Virtuals are hot right now: Is the "Pump.fun" moment for the AI Agent zone coming?

Original | Odaily Daily Report (@OdailyChina)

Author | Asher（**@Asher_ 0210 ）

As the price of Bitcoin recovered, market sentiment gradually warmed up, and some popular altcoin sectors also strengthened. Among them, the performance of the AI Agent track is particularly prominent, and the Virtuals ecosystem has become the focus of heated discussions in the community recently. According to GMGN market data, as of now, the VIRTUAL token has risen by nearly 90% weekly, and many tokens in its ecosystem have also ushered in good gains: AIXBT's current market capitalization is about $130 million, a weekly increase of 44.4%; GAME's market capitalization was $50 million, up 140.9% for the week; VADER was at $34 million, up 200.1% for the week; LUNA's market capitalization reached $21 million, up 91.2% for the week.

On this occasion, the Virtuals official platform has launched a new mechanism for initial offerings called Genesis Launch, sparking discussions in the market about whether the "wealth creation effect" from initial offerings is reappearing. Is this round of ecological rally driven by capital inflow from new platform play, or is it a short-term emotional release during a technical rebound?

What is Genesis Launch?

! Virtuals is hot: The "Pump.fun" moment of the AI Agent section is coming?

Genesis Launch is a fair launchpad platform created by Virtuals Protocol specifically for AI Agent tokens, where users can gain priority access to these new tokens by holding VIRTUAL tokens and earning points.

Genesis Launch will be raised with a fixed amount of 112,000 VIRTUAL tokens, and all Virgens users will participate in the early subscription on an equal footing by staking Virgen Points, and the allocation amount will be determined after the end of the 24-hour points auction period. If the fundraising goal is not reached, no tokens will be issued and all VIRTUAL and points will be refunded in full.

Compared to issuance models like Pump.fun that emphasize speed in purchasing, Genesis Launch introduces an admission mechanism that pays more attention to users' early participation and contributions, which is expected to enhance the fairness and controllability of the launch process to a certain extent.

Points Rules Analysis

How to earn points

Virtuals distribute a certain total amount of points every day according to different allocation ratios to incentivize their contributions to the ecosystem, and the points system is dynamically updated every day.

Point distribution situation

Currently, according to official information, there are three ways to participate in the Genesis Launch project for new investments:

• Invest in other AI Agents within the Virtuals ecosystem to earn points. Currently, there are two main categories: Sentient (emotional AI Agents) and Prototype (prototype AI Agents), where the highest market cap for Prototype projects is only $290,000. 75.01% of the platform's daily points will be allocated to this segment of users;

Virtuals ecosystem: Sentient and Prototype, two major types of AI Agent

• Purchase and hold Virtuals tokens to earn points, 19.99% of the platform's points will be allocated to this portion of users daily;
• Purchase and stake VADER tokens to earn points. VADER is also the token of the AI Agent project Vader AI in the Virtuals ecosystem. By holding this token and staking it, users can earn points to participate in new token offerings. 5% of the platform's daily points will be allocated to this group of users.

How to use points for new investment

During the subscription process of the Genesis Launch, it is necessary to pledge both user points and VIRTUAL tokens to obtain a share of the new project tokens. The specific process is as follows:

• Prepare VIRTUAL: If you want to participate in the new token launch, you need to prepare a certain amount of VIRTUAL tokens;
• Accumulate Virgen Point: Accumulate points (Virgen Point) through the several methods mentioned earlier;
• Participate in the subscription: After the new project presale starts, there is a 24-hour window to visit the official website, using VIRTUAL and points to stake for participation. The system will estimate how much VIRTUAL is approximately needed;
• Wait for cents: After the pre-sale ends, the system will distribute new tokens in proportion to the points, and the unused VIRTUAL and points will also be refunded to the original method.

Points are the "core" of participating in the Genesis Launch bid. The more points you have, the higher your allocation ratio, but the limit for each person is 0.5% of the total supply of new tokens.

Genesis Launch New Project Overview

Nearly half of the projects successfully raised funds, the first project over-raised by 21 times.

According to official information, as of now, 19 projects have chosen to launch on the Genesis platform, of which 8 projects have been successfully released. The first project to go public, h011yw00d (HOLLY), was oversubscribed by 21 times. It is worth mentioning that even though P.L.A.Y Game AI was oversubscribed by 5.6 times, the project attempted to conduct malicious operations during the Genesis Launch period, trying to profit from the situation, deceive users, and undermine trust. As a result, it has been permanently suspended from the Virtuals official launch, and a compensation plan has been initiated immediately to compensate affected users.

Participation status of the fundraising project that has ended

The Genesis platform's initial offerings have not produced a clearly recognized "big winner"; the overall wealth creation effect is relatively weak and may still be in the early stages. Among the 19 projects initially launched on the Genesis platform, only three projects have a market cap still above one million dollars (BIOS market cap 5.9 million dollars; HOLLY market cap 2.3 million dollars; PILOT3 market cap 1.2 million dollars), while the rest have market caps only in the hundreds of thousands of dollars, and there are also 11 projects that failed to raise funds.

There are still many upcoming projects for new listings, and the quality needs to be assessed by yourself.

Currently, on the Virtuals platform under the "Live & Upcoming" section, users can view multiple upcoming or ongoing token sale projects, including information on each project's current progress, number of participants, and the amount of VIRTUAL raised.

From an overall perspective, the Genesis Launch platform has not yet entered a significant FOMO stage, and there are certain differences in quality and popularity among some projects. Therefore, Odaily recommends that participants understand the basic information of the projects before deciding whether to participate, especially considering whether to take over on the secondary market.

Overview of upcoming initial projects

Summary

Compared to other popular framework-based AI Agent projects like auto.fun launched by ai16z and Swarms Launchpad launched by Swarms, the Genesis launch mechanism introduced by Virtuals clearly outperforms in both market performance and community attention. With its unique points system and relatively fair distribution model, Genesis Launch has taken the lead in the current AI Agent narrative, coupled with the strong performance of the VIRTUAL token itself, driving the entire ecosystem into an upward cycle.

However, based on the completion rate of projects launched on the current platform and the performance in the secondary market, the "wealth creation effect" of new projects has not yet been fully released, and Genesis seems to be in an early cold start phase. Although several projects have achieved oversubscription, most of their market values remain at a low level, and there has not yet been a phenomenal "Golden Dog". Whether Genesis can truly become the next "Pump.fun" in the AI Agent sector still depends on the birth of more blockbuster projects and the concentrated release of community sentiment.