AI Token Launch Plummets on Virtuals Platform

The launch of new AI agents on the Virtuals platform has plummeted in February, coinciding with a sharp drawdown in AI token prices, according to data from Dune Analytics. The number of new AI agent tokens launched on the Virtuals platform in February has fallen to fewer than 100, a significant decrease from the peak in November when as many as 1,300 new pairs debuted in a single day.

Virtuals, an engine for launching AI agents and associated tokens, was originally deployed on the Ethereum layer-2 network Base and is preparing to expand to Solana, a hub for AI token activity. The protocol is known for hosting AI agents such as Aixbt, which monitors social media sentiment to identify promising cryptocurrency trades and operates its own X account. As of February 7, the AIXBT token traded at a market capitalization of over $200 million.

In total, developers have launched more than 17,000 AI agent tokens on Virtuals, with fewer than 100 trading at market capitalizations of over $1 million. However, the sharp drawdown in AI token prices has affected the market capitalization of top agentic AI platforms. According to data from CoinGecko, AI tokens are down by as much as 90% from their 2024 highs, with top platforms such as ARC, AI16Z, and VIRTUAL shedding between 75% and 90% of their market capitalization since January.

Agentic AIs, machines pursuing complex goals autonomously, are reshaping the digital economy by contributing to Web3 applications, launching tokens, and interacting with humans autonomously. Asset manager VanEck expects blockchain networks to be populated by AI agents by the end of 2025.