese AI firm, has attracted attention within both the U.S. and crypto markets due to its open-source nature, competitive capabilities, and lower computational requirements compared to industry leaders. Despite concerns surrounding data privacy, the platform assures users that their data remains secure when utilizing the R-1 model through Venice.

In terms of token distribution, 25 million tokens are set aside for eligible Venice users, while another 25 million are designated for select users of the Base ecosystem, particularly those holding tokens like Aerodrome Finance and Virtuals Protocol. The tokenomics allocate 35% to Venice, 10% to an incentive fund, and 5% for liquidity, with an annual emission of 14 million tokens.

Since its inception in May, Venice AI has registered over 400,000 users and experiences around 15,000 inference requests every hour. Erik Voorhees, a recognized Bitcoin advocate and founder of the crypto exchange ShapeShift, spearheads the platform, emphasizing a commitment to privacy and decentralization.

This site is registered on wpml.org as a development site.