Virtuals Protocol: AI Agent Boom Fizzles, Leaving Investors High and Dry

The highly anticipated boom of AI agents has taken a sharp downturn for Virtuals Protocol, a platform that allows users to build and monetize these digital companions. In just three months, the company’s daily revenue has plummeted from over half a million dollars at its peak in January to a paltry $500, according to insights from Blockworks researcher Sharples. This dramatic decline follows Virtuals’ token price plunge from $4.61 to near worthless, trading as low as $0.42. AI agent creation has come to a standstill as well, leaving only sporadic new agent launches in recent weeks.