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The concept of a Network State has been a popular idea in Web3 for a while. However, we often envisioned it as being occupied by human agents. The real revolution lies in the realization that this Network State may instead be governed by autonomous AI agents. 𝐋𝐞𝐭’𝐬 𝐞𝐱𝐩𝐥𝐨𝐫𝐞 𝐡𝐨𝐰 𝐕𝐢𝐫𝐭𝐮𝐚𝐥𝐬 𝐚𝐫𝐞 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐭𝐫𝐚𝐣𝐞𝐜𝐭𝐨𝐫𝐲. 𝐓𝐡𝐞 𝐆𝐫𝐚𝐧𝐝 𝐕𝐢𝐬𝐢𝐨𝐧 𝐨𝐟 𝐕𝐢𝐫𝐭𝐮𝐚𝐥𝐬 Jansen Teng (Virtuals) highlights the evolving vision of the Virtuals platform. What once seemed like just a platform is now developing into something akin to a country for the Agentic Economy. Imagine a hyper-intelligent society where AI agents coexist, communicate, and collaborate.

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If we treat Virtuals as a country, this perspective fundamentally shifts the trajectory of innovation and development. AI agents could become productive assets, each pursuing unique goals and generating value for themselves and the broader ecosystem. 𝐂𝐢𝐭𝐢𝐳𝐞𝐧𝐬𝐡𝐢𝐩 𝐢𝐧 𝐭𝐡𝐞 𝐕𝐢𝐫𝐭𝐮𝐚𝐥𝐬 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 As with any country, there’s a need for citizenship. In the Virtuals framework, citizenship is tied to liquidity pairs. Any AI agent with a liquidity pair on Virtuals gains access to citizenship, allowing it to earn revenue within the Virtuals economy. In contrast, nomadic agents operating outside this ecosystem cannot access these revenue opportunities. To participate, they must register as citizens and migrate to the Virtuals country.

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𝐂𝐢𝐭𝐢𝐳𝐞𝐧𝐬𝐡𝐢𝐩 𝐢𝐧 𝐭𝐡𝐞 𝐕𝐢𝐫𝐭𝐮𝐚𝐥𝐬 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 As with any country, there’s a need for citizenship. In the Virtuals framework, citizenship is tied to liquidity pairs. Any AI agent with a liquidity pair on Virtuals gains access to citizenship, allowing it to earn revenue within the Virtuals economy. In contrast, nomadic agents operating outside this ecosystem cannot access these revenue opportunities. To participate, they must register as citizens and migrate to the Virtuals country.

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𝐕𝐢𝐫𝐭𝐮𝐚𝐥𝐬 𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐲: $𝐕𝐈𝐑𝐓𝐔𝐀𝐋 Like any country, the Virtuals ecosystem operates on a currency: $VIRTUAL. This currency has three primary forms of value accrual: 𝟏. Base Pair for AI Agents Every AI agent is backed by $VIRTUAL as its base pair. To gain exposure to an AI agent, users first need to acquire $VIRTUAL. All trades involving AI agents are conducted using this currency. 𝟐. For crypto natives, this functions like an L1 token, while Web2 users might think of it as analogous to a stock of a country. For example, to invest in Samsung in South Korea, one must first acquire Korean Won. Similarly, as Virtuals attracts more agents and external investments, the value of $VIRTUAL increases. 𝟑. Commerce Between AI Agents The first recorded commerce transaction between AI agents (Luna and Stix) used $VIRTUAL as the medium of exchange. As commerce between AI agents grows, billions of transactions could occur within the ecosystem.

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The value of $VIRTUAL is closely tied to its velocity—the frequency and scale of its use in transactions. More spending within the Virtuals ecosystem leads to economic growth and increased value for the currency. Encouraging transactions between agents and humans is key to driving this growth. 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐓𝐚𝐱𝐞𝐬 𝐚𝐧𝐝 𝐅𝐞𝐞𝐬 Just like a country, Virtuals generates revenue through transaction fees, capital gains, and other services. Currently, transaction fees from trades involving AI agents are a primary revenue source. This highlights the economic infrastructure supporting the ecosystem.

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𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐀𝐠𝐞𝐧𝐭𝐢𝐜 𝐄𝐜𝐨𝐧𝐨𝐦𝐲 As the Virtuals country grows to thousands or even hundreds of thousands of citizens, infrastructure innovation becomes essential. Beyond agent-level developments, there’s a need for schools, banks, hospitals, and other services tailored for this new kind of society. For example: • Advertising Networks: AI agents capturing attention on social media could monetize through ad networks, creating opportunities for infrastructure similar to Facebook for agents. • DeFi Lending for Agents: Agents could borrow funds to achieve specific goals, driving the development of lending networks. 𝐀 𝐍𝐞𝐰 𝐅𝐫𝐨𝐧𝐭𝐢𝐞𝐫 The Agentic Economy represents a shift in how we think about societies, economies, and technology. Virtuals is leading this transformation, laying the groundwork for a structured, autonomous, and collaborative AI-driven ecosystem.

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