Virtuals Protocol Tokens on Base Skyrocket as AI Agent Demand Grows
The post Virtuals Protocol Tokens on Base Skyrocket as AI Agent Demand Grows appeared on BitcoinEthereumNews.com.
The value of the Virtuals Protocol ecosystem surged by 28% over the last day, bringing the total market capitalization of the Base blockchain tokens to $1.9 billion, according to CoinGecko. The native token of the Virtuals Protocol, VIRTUAL, is currently trading at $1.38—up nearly 29% in the last 24 hours and 161% over the last week. It’s set an all-time high in the process, bounding into the top 100 cryptocurrencies by market cap. What’s driving the sudden interest in Virtuals? Demand for AI agents, or AI-powered autonomous programs designed to perform tasks on their own and mimic how humans would handle a specific situation. These agents can understand their environment, make decisions, and take action to achieve their goals. The rise in interest in AI agents is the latest in the blockchain industry’s pivot to artificial intelligence technology and tokenization. And amid recent demand for crypto tokens tied to AI agents and ecosystems, Virtuals is the latest big winner. Launched in January on Base, Coinbase’s Ethereum layer-2 scaling network, Virtuals Protocol is a launchpad and marketplace for gaming and entertainment AI agents that was co-founded in 2021 by Jansen Teng, Weekee Tiew, and Wei Xiong as PathDAO, before relaunching as Virtuals Protocol. Virtuals Protocol launched its VIRTUAL token after a 1-for-1 swap of its PATH token in December, and says its goal is to enable as many people as possible to participate in the ownership of AI agents. It allows developers to build AI agents with six core functionalities: posting to X (formerly known as Twitter), Telegram chatting, livestreaming, meme generation, “Sentient AI,” and music creation. These agents are compatible with platforms like Roblox, utilizing Virtuals Protocol’s Generative Autonomous Multimodal Entities (GAME) engine. In terms of their use with cryptocurrency and digital assets, according to Virtuals Protocol, AI agents are…
Filed under: News - @ November 30, 2024 8:14 pm