Venice ai (VVV) Describes Itself As

Venice | Private and Uncensored AI is an artificial intelligence platform that aims to provide an uncensored alternative to ChatGPT. Venice | Private and Uncensored AI claims that it doesn’t censor its underlying models, allowing for uncensored and unrestricted interactions. There are two versions: a free standard version and Venice Pro, a paid option with higher limits and more customization. The platform lets users upload text documents like PDFs, and generate images. User data, including prompts and responses, are stored locally in the user’s browser rather than on Venice’s servers. 

Project Function

Venice.ai believes in offering a solution for humans to interact with machine intelligence without centralized surveillance and control. The project suggests that messages sent to platforms like ChatGPT could be stored permanently, potentially exposing user data to risks such as sharing with third parties or governments. Venice | Private and Uncensored AI claims to take a different approach, focusing on keeping user data private.

Since its development Venice | Private and Uncensored AI has gained over 450,000 users, with more than 50,000 daily active users, making around 15,000 requests an hour. You can try it without an account here.

Token Utility

The VVV token is designed to make it easier for users to access Venice | Private and Uncensored AI 's features without extra costs. By staking the token, users can unlock ongoing access to tools like AI-generated text, images, and code—no need to pay for every single request.

After launching its API last November, Venice introduced a new token system that gives stakers free access to AI through the API. Venice’s token utility revolves around powering an unrestricted machine intelligence platform. Token utility includes:

1. Staking: Tokens staked on the platform provide free access to Venice’s AI inference data flow via the project’s API. Stakers also earn yield in VVV tokens.
2. Incentives: Tokens may be used to reward developers and users for contributing to Venice’s ecosystem via the project’s Incentives Fund.

More information on the VVV token’s future utility and economic incentives can be found here.

About The Founders

Erik Voorhees, known for founding the cryptocurrency exchange ShapeShift, founded Venice | Private and Uncensored AI in May 2024, and is the company’s sole investor. Teana Baker-Taylor, former Vice President of Policy and Regulatory Strategy at Circle, joined as COO.

Risks of VVV

Like an investment in other crypto assets, there are some general risks to investing in VVV. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in VVV is subject to the following specific risks:

• VVV operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with VVV. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The VVV community and Venice | Private and Uncensored AI team founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of VVV have no recourse to the VVV community, Venice | Private and Uncensored AI team founding team, or Uphold if VVV declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing VVV on the Uphold Platform, Uphold performed due diligence on VVV and determined that VVV is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of VVV, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of VVV.
• Any marketing materials put forward by the VVV social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with VVV, including any code defects, security breaches and other threats concerning VVV and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with VVV, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of VVV.