MyShell AI Platform Rockets to $57 Million Valuation with Impressive Fundraising

Key Points:

• MyShell secures $5.6 million in seed round, raising valuation to $57 million.
• MyShell’s web3-enabled platform attracts over 400,000 users.
• MyShell aims to reshape the AI landscape with token-based rewards.

OpBNB-based platform MyShell AI has successfully secured $5.6 million in a significant seed funding round, signaling strong investor confidence in its trajectory.

Leading the round is INCE Capital, with prominent participation from Hashkey Capital, Folius Ventures, SevenX Ventures, OP Crypto, and other key players in the crypto space, according to an official announcement made by MyShell on Monday.

This milestone funding round, comprising an equity with token warrants structure, has propelled MyShell’s valuation to an impressive $57 million, as highlighted by co-founder Ethan Sun.

MyShell’s Transition from Polygon to opBNB Network

Established as a web3-enabled AI platform, MyShell AI empowers users to develop customized chatbots, referred to as “Shells.” Targeting both content creators and consumers, the platform offers a dual benefit. Content creators can generate AI-driven content bots, while consumers can easily access and utilize these bots.

With a focus on integrating web3 elements, MyShell AI has outlined plans to introduce token-based rewards for both creators and consumers. In this model, creators are set to receive the platform’s native token based on the traction gained by their content bots, while consumers can stake tokens on the AI bots to generate income, Sun explained.

Since its launch in May, MyShell AI has experienced notable traction, boasting a user base of over 30,000 creators and more than 400,000 users. The platform’s core mission revolves around fostering a creator-centric ecosystem on the blockchain, aiming to address current challenges within the AI landscape such as centralization, lack of transparency, and misaligned incentives.

MyShell AI is gearing up for a transition from Polygon to opBNB, a Layer 2 network built on the BNB Chain utilizing Optimism’s OP Stack or Optimistic rollups technology, Sun revealed.

With a dedicated team of 25 professionals, including co-founders Rick Lin and Charles Qin, who boast extensive expertise in AI product development and academic prowess from prestigious institutions like MIT, MyShell remains steadfast in its commitment to revolutionizing the AI landscape and promoting a fair and transparent ecosystem for creators and users alike.

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