AI Token Outpaces Bitcoin After Project Crosses $100M Annualized Revenue

Altcoins are gaining popularity as analyst Michaël van de Poppe thinks a sustained Bitcoin rebound might revive interest in the sector.

• The jump in VVV token’s price came after co-founder Erik Voorhees announced on Monday that Venice’s privacy-focused AI platform VVV had crossed $100 million in annualized revenue
• VVV’s market cap now stands at around $688 million, around 7 times its annualized revenue run rate, drawing interest from crypto investors looking for AI exposure.
• Venice launched a new AI-powered Doodle feature that enables users to turn freehand sketches into generated images, joining the revenue milestone with a product catalyst.

Venice’s native token (VVV) jumped in morning trade on Tuesday, outpacing Bitcoin (BTC), after a revenue milestone from the privacy-centric artificial intelligence (AI) platform sparked new buying interest.

The rise in VVV’s price came after co-founder Erik Voorhees on Monday stated on X that Venice had crossed $100 million in annualized revenue. 

VVV is the utility token of Venice, a privacy-centric AI platform built on the Coinbase (COIN) Base blockchain that allows users to run AI models without their data being stored or shared. VVV's market cap stands at approximately $688 million, placing it at roughly seven times its annualized revenue run-rate.