What is Virtuals Protocol (VIRTUAL)?

Bittime - Virtuals Protocol (VIRTUAL) is a platform that combines AI with blockchain. The platform allows users to not only play games, but also build and own them agen virtual themselves. So, what is Virtual Protocol (VIRTUAL)? Read the full review!

With this innovative approach, Virtuals Protocol opens the door to new, more profitable and interactive experiences in the GameFi world. 

This article will take a deeper look at what Virtuals Protocol is, its main features, how it works, and how this platform can change the face of GameFi in the future.

What is Virtuals Protocol (VIRTUAL)?

Virtual Protocol (VIRTUAL) is a platform built on top of Base blockchain, which allows its users to design and launch AI agents. 

This agent is a virtual character who can interact with the surrounding environment and generate income independently. 

With concept co-ownership (shared ownership), Virtuals Protocol allows its users to invest in and own a portion of the AI ​​agents they create.

Virtual Protocol bThis is different from other platforms which only allow users to interact with existing virtual agents or characters. This platform gives its users the opportunity to build, develop, and even profit from these virtual agents. 

Every virtual agent on this platform is equipped with the ability to generate income through various interactions that can be utilized in various sectors, such as gaming, social media and entertainment.

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Main Features of Virtuals Protocol (VIRTUAL)

Virtuals Protocol offers several key features that set it apart from other platforms in the GameFi and AI world. Here are the main features you need to know:

Co-Ownership Approach (Joint Ownership)

One of the main features of Virtuals Protocol is co-ownership. This means that users can not only use AI agents, but also own parts of those agents. 

Each virtual agent created will be accompanied by a special token used to represent ownership. Owners of these tokens can participate in decision-making regarding the development and improvement of the agent, which creates a sense of shared ownership in the ecosystem.

Income Generating Environment

Virtuals Protocol is designed to enable AI agents to generate revenue for their owners. These agents can be used in a variety of consumer applications, such as gaming, social media, and entertainment. 

Each interaction with an AI agent will incur a so-called fee "inference cost", which is distributed directly to the agent and owner. 

The revenue generated is then used to buy back and burn agent tokens, which creates scarcity and increases the value of remaining tokens.

User Involvement in Agent Development

Users have the opportunity to participate in the development of AI agents through a contribution mechanism that democratizes the creation process. 

They can provide data or models that can improve the performance of AI agents, which are then checked and approved by validators through mechanisms delegated proof-of-stake (DPoS).

How Virtuals Protocol (VIRTUAL) Works

Virtuals Protocol works by integrating blockchain And AI to create an ecosystem that allows users to own and interact with AI agents autonomously. Here is how Virtuals Protocol primarily works:

1. Modular Consensus Framework

Virtuals Protocol uses a modular consensus framework to ensure seamless interaction between various participants in the ecosystem. 

There are two main types of participants: Contributor who submit ideas or data to improve AI agents, and Validator who evaluates and approves the contribution.

2. Immutable Contribution Vault (ICV)

All approved contributions are deposited in Immutable Contribution Vault (ICV), which aims to maintain transparency and accurate attribution in agent development. 

Any contributions received will be saved as Service NFTs in a system recorded on the blockchain.

3. Use of $VIRTUAL Token

Virtuals Protocol uses tokens $VIRTUAL as the main asset in the ecosystem. These tokens are used for various transactions, including purchases of AI agents and payments for interactions with agents. 

This creates continued demand for $VIRTUAL tokens within the ecosystem.

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What is $VIRTUAL Token?

Token $VIRTUAL is the main token in the Virtuals Protocol ecosystem used for various transactions. These tokens are used to purchase AI agents, pay interaction fees, and as instruments to govern agent ownership and development. 

The existence of this token is very important because it creates sustainable demand and supports the economy in the ecosystem. Some of the main uses of the $VIRTUAL token are as follows:

- Payment for Agent Interaction: Users pay a fee every time they interact with an AI agent using $VIRTUAL tokens.

- Token Holders Play a Role in Decision Making: Holders of $VIRTUAL tokens can participate in the governance and development of the platform.

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Tokenomics and $VIRTUAL Token Distribution

Sumber: Virtuals Protocol Whitepaper

The total supply of $VIRTUAL tokens is 1.000.000.000 token, which has been fully distributed and without future inflation. Here are the distribution details of $VIRTUAL tokens:

• Public Distribution: 60% (600,000,000 tokens) are already circulating on the market.
• Liquidity Pool: 5% (50,000,000 tokens) set aside for the liquidity pool.
• Ecosystem Treasury: 35% (350,000,000 tokens) for ecosystem initiatives and incentives managed by a DAO with multi-signature control.

This distribution mechanism supports the platform's goal of creating a sustainable economy and democratizing AI ownership.

Conclusion

Virtual Protocol (VIRTUAL) opens a new chapter in the GameFi world by combining AI And blockchain. This enables shared ownership of virtual agents that can generate revenue. 

Through features such as co-ownership, revenue-generating agents, and the use of the $VIRTUAL token as the primary asset, the platform provides the opportunity for anyone to get involved in the fast-growing digital economy. 

FAQ About Virtual Protocol

What does Virtuals Protocol do?

VIRTUAL Protocol is a cutting-edge decentralized platform designed to revolutionize the creation and monetization of AI agents for every virtual interaction, from games and metaverses to online engagement and beyond.

What is Virtuals Protocol coin?

Virtuals Protocol (VIRTUAL) is an innovative crypto asset that aims to revolutionize virtual interactions through AI and Metaverse protocols.

Who are the founders of Virtuals Protocol?

The founders of Virtuals Protocol are Jansen Teng and Weekee Tiew. 

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Reference

Bitget, What is Virtual Protocol (VIRTUAL)? A Guide to AI Gaming, accessed December 8, 2024.

Medium, Akun Medium Future Value, accessed December 8, 2024.

Virtual Protocol, Virtual Protocol Whitepaper, accessed December 8, 2024.

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