A deep dive into Venice AI's token launch & why it raises concerns

Let's circle back to the news mentioned in my previous post about the language model wrapper that launched its own token.

Here's what's happening.

Venice.ai is a platform providing access to several language models including Llama, Dolphin, Qwen, and DeepSeek. The project recently:

• Launched its token VVV on the Base platform
• Got it listed on Coinbase within hours
• Saw its token price skyrocket immediately

This coincided with media reports claiming that DeepSeek (available through a Venice subscription) outperforms GPT-o1 (which isn't on Venice). Shortly after, similar claims appeared about Qwen.

However, several red flags emerge:

• Why would anyone pay Venice for access to DeepSeek and Qwen when these models are freely available on deepseek.com and qwenlm.ai?
• Venice claims its competitive advantage is "uncensored," which could help them find their audience and generate profit. But what's in it for token holders? Has anyone promised them a share of these profits? No.
• If Venice accepts crypto for subscription payments, why don't they accept their own token, preferring BTC, ETH, or POL instead?

There was no solid basis for the price surge. When the slightest negative news emerged, the price quickly dropped below its initial trading level. I find it hard to see what could attract new buyers now.

It seems like every new crypto token hype is even more pointless than the last.

If you're looking to swap your VVV for more reliable cryptocurrencies, you can do so quickly and without registration at rabbit.io.