Virtuals Protocol, an AI agent creation and monetization platform once valued in the billions, has seen its daily revenue drop to just $500, down from over $500,000 in January when its token hit a peak of $4.61.
Researcher Sharples noted on April 8 that no new AI agents have launched on the platform in about a week, a sharp decline from the 1,000 daily launches in late November.
The token price has since fallen to $0.42, reflecting waning demand for crypto AI agents.
The total AI agent market cap is $153.81 million, with AIXBT, a sentiment analysis agent, comprising half but dropping 92% from its $0.90 high in January to $0.07.
Virtuals’ struggles align with a broader crypto and global market downturn, exacerbated by U.S. tariffs under President Trump, though some, like Infinex’s Kain Warwick, suggest AI could rebound despite its “garbage” first iterations. Show Less
