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Project Overview
Venice is a privacy-focused artificial intelligence platform offers services such as generative conversation and image creation, but it does not hold user data. The platform uses blockchain for permissionless payment, as well as web3 infrastructure for local browser storage and end-to-end encryption.
Venice AI Completes $65 Million Funding Round at $1 Billion Valuation
Venice AI founder Erik Voorhees announced on Wednesday that the company has completed its first external funding round, raising $65 million at a $1 billion valuation. The round was led by Dragonfly, with participation from North Island Ventures, Coinbase Ventures, Archetype, Liquid2 Ventures, and Morgan Creek. Launched in May 2024, Venice AI is a privacy-focused AI chatbot alternative platform designed to prevent storing user conversations on centralized company servers. Voorhees stated that Venice AI has surpassed 3 million users and has already achieved profitability in the first quarter. Voorhees said the new capital will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API. The annual issuance of Venice AI's native token, VVV, was reduced to 3 million tokens on Wednesday, used to reward token holders who support the network by staking VVV.
Venice AI Founder Discloses Series A Financing Details: Investors Received 8.98% Equity and 1.5 Million VVV Vesting Grants
Venice AI founder Erik Voorhees stated on the X platform that to complete the $65 million Series A financing round, Venice chose to sell equity rather than directly sell VVV. Despite VVV's price increasing over 700% this year, Venice has not sold any tokens and currently holds over 30 million VVV, representing more than 37.5% of the total supply of 80 million tokens.Investors in this round received 8.98% equity, a vesting grant of 1.5 million VVV, and warrants to purchase 5 million VVV over the next 8 years. If all warrants are exercised, Venice's total financing will increase to $131.5 million. The relevant tokens are locked for 1 year and then unlock linearly over 3 years, with an expected average daily new circulation of less than 6,000 tokens. Venice stated that it will continue to maintain its tokenomics model of repurchasing and burning VVV with revenue.
Venice AI completes $65 million Series A funding round, led by Dragonfly
Venice AI has announced the completion of a $65 million Series A funding round, led by Dragonfly, with participation from Coinbase Ventures, North Island Ventures, and others, at a valuation of $1 billion. The project primarily offers a platform that grants access to over 200 AI models while ensuring privacy.
ShapeShift founder Erik Voorhees staked over 340,000 VVV, valued at approximately $3.98 million.
According to on-chain analyst Onchain Lens (@OnchainLens), ShapeShift founder Erik Voorhees staked 341,690 VVV to Venice (@AskVenice), worth approximately $3.98 million. This staking operation occurred approximately 9 hours after he claimed 3,630 VVV (approximately $42,300) in staking rewards.
Venice AI Founder Discloses Series A Financing Details: Investors Received 8.98% Equity and 1.5 Million VVV Vesting Grants
Venice AI founder Erik Voorhees stated on the X platform that to complete the $65 million Series A financing round, Venice chose to sell equity rather than directly sell VVV. Despite VVV's price increasing over 700% this year, Venice has not sold any tokens and currently holds over 30 million VVV, representing more than 37.5% of the total supply of 80 million tokens.Investors in this round received 8.98% equity, a vesting grant of 1.5 million VVV, and warrants to purchase 5 million VVV over the next 8 years. If all warrants are exercised, Venice's total financing will increase to $131.5 million. The relevant tokens are locked for 1 year and then unlock linearly over 3 years, with an expected average daily new circulation of less than 6,000 tokens. Venice stated that it will continue to maintain its tokenomics model of repurchasing and burning VVV with revenue.
Bankless co-founder discloses entry costs for some portfolio tokens: NEAR ~$1.40, HYPE ~$45
Odaily Odaily News: Bankless co-founder David Hoffman responded to investors by disclosing his entry costs for four major tokens: NEAR, HYPE, ZEC, and LIT. Among them, the entry price for NEAR was approximately $1.40, HYPE around $45, ZEC about $560, and LIT approximately $1.35. According to previous reports, after liquidating his ETH holdings, the founder split the capital allocation, deploying 50% of the principal into VVV, NEAR, ZEC, and HYPE. The remaining 50% was kept for periodic dollar-cost averaging, with the subsequent funds fully used to purchase LIT.
Bankless co-founder sells all ETH to buy VVV, NEAR, ZEC, HYPE, and LIT
Bankless co-founder David Hoffman posted on platform X, stating that after selling his ETH, he immediately allocated approximately 50% of the capital to VVV, NEAR, ZEC, and HYPE, and used the remaining funds for dollar-cost averaging into projects that have not yet seen significant price increases (NEAR was priced at around $1.40 at the time). He added that the remaining 50% of the capital has completed its position building in LIT.
HYPE short positions suffer losses exceeding $36 million, whale Loracle closes short positions in BTC, LIT, TON, and VVV
According to Onchain Lens monitoring, whale Loracle has closed its short positions in BTC, LIT, TON, and VVV. The HYPE short position is still being closed, with a remaining 1.518 million HYPE short position, approximately $105 million, resulting in losses exceeding $36 million. Loracle has newly opened a 10x long position in ZEC, as well as 5x long positions in ASTER and TON, and its holdings are continuing to increase.
