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AI Boom Spawns Scam Tokens: Venice Token Surges, Coinbase Lists Base-Layer AI

Coin WorldMonday, Jan 27, 2025 7:29 pm ET

1min read

Scam tokens have surged in popularity as DeepSeek AI goes viral, with projects like Venice Token (VVV) gaining significant attention. Based on DeepSeek, Venice Token announced a token airdrop to active Base ecosystem users, including holders of various other tokens. At the time of the announcement, Venice Token had a market cap of approximately 2.1 billion U.S. dollars, with a coin price of 21 U.S. dollars.

Venice Token, launched on January 27th, supports access to leading models such as Llama 3.3, QWEN 2.5 Coder, and the new DeepSeek. AI agents and users staking VVV tokens can freely access the Venice API. The project's popularity has led to Coinbase announcing its intention to list the Base-layer AI concept token, with trading expected to be available on Coinbase and Coinbase Exchange once a sufficient asset supply is established on the VVV-USD trading pair.

The surge in interest in DeepSeek AI and related projects has also led to an increase in scam tokens, with investors urged to be cautious. While the potential of AI in the crypto space is significant, the lack of regulation and the ease of creating new tokens make it a prime target for scammers. Investors should conduct thorough research and be wary of any project that promises unrealistic returns or lacks a clear roadmap.

The rise of scam tokens is not a new phenomenon, but the popularity of AI projects like DeepSeek has exacerbated the issue. As the crypto market continues to evolve, investors must remain vigilant and prioritize due diligence when considering new projects. The allure of high returns and cutting-edge technology should not overshadow the importance of careful consideration and thorough research.

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