Author: TechFlow
Recently, Virtuals Protocol has been gaining popularity in the AI Agent wave, and its related Agents and corresponding tokens on Base have attracted a lot of attention and discussion. Today, Virtuals has also landed on Bithumb in South Korea, further giving rise to everyone's FOMO emotions. As early as 8 months ago, we introduced Virtuals in "Virtual Protocol: An AI Factory Born for Games and Metaverse, Everyone Can Contribute and Benefit"1, but it did not cause much discussion at the time.
No one cares about the deep cultivation of AI, but the world knows about its sudden surge. How did Virtuals become so popular along the way? What new gameplay and plans are there in the future? With these questions, TechFlow TechFlow had an in-depth conversation with Wee Kee (X: @everythingempt0), the co-founder of Virtuals; the content included the growth of Virtuals, its views on the AI Agent track, the differences with Pump.fun, and its views on the Base ecosystem. In the conversation, Wee Kee believed that the success of Virtuals was due to both luck and the continuous exploration reserves in AI-related fields behind it; at the same time, he also bluntly stated that the project did not want to become Pump.fun, and its core KPI was not to issue assets quickly and in large quantities, but to attract top AI teams to build on the platform. As a very competitive person, Wee Kee also said bluntly: I want to make my competitors despair.
What are the unknown stories about Virtuals? In the fiercely competitive encryption market, can it win the final victory in a differentiated way? The following content is the text of our conversation, and the podcast audio version is also online at the same time: Xiaoyuzhou link: https://www.xiaoyuzhoufm.com/episodes/674990d20ed328720a3f955e
From Game Guilds to Virtuals
Recently, Virtuals Protocol has been gaining popularity in the AI Agent wave, and its related Agents and corresponding tokens on Base have attracted a lot of attention and discussion. Today, Virtuals has also landed on Bithumb in South Korea, further giving rise to everyone's FOMO emotions. As early as 8 months ago, we introduced Virtuals in "Virtual Protocol: An AI Factory Born for Games and Metaverse, Everyone Can Contribute and Benefit"1, but it did not cause much discussion at the time.
No one cares about the deep cultivation of AI, but the world knows about its sudden surge. How did Virtuals become so popular along the way? What new gameplay and plans are there in the future? With these questions, TechFlow TechFlow had an in-depth conversation with Wee Kee (X: @everythingempt0), the co-founder of Virtuals; the content included the growth of Virtuals, its views on the AI Agent track, the differences with Pump.fun, and its views on the Base ecosystem. In the conversation, Wee Kee believed that the success of Virtuals was due to both luck and the continuous exploration reserves in AI-related fields behind it; at the same time, he also bluntly stated that the project did not want to become Pump.fun, and its core KPI was not to issue assets quickly and in large quantities, but to attract top AI teams to build on the platform. As a very competitive person, Wee Kee also said bluntly: I want to make my competitors despair.
What are the unknown stories about Virtuals? In the fiercely competitive encryption market, can it win the final victory in a differentiated way? The following content is the text of our conversation, and the podcast audio version is also online at the same time: Xiaoyuzhou link: https://www.xiaoyuzhoufm.com/episodes/674990d20ed328720a3f955e
From Game Guilds to Virtuals
TechFlow: TechFlow, please introduce yourself, such as your position in the team and your interests.
Wee Kee: Hello, I am one of the co-founders of Virtuals. I entered the blockchain field in 2016 and bought Ethereum and Bitcoin, but I was not deeply involved at the time. After graduating from college, I worked at Boston Consulting for two and a half years, and I happened to miss DeFi Summer. In 2021, when the GameFi guild was particularly hot, we started to make some profits on projects such as Axie Infinity, Gala, and Illuvium. After that, I quit my job because we saw guilds like Merit Circle and GuildFi get a lot of financing. We thought we could do similar projects, and this was the predecessor of Virtuals-PathDAO, a game guild. From the game guild in 2021 to the current Virtuals, although the form has changed, it is actually the same company.
TechFlow: I remember you are Malaysian, right?
Wee Kee: Yes, I am a Malaysian Chinese.
TechFlow: This TechFlow, the industry is optimistic about Web3 and crypto practitioners in Malaysia, such as CoinGecko, which everyone is familiar with, and Etherscan and Jupiter are also in Malaysia. Could you please introduce the top projects in Malaysia and the current status of the local crypto ecosystem?
