Virtuals Protocol revenue drops to $500 amid AI agent decline

Virtuals Protocol (CRYPTO:VIRTUAL), once a thriving AI-driven blockchain platform, has seen its daily revenue plunge to just $500, marking a dramatic 99% decline from its January peak of over $1 million.

The downturn reflects waning demand for AI agents and broader struggles in the cryptocurrency market.

Blockworks researcher Sharples highlighted the steep drop in activity, noting that no new AI agents have been launched on the platform in over a week.

This is a stark contrast to November 2024, when Virtuals was creating over 1,000 AI agents daily.

By March 2025, daily agent creation had fallen below 10, signaling a collapse in user interest.

Virtuals Protocol’s native token, VIRTUAL, has also suffered significant losses.

After reaching an all-time high of $4.61 on January 2, the token’s value has dropped by over 90%, trading at $0.42 as of April 7.

The broader AI agent token market has similarly declined, with weekly trading volumes falling from $2.5 billion in December to just $54 million by March.

The platform’s expansion to Solana (CRYPTO:SOL) on January 25 failed to reverse its fortunes.

Solana itself has faced scrutiny due to scams and failed projects, further dampening investor confidence.

Virtuals Protocol recorded revenues of $28,492 on Base and $6,300 on Solana in late February, a sharp decline from earlier performance levels.

Critics have pointed out flaws in the functionality of Virtuals’ AI agents.

Commentator BitDuke dismissed them as “ChatGPT wrappers,” while another analyst argued that current AI agents are far from replacing skilled programmers.

Despite these setbacks, some experts believe the sector could recover as technology evolves.

At the time of reporting, the Virtuals Protocol (VIRTUAL) price was $0.4532.