Venice Launches VVV Token on Ethereum Layer 2 Network Base
Venice has launched its VVV token on the Ethereum Layer 2 network, Base. This initiative aims to integrate blockchain with artificial intelligence (AI) and enhance accessibility while eliminating intermediaries.
Key Features of Venice AI
- Offers censorship-free access to AI through open-source models and decentralized infrastructure
- Reduces costs and friction compared to traditional AI systems
- VVV token allows AI agents and developers to access platform capabilities via API
- User-friendly design enables interaction without mandatory use of VVV tokens
- Platform has gained popularity since its launch in May 2024, with over 450,000 users
- Handles thousands of AI requests hourly
- Aims to provide equitable AI access free from corporate or governmental control
VVV Tokenomics Overview
- Total supply: 100 million VVV tokens
- 25 million tokens allocated to over 100,000 registered users
- 25 million tokens for AI community protocol accounts on Base
- 35 million tokens reserved with 10 million each for the team and an incentive fund
- 5 million tokens dedicated to liquidity for easier access to AI services
- Staking available for VVV token holders to earn rewards and access more features
- 14 million new tokens will be added yearly, starting with a 14% inflation rate
- New tokens distribution based on demand for AI services
The launch follows trends of merging AI with blockchain technologies, similar to projects like Virtual Protocol and Ai16z, highlighting the growing interest despite scalability and regulatory challenges.