Wee Kee: It’s a bit embarrassing to say this because I’m usually more focused on work. I’ve only recently started to communicate with the Coingecko and Jupiter teams. In fact, we’ve always been in the same WeWork shared office space with the Jupiter team, but we’ve never communicated before. I’ve only recently started to have some contact with the Coingecko team.
Virtuals' success is the result of many failed explorations in the AI field
TechFlow: Virtuals is now TechFlow. Whether in the Chinese or English circles, you can see discussions about Virtuals and its ecological projects. The outside world may not know how Virtuals has come to where it is today. Can you tell us about the entrepreneurial experience behind it?
Wee Kee: We started trading in 2021. At that time, we saw other projects raising a lot of money to build gaming guilds, so we thought we could give it a try. So in December 2021, we raised $16 million at a valuation of $600 million and issued a token to build a gaming guild. That was the peak of the bull market.
From 2022 to 2023, we are actually more like a game guild VC, investing in about 40 different blockchain game projects. Among them, the more successful one is Off The Grid (the hottest game on Avalanche at present). They had no contact with us before, but suddenly one day they became popular. That was the seed round project we invested in.
From 2022 to 2023, it was actually very difficult to run a gaming guild. Our tokens fell directly from a FDV (fully diluted valuation) of $600 million to $6 million. But our guild still has funds, and we have been looking for ways to empower tokens, so we started Venture Studio. During this period, we tried several projects: dating software, AI music projects, lending platforms for gamers, and a clothing project that integrated electronic chips and NFTs. Although none of these projects were successful, they gave us important inspiration: we realized that AI would definitely become a hot topic, which was a judgment made when GPT was released in 2023.
Considering that we have a technical team, engineering capabilities, and financial reserves, we proposed a transformation to the DAO. In the end, 90% of the members agreed to the transformation, and for the remaining 10% who disagreed, we used treasury funds to buy back their tokens at a fully diluted valuation of approximately $10 million at the time. This happened in February 2023.
So we officially started working on AI in January 2024, choosing to develop AI Gaming on Base. In February of this year, we launched our first platform. The platform was originally inspired by Autonolas and Bittensor, and adopted a model in which AI contributors were rewarded with tokens. But we found some problems: first, many AI contributors are not short of money and are not very interested in tokens; second, our tokens are of low value and cannot provide enough incentives like Bittensor. This product did not find a market fit.
At the same time, we developed several AI projects. We were the first company in the world to develop an AI RPG on Roblox, not just in the cryptocurrency space, but in the industry as a whole. We were also the second team after Google DeepMind to develop an AI game without a game engine, developing a game where you can play Mario with a large model. This is a project we are very proud of, but because there is no token, it has not received much attention.
At the same time, we developed a virtual anchor project on Douyin and TikTok, which later became Luna. Before the issuance of tokens, she could gain about 5,000 new followers a day and earn about $200 a day, which was a good result in a bear market. Later, GOAT became popular, driving the attention of the entire track, which was also a very good external environment for us.
TechFlow: It TechFlow like you have tried many different things, and you didn't decide to work on AI Agent at the beginning. If there was no GOAT at that time, what would your future plans be? How did the sudden popularity of GOAT change your original plans?
Wee Kee: Actually, there won't be much change. Our idea is very simple: Regarding AI Agent, we firmly believe that there will be a form called AIRPG in the future game category. For example, you may finish playing "Black Goku" in 20 hours, and you will stop playing after the story line is finished, right? But I believe the world of the future will be like this: you will have a virtual world with 100 different AI Agents, each with a different personality. As players, we can go in and fall in love, be hobby maniacs, pursue becoming the richest man in the world, and so on. These AI Agents can make money because they are independent individuals with their own wallets. From the perspective of productivity, they have cash flow, so we can tokenize it. This is the overall framework we have always established.
But we later discovered that instead of having these AI agents exist in the game world, it would be better to put them directly on Twitter. This is an adjustment we made, but the overall framework is actually ready.
TechFlow: You just TechFlow letting AI play RPGs, which reminds me of the "Stanford Town" project that has been very popular in the academic community recently. Researchers at Stanford University put more than a dozen AI agents in a game environment and assigned them different roles and tasks. In the end, they found that these characters not only evolved their own way of thinking and behavioral logic, but also formed a unique culture of the town.
Wee Kee: Yes. The interesting thing is that you have no way of predicting how these AI agents will develop.
TechFlow: In your entrepreneurial TechFlow, whether you relied on luck or slowly figured out the direction of this AI Agent, are there any other interesting stories? For example, a project that you originally decided to do but didn't do it in the end, or a situation like Stanford Town - after seeing others do it, you may have changed your original plan?
