Crypto-Native AI Platform imgnAI Raises $1.6 Million in Seed Funding
Crypto-native AI platform imgnAI has successfully closed a seed funding round, raising $1.6 million with Hack VC as the lead investor. Other participants in the funding round included Rana Capital, Selini Capital, West Ham Capital, Motus Capital, and dao5. The valuation of the platform was not disclosed.
Unlocking Premium Features and NFT Minting
imgnAI, which launched in late 2022, operates as an image-generation bot platform. Users can utilize the imgnAI crypto token to access premium features and mint images directly as NFTs. When tokens are used for these features, they are burned, thereby reducing the overall supply.
“imgnAI combines a user-friendly AI product with powerful tools, providing an enjoyable creative experience for artists of all levels,” stated Roshun Patel, a partner at Hack VC. “With additional crypto-native and social features, imgnAI is poised to capture attention at the intersection of art, crypto, and AI.”
Expansion Plans and Launch of “Naifu”
The recently raised funds will be allocated towards expanding imgnAI’s infrastructure capacity, accelerating product development, and enhancing marketing efforts. Additionally, the capital will support the launch of imgnAI’s “digital companion” product called “Naifu.” Naifu aims to offer high-performance text and image responses with greater creative freedom compared to traditional web2 alternatives.
“Our objective is to develop products that promote freedom and fun while attracting the next generation of crypto-native users,” said Thelema, co-founder and CEO of imgnAI.
Leveraging AI and Crypto Integration
imgnAI’s flagship image generation product, Nai, has gained significant traction, being installed in over 23,000 Telegram groups and 87,000 Discord servers. The platform boasts thousands of daily active users across its web app and other channels.
imgnAI is just one of many projects aiming to leverage the integration of AI and crypto. Another recent example is Bagel Network, a decentralized data platform that raised $3.1 million in a pre-seed round led by CoinFund.
Hot Take: imgnAI Sets Sights on the Intersection of Art, Crypto, and AI
Crypto-native AI platform imgnAI’s successful seed funding round signals growing interest in the convergence of art, crypto, and AI. With its user-friendly interface and powerful tools, imgnAI provides an enjoyable creative experience for artists of all skill levels. By combining crypto-native features and social elements, imgnAI aims to capture attention in this exciting space.
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