Venice AI Token Hits $1.65 Billion, Unlocks Private Access to DeepSeek R-1

Built on Base, Ethereum’s ETH $2,363.19 Layer-2 network, the token quickly gained attention.

In a post on X, Venice AI confirmed that those who buy and stake VVV gain free access to its private application programming interface (API). This allows users to generate text, images, and code with AI tools, including the newly introduced DeepSeek R-1 model.

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DeepSeek R-1, developed by a Chinese AI company, is considered comparable to ChatGPT but uses less processing power and is open-source.

DeepSeek has raised privacy concerns, as its model is believed to collect user data and send it to China. However, Erik Voorhees, the founder of Venice AI, assured users that data generated through Venice’s platform is protected and will not be shared elsewhere.

Venice has also opened its API to developers, third-party apps, and AI agents, which offer broader integration options.

The VVV token has a market value of $306.4 million at the time of writing, with 25 million tokens in circulation out of the 100 million total supply. Additionally, over 20,000 token holders are now part of the network.

Meanwhile, the late John McAfee’s X account recently promoted a new AI token called AIntivirus. How did the crypto community react? Read the full story.