Erik Voorhees-Endorsed AI Business Venice Introduces VVV Virtual Currency on Base
Venice, an artificial intelligence business backed by Erik Voorhees, has presented its unique VVV token on Coinbase’s Base network.
This action signifies Venice’s arrival into the web3 realm, corresponding with developments in AI innovations such as China’s DeepSeek. Venice intends to make its API more available by allowing AI representatives to stake VVV tokens for continuous access to its expanding collection of text, image, and code generation items.
According to the business’s blog statement, this method removes the standard pay-per-request design, enabling representatives to stake tokens and acquire a part of Venice’s inference capability. “If you stake 1% of VVV, you continuously get 1% of Venice’s growing API capability. You never require to pay per demand,” the company mentioned in its January 27 blog entry.
Venice likewise introduced an airdrop, distributing 50 million VVV tokens along with the token statement. Half went to over 100,000 Venice users, and the other half went to AI and crypto neighborhoods like Virtuals, Luna, and VaderAI.
The supply of VVV tokens is topped, with 100 million VVV produced at launch. The blog statement specifies that 14 million new tokens will be added each year, dispersed as staking benefits.
ShapeShift creator Erik Voorhees revealed his new AI endeavor in May 2024, assuring a higher concentrate on decentralized, private, and permissionless innovations. At the time, Voorhees described that Venice intends to supply users TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America an alternative to the significantly centralized and censored AI items of significant tech companies like OpenAI or Anthropic.
