The cryptocurrency market has experienced a decline for nearly a week, but some strong coins have seen a rebound before Christmas. For example, the AI Agent project Virtuals Protocol's token VIRTUAL surged nearly 20% within 24 hours, and its market cap has once again surpassed 3 billion dollars. It seems that the overall market decline is unrelated to this.
Not only is there growth in the Virtuals token, but the tokens within its ecosystem have also achieved a general increase. According to Coingecko data, the overall market cap of Virtuals Protocol ecosystem tokens has increased by about 35% in the past 24 hours.
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Virtuals Protocol is an AI Agent launch platform for games and entertainment launched on Base in January 2024. Its main product function is to serve as a launchpad for AI Agents, allowing anyone to easily deploy AI intelligences, similar to how Pump.fun serves as a launchpad for memecoins. Thanks to its token issuance function similar to Pump.fun, it has become a shovel-like existence in the Base ecosystem, and coupled with the surge of on-chain traffic in recent months, its token price has experienced repeated increases.
At present, how far has the project ecosystem developed? In addition to VIRTUAL, what other projects in the ecosystem are worth paying attention to?
Reasons for the success of the Virtuals project
Virtuals is an officially supported project on the Base chain, with the Base official providing some technical and marketing support. Currently, most of the traffic on Base is concentrated on Virtuals, which can be said to bear the responsibility of challenging Solana single-handedly.
The project chose to launch on the Base chain, which itself has not issued a token. As a popular project on Base, Virtuals undoubtedly inherited a lot of people's investment enthusiasm for the Base chain itself. Secondly, the design of its product also has many characteristics and advantages.
First of all, the project's pursuit of hot topics undoubtedly hit the trend of combining AI Agents with cryptocurrency tokens. The AI Meme represented by Goat has sparked a wave of interest in AI Agent tokens. A week after Goat's launch, Virtuals introduced its AI Agent token Luna. Earlier in 2023, the Virtuals team, originally focused on gaming guilds, decided to transform into an AI Agent platform after witnessing the immense potential showcased by ChatGPT leading the global AI technology craze. The keen grasp of industry trends and hot topics, along with strong execution capabilities, are important reasons for the project's success.
The Virtuals project addresses the complexity of applying AI Agents to consumer applications, providing a plug-and-play solution similar to Shopify, allowing gaming and consumer applications to easily deploy AI agents.
In terms of economic model design, the project adopts a co-ownership model, transforming AI Agent entities into community assets. Users can invest and co-own AI-based virtual assets, such as AI companions and virtual influencers, and participate in the governance and revenue distribution of the agents. This model encourages shared responsibility and community ownership, distributing benefits to all participants and increasing user engagement and loyalty.
What other projects within the Virtuals ecosystem are worth noting?
In the past 24 hours, the top eight market cap increases of Virtuals ecosystem tokens (data source: Coingecko)
GAME
Developed by the Virtuals team, the core positioning is to provide developers with an efficient and open framework, making the development and launch of AI Agents as simple as building a website with WordPress. Through Virtuals Protocol, developers can not only quickly build and deploy agents but also achieve tokenization through IAO (Initial Agent Offering).
Specifically, we can understand Game as the 'brain' of the vast majority of AI Agents within the Virtuals ecosystem, providing power to 95% of the AI Agents on the platform. It is the key factor that allows these agents to rise quickly and demonstrate strong functionalities. It can be said to be the core engine driving the continuous development and evolution of the entire Virtuals ecosystem, propelling the growth of various AI Agents and related projects within the ecosystem.
Just as Shopify provides infrastructure support for e-commerce, GAME provides the foundational framework for creating and participating in agent businesses within the Virtuals ecosystem. It addresses the infrastructure issues, allowing developers to focus on creating more differentiated agent functionalities.
Currently, the project's token market cap is 235 million dollars, with a nearly 20% increase in the last 24 hours.
Luna
The AI virtual beings launched by Virtuals Protocol integrate AI models and multimodal technology, enabling real-time interaction on live streaming platforms 24/7, acting like characters in an IP, providing users with a richer and more immersive experience. They can automatically manage social media accounts; for example, if employed by Story Protocol, they can take over Story Protocol's official Twitter account and post tweets as required. Additionally, Luna can autonomously execute on-chain transactions, organize activities like graffiti challenges, and pay prizes from its wallet. It can also delegate content creation to other AI Agents, such as commissioning the art AI Agent STIX to create images displaying AI KOLs at a rate of 1 dollar per image. All of these demonstrate its capabilities in content creation and collaboration with other AIs.
Currently, the project's token market cap is 133 million dollars, with a nearly 41% increase in the last 24 hours.
VaderAI
Its goal is to enhance the autonomy of AI Agents, enabling them to perform various complex tasks. From autonomous hedge funds to monetizing KOL accounts, VaderAI proposes six application directions, covering areas such as on-chain arbitrage, gaming NPC guilds, and customer support.
Taking investment as an example, VaderAI plans to open multiple Investment DAOs, each managed by an AI Agent responsible for investment management. These AI Agents use their data analysis, market insights, and decision-making capabilities to provide professional support and guidance for the investment activities of the Investment DAOs, and they will share 20% of the investment profits with VaderAI. Currently, the Investment DAO-related modules of VaderAI have not been fully implemented, and actual investment purchases have not yet taken place.
Currently, the project's token market cap is 62 million dollars, with a nearly 30% increase in the last 24 hours.
Sekoia
The full name is Strategic Ecosystem Knowledge and Opportunity Investment Agent, which means Strategic Ecosystem Knowledge and Opportunity Investment Agent. It aims to innovate traditional venture capital models through AI technology, becoming the ecosystem fund of Virtuals, promoting the growth of the AI ecosystem, and realizing the concept of 'AI investing in AI.' It is based on a large number of small investments and conducts behavioral data analysis through an efficient evaluation engine, allowing projects to automatically execute investment transactions through multi-dimensional information collection and smart contracts.
Currently, the project's token market cap is 33 million dollars, with a nearly 5.7% increase in the last 24 hours.
Aixbt
AI Agent aims to analyze hot topics and trends in the cryptocurrency market through artificial intelligence, providing users with accurate market trend predictions and sentiment analysis to help them quickly seize market changes and potential investment opportunities.
It utilizes AI Agent technology to integrate real-time data from over 400 KOLs and social media, conducting in-depth mining and analysis of this data through its proprietary engine, thus extracting valuable market information and trend predictions for investors.
Currently, the project's token market cap is 330 million dollars, with a nearly 8% increase in the last 24 hours.