The post Venice AI Airdrop: How the $1B Launch Elevated VVV Price in Just 2 Hours appeared first on Coinpedia Fintech News
Venice AI, the private and uncensored alternative to popular AI apps developed by Erick Voorhees, recently released a token named Venice Token (VVV). The token, launched on Base, a layer-2 network of Ethereum, has triggered excitement in the cryptocurrency market.
According to reports, within just two hours of its launch, VVV attained a fully diluted valuation of over $1 billion. Currently, the FDV of VVV stands at $1,644,752,372. In the last 24 hours alone, the market has grown by 56.5%. Curious to know more? Read on!
Venice Token Launch and Valuation Success
It was on January 27 that Venice Token was officially launched. As per reports, within just 2 hours of the launch, the FDV of VVV reached as high as $1 billion. At one point on January 28, the market cap of VVV was around $390,336,994. Currently, the market cap remains at $338,704,512 – at least 13.22% below the aforementioned peak. The 24-hour trading volume of VVV is around $487,723,885.
Venice Token Distribution Breakdown
The total supply of Venice Token is at least 100,174,475. At least 50% is earmarked for airdrops to Venice users and the crypto x AI community, 35% for the Venice.ai company, 10% for the Venice Incentive Fund, and 5% for liquidity deployment.
In other words, at least 50 million VVV is designated for the airdrop process, around 35 million for the company, nearly 10 million for the fund and over 5 million for the liquidity deployment purpose.
Venice’s Growth and Developer Focus
Venice uses leading open-source AI technology to deliver uncensored, unbiased machine intelligence. It stands out for its commitment to privacy.
The platform currently has at least 400,000 registered users. Its average inference requests per hour remains at around 15,000.
Venice’s DeepSeek Connection: Explained
DeepSeek is the latest sensation in the crypto community. It has created havoc in the US AI projects landscape with its low-GPU, cost-effective, AI model. However, the way the platform handles data as its Chinese connection has raised serious concerns. In a recent statement, Voorhees assured that when DeepSeek R-1 is used through Venice, no data can be stolen.
Venice AI’s remarkable token launch shows how the crypto world intersects with AI innovation. With its privacy focus, rapid growth, and a promising token model, Venice is making waves in both sectors.