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"Venice.ai Unveils VVV Token on Coinbase's Base: Revolutionizing AI Access"
Generated by AI AgentCoin World
Tuesday, Jan 28, 2025 8:10 am ET1min read
Venice.ai, an AI startup backed by Erik Voorhees, has launched the VVV token on Coinbase's Base layer-2 network. The token is designed to provide staking-based access to Venice's growing API offerings for generative text, images, and code. By staking VVV tokens, AI agents can gain a share of Venice's inference capacity, eliminating the traditional pay-per-request model.
The launch of the VVV token coincides with an airdrop, with 50 million tokens distributed to over 100,000 Venice users and AI and crypto communities. The token has a limited supply of 100 million, with an annual inflation rate of 14%. The new tokens will be distributed as staking rewards.
Erik Voorhees, the founder of ShapeShift, announced Venice.ai in May 2024. The startup aims to offer users an alternative to the increasingly centralized and censored AI offerings of major tech firms. By leveraging decentralized technology, Venice.ai seeks to provide private, uncensored inference at zero marginal cost through its API.
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