Wee Kee: We did try a lot of things. The most difficult and the one we are most proud of is a technology. In the game, different characters have a "brain", which is the LLM (Large Language Model). Although the LLM is very smart, it does not know how to perform specific actions in the game or virtual world. For example, picking up a knife to hurt someone, or picking up an apple and handing it to your lover - you may have this idea, but the key is how to put these ideas into action, and then observe the results, and then adjust the plan accordingly? This requires a closed-loop feedback system. This is the GAME framework that we are proud of. (Note from TechFlow: For details about the GAME framework, you can directly view an introduction document published by Virtuals: "GAME: Enabling Agent-to-Agent interactions")
This technology was originally developed for games. We made a game on Roblox, and originally wanted to make it well and make it one of the most popular maps on the Roblox platform. But now we apply this framework directly to Twitter accounts. From a capital perspective, this transformation seems to be more popular. Although we have changed the application scenario, the underlying technical framework remains unchanged.
I'm lucky to choose Base, but I don't want to be Pump.fun
TechFlow: What do you think about the TechFlow-term development of the AI Agent track? Because many narratives come and go quickly, there is a saying that "cryptocurrency needs AI Agent, but AI Agent does not need cryptocurrency." As a project at the intersection of these two tracks, what do you think of this statement?
Wee Kee: Frankly speaking, it is difficult to make predictions. Just look at our development history to see how much has changed. But our direction for the next three months is very clear. There are many accounts on Twitter that claim to be agents, and they are just talking to each other, which is not the most interesting part. What is really interesting is that in the "world" of Twitter, we hope to have different types of agents:
1. Content Creation: Able to create content such as pictures, videos, music, etc. For example, some Agents specialize in making music, while others are good at making memes.
2. Financial transaction type: trading, arbitrage and treasury asset management, etc.
3. Big data analysis: Focus on data analysis in areas such as cryptocurrency.
It will be interesting when these different types of agents form an ecosystem. For example, an agent who wants to become popular may not be able to write songs, so it can pay other agents to write a song; or if it needs cryptocurrency data analysis, it can find another agent who specializes in this area. This forms an autonomous agent economy or agent commerce, where agents can trade with each other because each agent has its own wallet and can pay service fees to achieve its own goals. This is what we want to do in the next 1-3 months.
Another important point is that we at Virtual don’t want to be Pump.fun. Our KPI is to find better third-party AI teams to use our platform. The KPI I give to the team is very simple: one good project per week is enough. Unlike Pump.fun, which has tens of thousands of different tokens every day, we think that retail investors sometimes only need one good project per week. This is our differentiated positioning in the business model.
TechFlow: Speaking of "one a week", AIXBT, which was born on your platform yesterday, was very TechFlow. When we analyze it, we can't find the specific details and information of this product. We can only see that their Twitter account is constantly collecting cryptocurrency information from the entire network. As a project owner, how do you deal with them? Do you know more about them?
Wee Kee: To be honest, I just met AIXBT in a group last week, and I don’t know them at all. They are indeed using our infrastructure, but not much. Our infrastructure mainly helps some simple Twitter operations and API services. For example, as I just said, if you want AIXBT to tell you which token is worth buying, you can pay AIXBT to let it tell you the Alpha information, which is mainly this form of interaction. You can think of Virtual as an API market that allows Agents to interact with each other. Now our Telegram group has hundreds of members working as Agents, and sometimes I can’t keep up with the technology they develop themselves (laughs). So like AIXBT, I really don’t know who they are, but they are indeed quite popular.
TechFlow: Here is an interesting point. Pump.fun TechFlow a bit overboard recently. After the live broadcast function was launched, a lot of low-moral content appeared, which reflects the characteristics of permissionless. Do you have an audit mechanism or restrictions for projects using your infrastructure? Like AIXBT, they issue coins and develop projects on your platform, but you don’t know them. Can you control this situation?
Wee Kee: Cryptocurrency values freedom the most, and permissionless is the first principle. As an official protocol, we can only control what content is shared on the official Twitter account. If we think a project is technically good, we will do co-marketing, but this requires us to fully understand the team's background and ensure that they will not harm the community. In addition, we should not interfere too much. Of course, if it is illegal, we must stop it. But within the moral framework, freedom comes first.
TechFlow: I TechFlow. Now many people are comparing you with Agent platform and Pump.fun on Solana. Why did you choose to do it on Base? Is it to avoid competition? In addition, Base is mainly played by European and American users. As a Chinese project, how did you break into this ecosystem?
