The AI agency platform Virtuals' revenue has plummeted to $500 per day, and the token has dropped by 90%.

CN
1 month ago

Source: Cointelegraph Original: "{title}"

The daily revenue of the AI creation and monetization platform Virtuals Protocol has plummeted to just $500 as the demand for crypto AI agents continues to decline.

Blockworks researcher Sharples stated in an X post on April 8, "This might be one of the craziest crypto charts of this cycle."

Sharp Decline in AI Agent Creation

Sharples noted that it has been "a week" since the last new AI agent was launched on the Virtuals platform, while data from Dune Analytics shows that at the end of November last year, the platform was still helping to create over 1,000 new AI agents daily.

According to Blockworks, the Virtual Protocol (VIRTUALS) token reached an all-time high of $4.61 on January 2, when Virtuals' daily revenue exceeded $500,000.

However, this seems to mark the beginning of a downward trend, suggesting that the AI agent industry may have peaked. Even after the project announced its expansion to Solana on January 25, the downward trend continued.

On April 7, Sharples pointed out that Virtuals' daily revenue had "fallen below $500," with its token price dropping to $0.42.

Virtuals Protocol's AI agents have generated $39.1 million in lifetime revenue. Source: Dune Analytics

According to Dune Analytics, the total market capitalization of AI agents is $153.81 million. However, $76.6 million of that is allocated to AIXBT, a project that analyzes crypto sentiment on the social media platform X to capture trends.

AIXBT has dropped 92% since reaching an all-time high of $0.90 on January 16. According to CoinMarketCap, it was trading at $0.07 at the time of publication.

DeGen Capital core contributor Mardo stated that current market conditions have played a role in Virtuals' decline, but it may also relate to the terms between Virtuals and developers, such as "withholding token taxes, while other platforms return those taxes to users."

This situation occurs against the backdrop of a declining crypto market, while global financial markets are also under pressure, with U.S. President Trump continuing to raise tariffs, and concerns that this could lead to an economic recession.

Current AI Agents Criticized as "Garbage"

However, many criticize AI agents for their lack of functionality. AI commentator BitDuke remarked on Virtuals' revenue decline, "The packaging of ChatGPT is no longer interesting; who would have thought?"

AI commentator "DHH" stated in an X post on April 8, "I am as enthusiastic as other AI supporters, but if you think any AI agent today can fully replace a great programmer, you are simply fooling yourself. Who knows what the future holds, but today is not that time."

Meanwhile, Infinex founder Kain Warwick recently stated in an interview with Magazine that despite the "first version of AI agents being garbage," AI may see a revival.

Related: Bubblemaps claims Melania's meme coin team "quietly sold" $30 million

This article does not provide investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research before making decisions.

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