AI agent platform Virtuals Protocol expands to Solana

AI agents platform Virtuals Protocol is expanding to the Solana network. The platform announced this on X (formerly Twitter), noting that it is a major step in its journey to boost innovation across various ecosystems and empower builders.

The protocol, which is currently based on the Ethereum Layer-2 network Base, is one of the fastest-growing AI agent launchpads, with over 16,000 AI agents deployed already. It claimed it chose Solana because of network qualities that make it the ideal site to continue its growth.

It said:

Solana, known for its speed, scalability, and vibrant community, is the perfect place for us to grow and bring our vision to life.

Meanwhile, there has been plenty of excitement about the launch, especially from the Solana community. Helius Labs CEO and Solana bull poster Mert Mumtaz noted that launching on Solana is now like launching on the App Store.

However, some users believe the expansion to Solana could hurt Virtuals‘ activity on the Base network. They blame Coinbase leadership for refusing to list the VIRTUALS token on Coinbase.

This might not be the true state of things, as Virtuals contributor EtherMage noted that going multi-chain is part of Virtuals’ protocol vision. They explained that Solana is merely the first step, as the protocol is also working on expansions to other chains.

EtherMage added that Virtuals plans to work with stakeholders in every blockchain network it joins to ensure that the projects building within the Virtuals ecosystem get all the support they need in funding and promotions.

Virtuals believes Solana expansion will bring growth opportunities

Virtuals Protocol will launch a liquidity layer on Solana-based DeFi protocol Meteora as part of the expansion. Meteora‘s post about the development stated that it worked alongside Jupiter Exchange to bring Virtuals to Solana. LayerZero was also involved in the expansion.

The AI protocol also wants to create a strategic SOL reserve where 1% of all its trading fees will be converted to SOL for a reserve set aside to reward agents and creators in its ecosystem.

However, the expansion will not directly impact the project’s trading pairs. It will maintain its AGENT/VIRTUAL trading pair, which users already know about on Base.

In line with its expansion, Virtuals has planned several grants to encourage builders and creators across Solana and Base ecosystems. This includes its Venture Partner Model, through which it will distribute 42,000 VIRTUAL tokens as grants for early-stage builders on the two blockchains.

The AI agent launchpad will also host a Virtual AI hackathon in March in partnership with the Solana Foundation.

VIRTUAL and SOL tokens struggle despite expansion

Despite announcing an expansion to Solana, the VIRTUAL token is down almost 6% in the last 24 hours, continuing a trend that has seen it lose 13% of its value in the past seven days. Over the longer term, it has lost falling 46.21% of its value year to date. Its current value of $2.485 is more than 50% down from its peak price of $5.070, reached on January 5, 2025.

However, its decline is not unique, as almost all other AI agent coins are also down over the last 24 hours. The year-to-date decline could also be a sign the sector is experiencing a pullback. Per CoinMarketCap data, the sector has seen an average price change of 6.28% in the last 24 hours while its market cap is down 5.83%.

The general crypto market is not doing better either. SOL is down 5.74% today while maintaining its value above $250. Other major cap tokens, including BTC, ETH, XRP, and DOGE, have also endured price dips.

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