Bankless · Monday, September 7, 2026
Austin Barack details his valuation model for the Venice token (VVV), which he believes is materially underpriced at a $1 billion FDV. His price target of $43.90 is based on projected revenue, credit purchases, and potential new business lines like the 'Minds' product, aiming to capture the token's value capture story.
“In my opinion, that Venice, it is my opinion that Venice's token is materially underpriced at $1 billion FDV. I think the price is a little bit higher now today, or actually quite a bit higher. Price target based on what I consider to be a realistic scenario is $43.90.”
“And then now you have to think about like, all right, so what does this mean for the token? And in June, or I guess maybe it was the very beginning of July, they raised an equity round or $1 billion valuation, equity and token to be clear. So alignment across both.”
“So from there, I just look at, you know, what's a reasonable multiple on earnings like a P ratio. And I think for a token, buybacks to market cap is a very reasonable way to think of an equivalent for a P ratio.”