Despite several projects being oversubscribed, most maintain relatively low market caps, with no breakout "golden goose" emerging so far.

  Authored by Asher, Odaily Planet Daily

"With Bitcoin's price rebounding, market sentiment is gradually improving, and several popular altcoin sectors are gaining strength. Notably, the AI Agent sector stands out, with the Virtuals ecosystem becoming a hot topic in recent community discussions. GMGN market data shows that the VIRTUAL token has surged nearly 90% weekly, while other tokens in its ecosystem have also posted impressive gains: AIXBT's market cap now stands at around $130 million, up 44.4% for the week; GAME has a $50 million market cap, soaring 140.9%; VADER is valued at $34 million, skyrocketing 200.1%; and LUNA's market cap reaches $21 million, climbing 91.2%."

Amid this development, Virtuals' official platform introduced a new listing mechanism called Genesis Launch, fueling market debates on whether the "wealth effect from new listings" is making a comeback. Is the current ecosystem-wide rally driven by capital inflows from the platform's innovative approach, or merely a short-term sentiment surge amid a technical rebound?

  What is Genesis Launch?

Genesis Launch is Virtuals Protocol's dedicated fair-launch platform for AI Agent tokens, where users gain priority access to new token allocations by holding VIRTUAL tokens and accumulating points.

The Genesis Launch will conduct a fixed offering of 112,000 VIRTUAL tokens. All Virgens users can participate in the early subscription phase equally by staking Virgen Points, with allocation amounts finalized after a 24-hour points auction period. If the fundraising target isn't met, no tokens will be issued, and all VIRTUAL tokens and staked points will be fully refunded.

Unlike speed-focused platforms like Pump.fun, Genesis Launch implements an access mechanism to prioritize user engagement and contributions upfront, aiming to improve fairness and control in the token launch process.

  Analysis of points rules

  How to earn points

Virtuals allocates a fixed daily amount of points based on varying distribution ratios to reward ecosystem contributions, with the points system being updated dynamically each day.

  Points distribution status

According to official information, there are currently three methods to participate in the Genesis Launch project's token sale:

• Earn points by investing in other AI Agents within the Virtuals ecosystem. The two primary categories are Sentient (emotion-based AI Agents) and Prototype (prototype AI Agents), with Prototype projects having a maximum market cap of $290,000. Users in this category will receive 75.01% of the platform's daily point distribution.

Virtuals ecosystem's two major AI Agent categories: Sentient and Prototype

• Buy and hold Virtuals tokens to accumulate points, as 19.99% of the platform's daily points are distributed to these holders;
• Buy and stake VADER tokens to accumulate points. VADER is the native token of Vader AI, an AI Agent project in the Virtuals ecosystem. Staking these tokens grants users points for participating in new token launches, with 5% of the platform's daily points distributed to stakers.

  How to participate in IPO subscriptions using points

To participate in the Genesis Launch token offering, users must stake both their user points and VIRTUAL tokens to receive allocations of the new project tokens. The detailed procedure is outlined below:

• Get ready with VIRTUAL: You'll need to hold a certain amount of VIRTUAL tokens to participate in the token launch
• Earn Virgen Points: Use the methods mentioned above to accumulate points (Virgen Points);
• Join the subscription: Once the new project's pre-sale launches, you have 24 hours to visit the official website and stake both VIRTUAL tokens and points to participate. The system will provide an estimated amount of VIRTUAL required
• Awaiting token distribution: Once the presale concludes, the system will distribute new tokens based on point ratios. Any unused VIRTUAL tokens and points will be automatically refunded to their original source.

Points are crucial for participating in the Genesis Launch token sale. The more points you accumulate, the larger your allocation share, with each participant capped at 0.5% of the total token supply.

  Overview of Genesis Launch's new projects

  Nearly half of the projects secured funding, with the first one oversubscribed 21 times

Official data shows that 19 projects have opted for Genesis as their initial launch platform so far, with 8 successfully completing their sales. The first project, h011yw00d (HOLLY), saw an oversubscription rate of 21x. Notably, P.L.A.Y Game AI, despite being oversubscribed 5.6x, engaged in malicious activities during the Genesis Launch—attempting to exploit the hype, mislead users, and breach trust. Consequently, Virtuals permanently canceled its launch and promptly rolled out a compensation plan for affected users.

  Participation status of concluded fundraising projects

The Genesis platform's token launches haven't yielded any standout "big hits," showing generally lackluster wealth-generation effects—likely because it's still in its early stages. Of the 19 inaugural projects on Genesis, only three maintain market capitalizations over $1 million (BIOS at $5.9M, HOLLY at $2.3M, and PILOT3 at $1.2M), while the others linger in the low hundreds of thousands. Moreover, 11 projects failed to secure funding altogether.

  Numerous projects are yet to be launched, and their quality requires personal assessment

Currently, in the "Live & Upcoming" section of the Virtuals platform, users can explore various upcoming or active token launches. The section displays details like each project's progress, participant count, and the total VIRTUAL tokens raised.

Overall, the Genesis Launch platform hasn't reached a significant FOMO phase yet, with noticeable variations in project quality and popularity. Odaily Planet Daily advises participants to thoroughly review project fundamentals before joining, particularly when considering secondary market purchases.

  Upcoming IPO projects preview

  Summary

Compared to other trending framework-based AI Agent projects like ai16z's auto.fun and Swarms' Launchpad, Virtuals' Genesis initial offering mechanism stands out significantly in both market performance and community engagement. Featuring a distinctive points system and a comparatively equitable distribution model, Genesis Launch has emerged as a frontrunner in the AI Agent space. This momentum, amplified by the robust performance of the VIRTUAL token, has propelled the entire ecosystem into a growth phase.

However, based on the current project completion rates and secondary market performance, the "wealth creation effect" of new listings hasn't fully taken off yet. Genesis seems to be in its early cold-start phase. While multiple projects have achieved oversubscription, most remain at relatively low market caps, with no breakout "golden dogs" emerging so far. Whether Genesis can truly become the AI Agent sector's next "Pump.fun" will depend on more hit projects launching and a surge in community enthusiasm.