Erik Voorhees-backed AI startup Venice debuts VVV crypto on Base

The artificial intelligence startup Venice, supported by Erik Voorhees, announced her own VVV token on the Coinbase basic network.

With advances on AI like the depth of China attract attentionVenice – Supported by Erik Voorhees – marks his passage to web3 by launching the VVV cryptocurrency on the basic network 2 of Coinbase.

With the token, Venice wants to make its API more accessible by allowing AI agents to join VVV tokens for continuous access to its growing offers for text, images and generative code.

This decision is expected to eliminate the usual model of remuneration on demand, allowing agents to join the tokens and to gain part of the Venice inference capacity. “If you browse 1% of VVV, you get 1% of the growing Api capacity of Venice, indefinitely. You do not pay by request, ”said the company in a January 27 blog ad.

Venice also launched an air publication alongside the token announcement, offering 50 million VVV tokens. Half went to more than 100,000 Venice users, and the other half was distributed to AI and cryptography communities like Virtuals, Luna and Vadeerai.

The VVV token is limited in supply, with 100 million VVVs created at launch. Each year, 14 million more will be added, indicates the announcement of the blog. The new tokens will be distributed in the form of cleansing awards.

The founder of Shapeshift, Erik Voorhees, announced his startup AI in May 2024, committing to double decentralization, privacy and technology without authorization. At the time, Voorhees explained that Venice aims to offer users an alternative to AI offers increasingly centralized and censored by large technological companies such as Openai or Anthropic.