Venice Token (VVV) is the native cryptocurrency of the Venice.ai platform, a decentralised AI ecosystem that provides private and uncensored AI services for text, image, and code generation. The token powers the platform by enabling users to access AI inference services, while maintaining privacy and freedom from censorship. Built on Ethereum’s Base Layer 2 network, Venice Token offers scalability, security, and decentralisation.
Venice Token operates on Ethereum’s Base Layer 2 network, leveraging its scalability and efficiency to facilitate decentralised AI interactions. The platform inherits Ethereum’s Proof of Stake (PoS) consensus mechanism, ensuring secure and efficient transactions.
The project utilises smart contracts for token management and staking rewards, allowing users to stake VVV tokens to gain access to AI inference services and earn rewards. While no specific AI algorithms are mentioned, the Venice.ai platform integrates blockchain technology with AI to ensure decentralised, censorship-resistant AI development and deployment.
Venice Token is designed to support AI, blockchain, and decentralised finance (DeFi) by providing a secure and private infrastructure for AI services.
Venice Token was launched in May 2024 by Erik Voorhees, a well-known figure in the cryptocurrency space. The platform quickly gained traction, amassing over 450,000 registered users.