Venice.aiOur team recently wrapped up our offsite, focusing on where Venice is headed over the next weeks and months, finalizing some priorities and deployment plans.
We have big updates coming out soon, but we wanted to give our core community a sneak peek:
🌅 Venice V2
Since launching Venice, 1.3M+ users have been enjoying the benefits of private, uncensored AI, and over 1M Venice API calls from developers are happening daily.
We’ve been quietly building the next iteration of Venice, V2, which expands the vision significantly, empowering creators and vertically integrating VVV with the platform’s growth. V2 is the true open platform for unrestricted intelligence.
We’ll soon be bringing in a subset of our beta tester community to see what V2 is all about and gather early feedback.
Multiple features that constitute V2 are under development in parallel, and the first of these will roll out to our beta testers this week: video generation.
🎥 Video generation is coming to Venice
As the most requested feature for Venice, we’ve been looking at different ways to best integrate video generation capabilities. We’re ready to show you these new creative tools: comprising text-to-video and image-to-video functionality.
A new credit system has been built to enable scalable economics of video generation. More information on this soon.
We prioritized state-of-the-art open-source video generation models, but we’re also enabling access to models such as the recently launched Sora 2, Google’s Veo3 and Kling Turbo, as they provide the best quality on the market.
Note that when using these models, the companies can see your generations. Your requests will be anonymized, but not fully private – the generations are submitted by Venice and not tied to your personal information. The privacy parameters are disclosed clearly in the UI.
After our beta testers have poured through video and we’ve integrated their feedback, we’ll roll out video generation to the wider Venice userbase (this will happen before the end of the month).
🔥 Venice is Burning: towards a deflationary VVV
As Venice is gearing up for an exciting Q4, we also want to update the community on next steps with VVV tokenomics amid the Venice ecosystem.
To date, the utility of VVV has primarily been oriented around API access for the Venice platform, and this was then abstracted into the ability to mint DIEM, which addressed two common user requests (avoiding fluctuations in API access, and the ability to directly trade this access).
Our next tokenomic focus is to make VVV more vertically integrated with the entire Venice business, so that there is less separation between the VVV asset and the growth of Venice as a company. DIEM abstracting the API access out of VVV and making it stable was a prerequisite.
The next steps:
We’re introducing a buy and burn mechanic where a portion of Venice’s revenue will buy and burn the VVV token on an ongoing basis.
This continual burn integrates Venice's growing retail business more directly with the VVV asset, such that success of the retail business can be shared by token holders. As Venice continues to grow, this should create a virtuous cycle: More revenue → more buy & burns → less supply → stronger VVV.
As we’ve hinted, we are also further reducing inflation, from the current 10M VVV per year to 8M. This change will occur within the next 30 days. It will not be the last emission reduction.
These are the first of several steps to drive VVV towards long-term deflation and in bringing VVV further into the core product. As can be seen onchain, Venice remains by far the largest VVV holder, and has been a net buyer since launch.
While balancing tokenomics with the other initiatives of the business, our goal with VVV is simple: VVV as a deflationary capital asset of Venice with native yield.
Our goal with DIEM: rangebound asset providing predictable, price-competitive inference to web3 and AI agent ecosystem.
Over time, more products and revenue streams will feed into this system, aligning the incentives of the Venice business, the VVV and DIEM ecosystem, and our community.
TL;DR:
Next 30 days: cuts to emissions from 10m to 8m VVV annually, start of buy-and-burn.
Near future: further retail product integration and the reveal of Venice V2
Long term: deflationary VVV with native yield
This is just the beginning: soon we’ll be unveiling Venice V2 and the further tokenomic enhancements that expand the burn and accelerate VVV’s deflationary trajectory.
Over the next weeks we’ll be putting out wider announcements detailing each of these topics. Keep an eye out on our channels.
ad intellectum infinitum
– The Venice Team
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