MyShell Raises $5.6 Million in Seed Funding
MyShell, an AI platform built on opBNB, has successfully secured $5.6 million in a seed funding round. The investment was led by INCE Capital, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures, OP Crypto, and other contributors. According to co-founder Ethan Sun, this funding round, which included equity with token warrants, has brought MyShell’s valuation to $57 million.
Prior to this seed funding round, MyShell had raised $200,000 in a pre-seed round from friends and members of the crypto community earlier in the year.
What is MyShell?
MyShell is a web3-enabled AI platform that allows users to create personalized chatbots known as “Shells.” The platform caters to both content creators and consumers. Creators have the ability to generate AI content bots, while consumers can discover and utilize these bots.
In terms of its web3 integration, MyShell offers token rewards for both creators and consumers. Creators earn MyShell’s native token when their content bots gain traction, while consumers can stake tokens on AI bots and generate income.
Since its launch in May, MyShell has attracted over 30,000 creators and amassed more than 400,000 users. The platform aims to foster a creator ecosystem on the blockchain by addressing issues such as lack of transparency, centralization, and misaligned incentives in the current AI landscape.
Migrating to opBNB
Although some features are currently available on Polygon, MyShell plans to transition its platform to opBNB. opBNB is a Layer 2 network on the BNB Chain that leverages Optimism’s OP Stack or Optimistic rollups technology, according to Sun.
The MyShell team consists of 25 individuals, including co-founders Rick Lin and Charles Qin. Lin possesses over a decade of AI product development experience, while Qin holds a Ph.D. from MIT. Sun himself previously worked for China-based AI unicorn Aibee.
Hot Take: Empowering Creators and Consumers in the AI Landscape
MyShell’s successful seed funding round highlights the growing interest in web3-enabled AI platforms. By offering personalized chatbots and token rewards for creators and consumers, MyShell aims to address the challenges of transparency, centralization, and incentives in the AI landscape. With its migration to opBNB, the platform is positioning itself for further growth and scalability. As more content creators and users join the ecosystem, MyShell has the potential to revolutionize how AI content is created, consumed, and monetized.
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