AI Platform’s Revenue Plunges: From $500k to $500 a Day. Crypto Crash or Just Really Bad?

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Well, well, well, if it isn’t the AI agent platform, Virtuals Protocol, watching its daily revenue fall faster than your hopes for a summer body. It’s now sitting at a meager $500 a day. Yes, you read that right. A whole five hundred dollars. Talk about a *glorious* fall from grace.

“Probably one of the wildest crypto charts of the cycle,” Blockworks researcher Sharples declared in an April 8 X post. Wild? More like wild in the sense of watching a car crash in slow motion. 🍿

Once a Crypto Giant, Now a Meme

Sharples went on to say that it’s been “about a week” since a new AI agent launched on Virtuals. Compare that to late November when the platform was churning out over 1,000 AI agents a day like an AI assembly line on steroids. (We’re talking over a thousand, people.)

Back on Jan. 2, the Virtual Protocol token hit a glorious all-time high of $4.61. Blockworks data shows that Virtuals’ daily revenue soared above $500,000. Oops. But that high point? Totally marks the beginning of the end for the AI agent sector. Who knew? 🤔

Fast forward to April 7, and Sharples revealed Virtuals generated “less than $500” in daily revenue. Oh, and the token price? It’s now a sad $0.42. That’s like finding a penny in your couch cushions, but it’s the most depressing penny ever. 💸

As for the AI agent market cap? It’s sitting at a whopping $153.81 million. Oh, but don’t get too excited, because $76.6 million of that is tied up in AIXBT. Yeah, the one that’s dropped 92% since its all-time high of $0.90 in mid-January. Now it’s barely worth $0.07. Cool. 💀

DeGen Capital core contributor Mardo thinks the market’s general downturn is partly to blame, but let’s be honest, there are some weird contractual issues too. Apparently, Virtuals has this thing where they withhold token taxes, unlike other platforms that just give those back. So… shady? Maybe. 🤷‍♀️

All of this, of course, is happening in the context of the entire crypto market tanking alongside global financial markets. Because, you know, it’s not just Virtuals that’s suffering. The US government is too busy sending us into tariffs galore with President Trump turning the economy into a financial version of “Game of Thrones.” 🏰

AI Agents: “Garbage”? Or Just Misunderstood?

“I’m as AI positive as the next guy, but you’re delusional if you think any AI agent is going to replace a great programmer today. Maybe tomorrow, but not today.” Ouch. 🥴

Meanwhile, Infinex founder Kain Warwick made a bold statement, saying that AI *could* make a comeback. *But*—and it’s a big but—he also called the current batch of AI agents “slop” and “garbage.” So, uh… no pressure, AI. 😬

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2025-04-09 07:06