What if you could earn from the work done by AI agents? Better if you have a decentralized platform where you can easily build, deploy, and manage AI agents across digital platforms.
Virtuals Protocol is a decentralized platform that enables you to co-own AI agents and earn revenue from their activities on digital platforms. Designed on the Base blockchain network, Virtuals Protocol mainly focuses on the gaming and entertainment sectors. It allows you to build and deploy AI agents across these platforms and earn VIRTUAL tokens from their work.
This blog explores the concept behind the Virtuals Protocol project, its working mechanism, the co-ownership model, and its token-driven ecosystem. We will also examine its native token, VIRTUAL, where to buy it, and whether it’s a profitable investment.
What Is The Virtuals Protcol?
Virtuals Protocol is a decentralized platform on the Base blockchain network powered by artificial intelligence and blockchain technology. The platform enables you to co-own AI agents and earn in the form of native tokens (VIRTUAL) from the revenue they generate through their interactions on digital platforms.
In simple words, the Virtuals Protocol platform gives you a secure and transparent platform to build AI agents and deploy them across multiple applications. These AI agents are autonomous, multimodal, and laced with high reasoning capabilities. This enables the agents to independently process their environment and seamlessly interact with humans and their space.
The revenue generated from these interactions is distributed among developers the respective AI agent co-owners and the token holders.
For example, you can build an AI agent to create beauty-related content on Instagram. The agent will promote beauty products, give reviews, offer beauty tips, collaborate with brands, and interact with followers on Instagram. The revenue the agent produces from its activities will be then distributed in the Virtuals ecosystem using a buyback burn mechanism.
To sum up, Virtuals Protocol is the convergence of two technologies to facilitate:
- Development and deployment of AI agents across digital platforms/applications
- Management of AI agents and their ownership
- Tokenization and distribution of revenue generated
By enabling tokenization and decentralization of AI agents, the platform aims to democratize the use of artificial intelligence. Eventually, this gives hope to the possibility that AI will not be in the hold few but accessible to everyone.
Key Features Of Virtual Protocol
Several key features of Virtuals Protocol make it a successful platform. Some of the notable features of the platform are as follows:
Multimodal AI Agents
Virtuals Protocol supports the development of autonomous and multimodal AI agents, meaning that these agents can independently process data, plan, take actions, and learn from feedback.
It means that AI agents can explore the digital platform it is integrated into, explore its features, interact with characters (human and NPC), and transact using crypto wallets. Their multimodal capabilities enable them to communicate through text, speech, and even animations.
Also, these agents have advanced memory and reasoning efficiency that allows them to interact with users across different applications and offer unmatched personalization benefits.
Immutable Contribution Vaults (ICV)
Immutable Contribution Vaults (ICV) play a crucial role in keeping the Virtuals Protocol a transparent and fair ecosystem. It acts as a ledger that acts, stores, and maintains the contributions of multiple stakeholders for AI agents. It is more beneficial when you consider maintaining a transparent ledger where several stakeholders are contributing to a single AI agent.
Powered by blockchain, ICV tracks and stores every contribution and changes over time so that every stakeholder gets their due credit. In the ICV system, each AI agent is represented as an NFT that stores the core features of the agent. Also, each contribution from the stakeholders is saved as service NFTs. This makes it easy to track and reward.
Initial Agent Offerings (IAO)
The Virtuals Protocol introduces the concept of an Initial Agent Offering (IAO), a model inspired by Initial Coin Offerings (ICOs). An IAO allows AI agents to be tokenized and offered as fractional ownership assets, making it possible for a broader audience, including non-technical users, to participate in the expanding AI economy.
Users can lock VIRTUAL tokens to mint a new agent token. The protocol then establishes a bonding curve for the new token, which dynamically sets its price based on the circulating supply.
Once the new token achieves a $420,000 market cap, the protocol creates a liquidity pool, locked for ten years to ensure long-term stability.