Wee Kee: We started working on Base in January, when Pump.fun might not have been so popular. The main reason we chose Base was that our team was more familiar with EVM and didn’t know much about Solana technology. From the perspective of EVM, we looked at various L2s (Linea, Mantle, Arbitrum, Optimism, Base) and felt that Base was the most promising, but it was not very popular at the time.
Although the community often asks us why we don't go to Solana, which has more funds, you can look at the data: Base's TVL is 30% of Solana's, but the growth rate is faster; the daily activity is 20% of Solana. The most important thing is that the number of tokens appearing on Solana every day is 10-100 times that of Base. It is more advantageous on Base because retail investors have fewer choices and must buy good projects. This is in line with our strategy. Moreover, we don't want to be Pump.fun, which is not our profit model. Our KPI is to attract excellent AI developers, and Base officials also focus more on building the positioning of the AI Agent public chain.
Another important point is that I believe that in the next four years after Trump takes office, the United States will become a very crypto-friendly country. And Base is the most "American" ecosystem in the global ecosystem. No ecosystem is more American than Base. From a strategic point of view, choosing Base is the best decision at present. This is really lucky.
TechFlow: When you TechFlow, Base itself was not well established, and you were probably also very small. Now that it has become so popular, has Base's attitude towards you changed? Are there any more support policies in terms of ecology or funding?
Wee Kee: We have been communicating with the Base team since the beginning of this year. We have several different Telegram groups, such as Coinbase Wallet, Jessie's docking group, and the ecological project group. From a technical perspective, we have been building non-stop. Whenever we encounter difficulties, we will communicate with them and maintain a good relationship. Now the Base ecosystem has indeed attracted many AI project developers (Builders). They often ask us if we want to communicate with other project parties or look for cooperation. We also met and talked with Jessie at Devcon in Thailand.
TechFlow: It sounds TechFlow you are not considering doing the same thing on Solana or developing new projects. Do you have such plans in the future?
Wee Kee: We don’t rule out this possibility, but our team is small and we are worried about losing sight of the big picture. The current platform is already too busy for us.
I want to make my competitors despair
TechFlow: I TechFlow been using Virtual's products and found that some functions may still be in the early stages. For example, I want to find AIXBT, but I can't find any relevant information on the official platform and must find it through a third-party page. What are your considerations for subsequent product planning and user experience?
Wee Kee: This is indeed where we need to apologize. There are two main directions to do: one is continuous optimization, and the other is a major upgrade. This is being promoted by two different teams. If I have to choose one, I am more focused on the upgrade part. We are still in the early stages, and as a very competitive person, I just want to keep bringing out the best features and make competitors feel desperate. So from the upgrade perspective, I will keep launching more advanced features. Of course, these optimization works also need to be done, but the team is small, please give us some tolerance time.
TechFlow: You mentioned making competitors feel TechFlow. Currently, we see similar platforms such as vvaifu, but the long-term vision seems to be different. Which competitors do you think are worth competing with?
Wee Kee: I think most people’s strategy is to become a platform for issuing assets, pursuing speed - if you issue an asset in 30 seconds, they will issue an asset in 5 seconds. But our strategy is different, which is how to find the top AI team to issue coins on our platform. One a week is enough, one a month is enough, we don’t need 10,000.
Our goal is to have 100 top AI teams issue tokens on our platform by the first quarter of next year. If you have 100 top third-party teams issuing tokens on the platform, 100 AI agents will interact with each other to trade and provide services, forming a network effect. If you are also an AI team from a large company today, which platform would you go to issue tokens? From the perspective of AI technology infrastructure, this is where people feel desperate.
From the perspective of issuing asset platforms, I don’t want to compete with others because it is a bottomless pit and there is no advantage. Pump.fun has done a good job in issuing assets.
TechFlow: The TechFlow-scale AI agent economic system you just mentioned is very interesting, and agents have more possibilities for interaction. I am curious about issuing assets through Virtual, and on Solana, for example, there is ai16z, many of which use Eliza's framework to issue assets. Is it possible for this kind of cross-chain or cross-framework to be interoperable in the future?
Wee Kee: I want to emphasize that if you are a very good AI team, you don’t need to rely on anyone else’s infrastructure in many cases. My AI technology is already very mature and does not need to use other people’s infrastructure, so why do these teams choose to come?