Whale Loracle has opened a new 3x short position on VVV, currently the only profitable position.
According to on-chain analyst Onchain Lens (@OnchainLens), Loracle (@loraclexyz) has opened a new 3x short position on VVV, which is currently its only profitable position. It also holds long positions in HYPE, BTC, LIT, XYZ100, and TSLA, as well as a smaller short position in TON, with a total value of approximately $141 million and unrealized losses exceeding $30 million.
AMD Second-Generation AI Server Helios Enters Production, Equipped with MI455X Accelerator
AMD CEO Lisa Su stated that the second-generation AI server Helios has entered full production, with shipments expected by the end of the third quarter this year amid strong customer demand. The server features the new AI accelerator Instinct MI455X and the new-generation Venice CPU, both manufactured by TSMC. OpenAI plans to deploy Helios later this year. AMD is leveraging this to catch up with NVIDIA in the data center chip market.
Venice Upgrade Tokenomics: API Revenue to Trigger VVV Buyback and Burn, DIEM Supply Raised to 40,000
Odaily AI infrastructure project Venice has announced an update to its VVV and DIEM tokenomics model, introducing a new programmatic buyback and burn mechanism and gradually increasing the DIEM supply target from 38,000 to 40,000 tokens.Venice stated that VVV is its core ecosystem asset, an ERC-20 token issued on the Base chain. After users purchase and stake VVV, they can earn rewards, unlock Venice Pro benefits, and use it to mint DIEM. Previously, a portion of platform revenue was used for market buybacks and the burning of VVV.This update first expands the sources for VVV burning. Previously, Venice had already implemented an automated VVV buyback and burn mechanism through Pro, Pro+, and Max subscription revenues. Now, this mechanism will cover API credit purchases: for every $100 worth of Venice API credits purchased by a user, $5 will be used to buy and burn VVV. This process will be executed automatically. As API usage grows, more VVV will be removed from circulation.Venice stated that the new API burn mechanism will be tracked separately on the official burn page, displayed distinctly from the burn records generated by subscription revenue.Concurrently, Venice will adjust the DIEM supply target. DIEM is the second-generation token in the Venice ecosystem, used to provide access to AI model credits. Each DIEM corresponds to $1 worth of daily Venice AI credits.DIEM can only be minted by staking and locking VVV. Users can use or sell these AI credits. Previously, the DIEM supply target was long fixed at 38,000 tokens.Starting August 3rd, this target will be gradually raised to 40,000 tokens, adding up to 2,000 new DIEM minting capacity to the market. As each newly minted DIEM requires locking more staked VVV, this will correspondingly increase the daily supply of AI API credits.Venice indicated that as the DIEM supply approaches the target, the minting cost (Mint Rate) will gradually increase. This increase in the supply target will provide users with greater minting capacity while maintaining the ecosystem's supply-demand mechanism.This adjustment shows that Venice is strengthening its token economic flywheel through a path of "AI service demand growth → increased API revenue → continuous VVV burning → ecosystem value capture."
OKX to List VVV/USDT Perpetual Swap
Odaily, according to an official announcement, OKX will officially list the VVVUSDT perpetual swap on its web, App, and API at 14:00 (UTC+8) on July 3, 2026.It is reported that Venice is an AI platform focused on privacy, offering services such as generative conversations and image creation.
Venice AI Completes $65 Million Funding Round at $1 Billion Valuation
Venice AI founder Erik Voorhees announced on Wednesday that the company has completed its first external funding round, raising $65 million at a $1 billion valuation. The round was led by Dragonfly, with participation from North Island Ventures, Coinbase Ventures, Archetype, Liquid2 Ventures, and Morgan Creek. Launched in May 2024, Venice AI is a privacy-focused AI chatbot alternative platform designed to prevent storing user conversations on centralized company servers. Voorhees stated that Venice AI has surpassed 3 million users and has already achieved profitability in the first quarter. Voorhees said the new capital will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API. The annual issuance of Venice AI's native token, VVV, was reduced to 3 million tokens on Wednesday, used to reward token holders who support the network by staking VVV.
South Korean Trader: Recent Token Listings on Upbit Suspected of “Rat Trading”
South Korean trader Definalist stated on social media that Upbit’s recent listings of WIF and VVV may involve front-running behavior. He claimed that multiple addresses funded by Upbit’s hot wallet purchased WIF prior to its listing on Upbit and rapidly sold their holdings shortly after the listing. A similar pattern was observed with VVV. Additionally, he revealed that Upbit has recently been intensively testing the STABLE token, and suspected front-running wallets also engaged in purchases of this token.
Upbit to List VVV/KRW, VVV/BTC, and VVV/USDT Trading Pairs
According to the official announcement, Upbit will list VVV trading pairs against KRW, BTC, and USDT.
