Venice AI founder reveals details of Series A funding: This round's investors receive 8.98% equity, 1.5 million VVV vesting grant, and the right to purchase 5 million VVV over the next 8 years.

CoinFeed July 1 news, according to Venice AI founder Erik Voorhees, to complete a $65 million Series A funding, Venice chose to sell equity rather than directly dump VVV. Although VVV has risen over 700% this year, Venice has not sold any tokens, currently holding over 30 million VVV, accounting for more than 37.5% of the total supply of 80 million, still the largest holder. This round's investors reportedly receive 8.98% equity, 1.5 million VVV vesting grant, and the right to purchase 5 million VVV over the next 8 years; if fully exercised, Venice's total funding will increase to $131.5 million. Relevant tokens are locked for 1 year and then linearly unlocked over 3 years, with estimated daily new circulation of less than 6,000 tokens, accounting for only about 0.2% of current daily trading volume.