威尼斯VVV代币创下34美元新高，隐私AI质押模式吸引新投资

Venice (VVV): Soaring prices, emission cuts and DIEM supply expansion

VVV, the cryptocurrency associated with Venice, a privacy-oriented AI platform launched by ShapeShift founder Erik Voorhees, hit a record high of $34.51 on September 21, before falling back to about $31. So far, VVV has risen by about 3,000% from the low of US$0.92 hit in December 2025 (Note: This is a price comparison of high and low points, not a total annual performance comparison), and its market value is approximately US$1.5 billion.

Decrypt reported that VVV is the third largest AI application cryptocurrency, behind Near and Bittensor's TAO. However, according to CoinGecko, rankings may vary depending on methodology, with Internet Computer ranking higher than VVV. The core question is whether the demand for private AI can continue to support the value of the token after the initial excitement has passed.

Why VVV is an access key and not a company equity

Holding VVV does not give users ownership claims to Venice AI. It is an ERC-20 token issued on the Base chain, and its utility is mainly related to computing resource access. According to Venice's description, users can earn revenue by pledging VVV and unlock Venice Pro services.

By pledging 100 VVVs, users can gain Pro-level access rights and enjoy unlimited access to text prompt words and image and video-related models.

DIEM mechanism similar to subscription model

VVV 质押者还可以锁定其质押的代币以铸造 DIEM。据 Venice 介绍，每 1 个 DIEM 相当于每日刷新一次的 1 美元 API 信用额度。

今年 7 月，Venice 分四步将目标 DIEM 供应量从 38,000 个增加至 40,000 个：8 月 3 日增至 38,500 个，8 月 17 日增至 39,000 个，8 月 31 日增至 39,500 个，最终于 9 月 14 日达到 40,000 个。

在削减排放的同时销毁流通量

相同的代币经济更新还将 VVV 的预期年排放量从 300 万枚降至 200 万枚，分两阶段进行：9 月 1 日从 250 万枚降至 200 万枚（此处原文逻辑似有笔误，通常指逐步降低，依原文表述为两次安装/阶段调整），10 月 1 日起进一步调整。此外，Venice 还推出了 API 信用额度销毁机制，将每花费 100 美元信用额度中的 5 美元用于在二级市场购买 VVV 代币并随后销毁，加上已有的由订阅收入资助的销毁机制，共同减少流通量。

6500 万美元的股权融资，以及为何这与代币无关

今年 7 月，Dragonfly 领投了 Venice 的 A 轮融资，融资金额为 6500 万美元，公司股权估值达 10 亿美元。

The Block 报道指出，投资者获得了 8.98% 的股权份额、150 万枚 VVV 的归属授予，以及在未来八年内购买另外 500 万枚 VVV 的权利凭证（Warrants）。

Voorhees more directly elaborated on Venice's token stance: "Venice remains the largest holder of VVV, holding more than 30 million of the current 80 million supply. To date, the company has not sold any tokens." The wording came from Voorhees 'financing announcement, which was also reported by The Block. He also told the media: "We don't want to sell tokens." Venice reported annualized operating income of more than $70 million and said the company has achieved a profit.

VVV's position in AI and privacy-coin transactions

The Coinbase Institutional team grouped VVV with TAO and VIRTUAL, believing that they are different ways to gain value from AI cryptocurrencies, and defined VVV as "tokenized inference."

Galaxy also made a similar point, using Venice as an example to illustrate how to transform future inference access rights into ownerable and transferable assets, and mentioned that by 2026, inference has surpassed training in global GPU requirements.

VVV also benefits from a wider range of privacy coin transactions. Citing data from Glassnode, 24/7 Wall St. reported that in the past 30 days, privacy coins have led ten crypto sectors to achieve an overall increase of 90%, although Zcash accounted for most of the increase.

Cryptopolitan previously reported that VVV experienced a 100% single-week surge in March after Venice became a recommended provider for OpenClaw.

Reasons for caution

An article titled "AI-based cryptocurrency tokens: The illusion of decentralized AI?" A preprint of the research from, pointed out that many AI token projects still rely heavily on off-chain computing and may be similar to centralized AI services with a token layer added. According to The Block, Venice itself provides users with access to more than 200 models, including closed-source systems from OpenAI and Anthropic routed anonymously through its APIs.

This leaves several risk points: concentrated treasury positions, supply related to future warrants, reliance on third-party models, and the need for funds to build your own computing infrastructure. The final argument for destruction versus pledge depends on continued product use, not just the increase in token prices.