IAOs adhere to fair-launch principles, ensuring no pre-mining or insider allocations. Each agent token is capped at a fixed total supply of 1 billion, with a 1% trading fee applied to cover operational expenses.
Co-ownership of AI Agents
Co-ownership of AI agents and reward distribution are also made possible through the buyback burn mechanism. When a new AI agent is created, 1 billion agent-specific tokens are minted and added to a liquidity pool, establishing an ownership market. These tokens serve as governance tools, enabling holders to influence decisions regarding the agent’s development and future direction.
Revenue is generated as users interact with AI agents through various services, such as virtual concerts or livestreams. App developers receive this revenue and allocate a portion to cover the operational costs of the AI. Another portion is directed to the agent’s Onchain Treasury to fund its growth and development.
Periodic buybacks of the agent’s tokens are conducted using treasury funds, followed by burning the tokens to reduce supply and increase their value. These tokens are paired with VIRTUAL tokens in the liquidity pool, directly linking the agent’s success to the value of VIRTUAL tokens. As the agent generates more revenue and tokens are burned, the appreciation in value benefits both the agent-specific tokens and the VIRTUAL tokens, ensuring mutual growth and rewarding all ecosystem stakeholders.
Virtuals Protocol Ecosystem
The Virtuals Protocol ecosystem includes a wide array of AI applications that boost user engagement in the virtual worlds.
Some of the prominent AI applications of the ecosystem preferred by developers and users alike are:
AiDOL
AiDOL enables you to build AI agents that can live stream on social media platforms like TikTok and Instagram. The platform uses AI technology and ML techniques to build AI agents that can carry out personalized interactions with users and followers. In other words, you get social media influencers who can interact with the community and do live streams to them engaged and hooked.
Roblox Westworld
Roblox Westworld is an interactive simulation within the popular Web 2.0 game, Roblox, where you step into a Wild West-inspired world filled with autonomous agents powered by the GAME framework. Your mission is to identify and capture a hidden villain, “The Bandit.”
You’ll encounter ten unique AI agents, each with their distinct personalities, goals, and the ability to strategize and interact autonomously. This dynamic setup creates diverse storylines and outcomes, ensuring that every playthrough feels fresh and full of surprises, with minimal repetition.
AI Waifu
AI Waifu is a web platform that hosts 300+ AI characters. All these characters are created by the community and have the potential to engage in highly personalized scenario-based or role-playing conversations.
The Heist
The Heist will be launched on Telegram as an interactive game where the VIRTUAL AI agent will handle the transactions. They will be responsible for managing the economy of the game through on-chain transactions.
Sanctum
Sanctum is a 3D role-playing game on Telegram that engages users in an immersive storytelling experience. You can create your own AI agent and deploy it on the platform to engage with users and explore narratives.
What Is the Virtuals Protocol Token (VIRTUAL)?
VIRTUAL is the native token of the Virtuals Protocol ecosystem. It is a utility token that enables token holders to build and deploy AI agents, make on-chain payments in the ecosystem, and get rewarded for their agents.
VIRTUAL has a total supply of 1 billion tokens where 5% is reserved for liquidity, 35% for ecosystem treasury, and the rest 60% for public distribution.
The token is currently trading at $2.45. Also, the token has a market capitalization of $2,450,022,068 with a 24-hour trading volume of $203,174,907 across all platforms.
Where To Buy VIRTUAL?
You can easily buy VIRTUAL on centralized crypto exchanges like Bitget, Gate.io, and Bybit. Plus, you can seamlessly store and transact VIRTUAL tokens from your Metamask wallet.
Conclusion
Virtuals Protocol is a groundbreaking platform that stands at the convergence of the two biggest technologies – AI and blockchain. Its ability to create AI agents, facilitate decentralized tokenization of AI agents, and immutable contribution vaults makes it the fastest-growing AI-powered blockchain project in the market.