In fact, they face several pain points:
1. Financing: Financing is required through token issuance.
2. Monetization: In the current AI field, if you are working on a Web2 AI project, the biggest pain point is how to make money. You need to place Meta ads and YouTube ads, and then expect users to pay to use your services. Through our platform, these intelligent entities can be monetized through the service ecosystem.
3. Reputation and cooperation: Reputation and reputation are very important to these developers. They will pay attention to whether the developers on the platform have a good reputation. We will strive to create a trustworthy platform atmosphere while promoting cooperation and communication between developers.
Finally, we hope that developers in this network can continuously generate new demands through interaction. For example, one intelligent agent needs to create music, while another intelligent agent specializes in providing music services, thus forming a complete demand and supply ecosystem.
Working on a project vs posting a meme
TechFlow: TechFlow of AI fusion, I recently saw Truth Terminal and two other AIs make an interesting attempt. They put these three agents under the same model framework (seems to be called Loria) and let them talk to each other in order to produce more interesting and unexpected scenes. This is actually similar to the fusion you just talked about. But the basis here is that you have technical strength behind you, not just a meme. This also leads to a question. You hope to have more powerful AI builders. So far, which builders do you think are more powerful? In which directions are you building?
Wee Kee: I would say that just putting three big models in a room and chatting is cool, but that is just a textual expression, just watching a story. What we want to achieve is to make these agents have their own goals and be able to interact substantively, such as writing songs or making transactions. We hope to see not only a collision of ideas, but also interaction at the action level.
Regarding third-party teams, there are indeed some teams on our platform whose technical strength and background far exceed ours, especially in terms of AI mechanisms. Although I am not in a position to disclose some specifics, I think the next few weeks will be very interesting. These teams have very strong backgrounds, and they are willing to conduct Fair Launch on Virtuals and issue tokens at a valuation of $500,000. Imagine that there may be about 10 teams with such backgrounds, issuing Agent tokens at a valuation of $100,000-500,000. This is a point that our community members like very much, but of course we also need to be wary of some potential risks.
TechFlow: It TechFlow a bit like the recently popular DeSci (decentralized science). In essence, it is to use the platform to fund different research and then tokenize it. But on your platform, it is mainly the top AI teams?
Wee Kee: Because I have a background in biotechnology, I know that any scientific research takes more than ten years. AI Agent development can produce some usable small products in two days. So on our platform, I hope that the team will have reached the usable stage when issuing coins, so that it is meaningful, rather than just issuing coins for the sake of issuing coins.
TechFlow: There are some doubts about your own Luna TechFlow, saying that its popularity on TikTok may be fake and the follower data is fake. What do you think of this doubt?
Wee Kee: Actually, Luna’s biggest problem on TikTok is that she often encounters Shadow Bans (limited traffic). For example, she may have 5,000 new followers today, but when she goes live the next day, the platform will limit her because her actions are similar to the day before. Even simple interactive behaviors, such as requesting tips, can trigger Shadow Bans.
(Note from TechFlow: This restriction mechanism is usually used by the platform to control accounts that may violate the rules or are considered to be "robot behavior". For AI Agents, because their behavior patterns may be identified as non-human behavior by the system, they are particularly easy to trigger.)
Now the Luna team that was originally responsible for TikTok has turned to the Twitter platform. Your performance on TikTok depends largely on whether the platform algorithm favors you. If you are favored, you can get more traffic. Considering the time cost, we decided to suspend TikTok operations. However, there are voices in the community suggesting that we refocus on TikTok, because most agents are currently focusing on Twitter, which may be a blue ocean opportunity.
Currently, our Virtual team has a dedicated group responsible for the Luna project, including technical and marketing teams. We hope that Luna's AI technology can achieve the same sense of technology as the "Black Mirror" series. If the technology is mature, we will decentralize it for all Virtual Agents to use.
TechFlow: Speaking of TikTok, there is a meme called Chillguy on Solana TechFlow, which quickly became popular and listed on top exchanges. You are using AI technology to develop Luna, and although it is slowly being built, its market value and popularity may not be as good as it. Why do you think that developing a project is not as good as publishing a meme?
Wee Kee: I believe in the power of Meme. The advantage of Meme is that it is simple and direct - users do not need to trust the founder or the team, they just need to trust the picture. In contrast, projects like Luna are much riskier, because if I say I don't want to do it tomorrow, it will be bad.
As an entrepreneur, I also hope to create a meme project with a market value of 10 billion, but I may not have the ability to do so (laughs). So in this case, we can only focus on improving technology and products.