Related news
AMD claims Venice processor is 20% faster than NVIDIA Vera, with 2.2 times higher throughput
AMD announced at the Advancing AI 2026 event that its Zen 6 architecture "Venice" CPU is approximately 20% faster than NVIDIA Vera processors in SPEC tests, exceeding the previous conservative estimate of 10%. AMD stated that the tests were run based on NVIDIA whitepaper configurations, with Venice throughput 2.2 times higher and single-core performance 1.2 times faster, and it is not yet fully optimized. This is the first time AMD has directly benchmarked against NVIDIA in the AI-specific processor field and published performance data.
AMD Second-Generation AI Server Helios Enters Production, Equipped with MI455X Accelerator
AMD CEO Lisa Su stated that the second-generation AI server Helios has entered full production, with shipments expected by the end of the third quarter this year amid strong customer demand. The server features the new AI accelerator Instinct MI455X and the new-generation Venice CPU, both manufactured by TSMC. OpenAI plans to deploy Helios later this year. AMD is leveraging this to catch up with NVIDIA in the data center chip market.
Venice Upgrade Tokenomics: API Revenue to Trigger VVV Buyback and Burn, DIEM Supply Raised to 40,000
Odaily AI infrastructure project Venice has announced an update to its VVV and DIEM tokenomics model, introducing a new programmatic buyback and burn mechanism and gradually increasing the DIEM supply target from 38,000 to 40,000 tokens.Venice stated that VVV is its core ecosystem asset, an ERC-20 token issued on the Base chain. After users purchase and stake VVV, they can earn rewards, unlock Venice Pro benefits, and use it to mint DIEM. Previously, a portion of platform revenue was used for market buybacks and the burning of VVV.This update first expands the sources for VVV burning. Previously, Venice had already implemented an automated VVV buyback and burn mechanism through Pro, Pro+, and Max subscription revenues. Now, this mechanism will cover API credit purchases: for every $100 worth of Venice API credits purchased by a user, $5 will be used to buy and burn VVV. This process will be executed automatically. As API usage grows, more VVV will be removed from circulation.Venice stated that the new API burn mechanism will be tracked separately on the official burn page, displayed distinctly from the burn records generated by subscription revenue.Concurrently, Venice will adjust the DIEM supply target. DIEM is the second-generation token in the Venice ecosystem, used to provide access to AI model credits. Each DIEM corresponds to $1 worth of daily Venice AI credits.DIEM can only be minted by staking and locking VVV. Users can use or sell these AI credits. Previously, the DIEM supply target was long fixed at 38,000 tokens.Starting August 3rd, this target will be gradually raised to 40,000 tokens, adding up to 2,000 new DIEM minting capacity to the market. As each newly minted DIEM requires locking more staked VVV, this will correspondingly increase the daily supply of AI API credits.Venice indicated that as the DIEM supply approaches the target, the minting cost (Mint Rate) will gradually increase. This increase in the supply target will provide users with greater minting capacity while maintaining the ecosystem's supply-demand mechanism.This adjustment shows that Venice is strengthening its token economic flywheel through a path of "AI service demand growth → increased API revenue → continuous VVV burning → ecosystem value capture."
ShapeShift founder Erik Voorhees staked over 340,000 VVV, valued at approximately $3.98 million.
According to on-chain analyst Onchain Lens (@OnchainLens), ShapeShift founder Erik Voorhees staked 341,690 VVV to Venice (@AskVenice), worth approximately $3.98 million. This staking operation occurred approximately 9 hours after he claimed 3,630 VVV (approximately $42,300) in staking rewards.
Morgan Stanley: 2027 CoWoS Demand to Reach 2.69 Million Units, CPU Officially Joins Advanced Packaging Camp
According to TechFlow Research, Morgan Stanley's July 8 AI Supply Chain Report estimates that global CoWoS demand will reach 2.694 million units in 2027, a 93% increase from 2026. NVIDIA remains the largest customer (1.222 million units, accounting for 45%), while AMD demand will surge 308% (130,000 units → 530,000 units), with MI455 (1 million units) and MI450 (500,000 units) as the main drivers in 2027. The AMD Venice CPU will adopt CoWoS packaging for the first time, with 2027 shipments estimated at 6.75 million units; CoW production will be undertaken by ASE/SPIL, Amkor, and Powertech, marking the large-scale expansion of CoWoS from AI accelerators to server CPUs. Google TPU Sunfish full-year shipments are 960,000 units, concentrated in 4Q26. NVIDIA Blackwell inventory was clarified as a supply chain buffer to be fully absorbed within 2026, while Rubin 2027 shipments are near 7 million units.
OKX to List VVV/USDT Perpetual Swap
Odaily, according to an official announcement, OKX will officially list the VVVUSDT perpetual swap on its web, App, and API at 14:00 (UTC+8) on July 3, 2026.It is reported that Venice is an AI platform focused on privacy, offering services such as generative conversations and image creation.