Venice AI, a decentralized artificial intelligence protocol founded by Erik Voorhees, has surpassed a valuation of $600 million amid a strong market rally. The VVV token increased by 35% in the past 24 hours, bringing the fully diluted valuation (FDV) to approximately $640 million. The price surge was driven after Venice was selected as the provider of a proposed private model for OpenClaw, an open-source autonomous AI agent platform recently acquired by OpenAI for $1 billion.
In the past week, VVV has more than doubled and surged nearly 300% this month, outperforming the overall weakening altcoin market. Venice operates a two-token model after launching DIEM in September, allowing stakers of DIEM free access to multiple AI models. DIEM also hit a high of $895, up over 900% from its November low.
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