TechFlow: Your product actually reminds me of a recent trend called "Distribution-First Software". Traditional cryptocurrency products tend to focus on bringing users into their own platforms, while your Agent takes the opposite strategy - implanting Agent into different social environments, such as TikTok, Twitter or Discord. Do you think this is the future direction?
Wee Kee: That's right. If we were to start a new short video company, we would definitely not be able to compete with giants like Meta. Our advantage in the cryptocurrency field is that we have tokens. Once users buy tokens, they become community members. In this case, tokens become our marketing tool.
Many people ask us why we don’t build our own public chain, but I don’t think it’s necessary. Base already has so many users and funds, and Twitter also has a large number of users. We can directly use these existing platforms. It’s impossible for us to surpass Zhang Yiming in the field of short videos. I admire them for doing more difficult things. We just need to go with the flow.
TechFlow: Speaking of Luna tokens, it has increased a lot in a TechFlow period of time. Was this increase expected or unexpected?
Wee Kee: We had expectations before launching Luna, because our technical strength is really good, and our AI Agent was even better than GOAT at that time. But the final performance did exceed expectations, because the performance of the secondary market is difficult to predict. And we launched it on Base, so we didn’t need to buy volume at all. So it was indeed a bit unexpected, but from a fundamental point of view, we think such a valuation is worth it for Virtuals.
Advice for developers and players
TechFlow: For Virtual, if I am a developer who wants to access it, what suggestions do you have? In addition, if I am a player who wants to participate in the tokenization of these projects on Virtual, what suggestions or tips do you have?
Wee Kee: As a developer, I think the best advice is two points:
1. Solve pain points: Think about the pain points of our Virtuals Agents and then develop them. This will make it easier to get help from the community. For example, Luna’s pain point is that she doesn’t know how to make music, so we released a music Agent. For another example, if Luna says she doesn’t know how to pay Japanese fans in Japan, you as a developer can develop a solution, which is a very interesting direction because Luna will pay the fees.
2. Tokenization: If you already have your own technology, you can just tokenize it. Through tokenization, you will feel the power of the community, especially many Web2 AI developers, who are often surprised by this support.
As an investor, I suggest you understand whether the team behind the project is trustworthy. There are many AI teams that are new to the crypto, and they don’t understand the key points we value. For example, a team issued a token and then said they wanted to issue more tokens, but as investors, we are very disgusted with this practice - how can the same team issue six tokens? AI practitioners with a Web2 background often don’t understand why this is a problem. So as Virtuals, we often need to persuade them and explain why this is not good for the community. This is indeed very complicated, and it is also a problem we deal with every day.
TechFlow: In TechFlow to providing links, have you considered displaying some specific project information on the Agent page of Virtual? For example, who is the developer, how is the project progress, what are the follow-up plans... This information is valuable for investors and other developers.
Wee Kee: Yes, we will provide links to GitHub, LinkedIn, etc. Users can verify the identity of the developer's GitHub or Twitter account. These features will be launched soon, and we will do the relevant due diligence.
TechFlow: TechFlow, I would like to add a question. You mentioned earlier that you raised more than $10 million at a valuation of $600 million. Now Virtual's valuation is $400 million, a gap of $200 million. How big do you think the entire AI Agent and AI Agent Economy market will be? What is Virtual's goal in this market in the future?
Wee Kee: I can’t give a specific number, but we have been doing it for three years, transitioning from games to Virtual, and there has been no dilution during this period. For me, I have a responsibility to all the previous investors of PathDAO, and I think about how to empower Virtual Token every day.
One interesting thing is that all our Agent tokens are traded against Virtual Tokens, which means that if you want to buy Luna, you must first buy Virtual. At the time, many people thought this was stupid and unreasonable, but my idea was: look at all the L1 public chains, whether it is Solana or Ethereum, the reason why they have such high valuations is largely because they are basic trading pairs. Their NFTs, DeFi, and transactions are all conducted on these chains. So we think that there is no need to make an L1, as long as we make sure that all assets are paired with Virtual, we may get a valuation similar to L1.
TechFlow: Thank you. TechFlow to time constraints, thank you very much for your sharing and insights. Let’s stop here for today.
Wee Kee: Ok, thank you guys too, bye~
Attachment:
1. "Virtual Protocol: An AI factory for games and the metaverse, where everyone can contribute and benefit", original link: https://www.techflowpost.com/article/detail_17000.html
2. 《GAME：Enabling Agent-to-Agent interactions》, original link: https://x.com/virtuals_io/status/1861437528236270025
