Decentralized AI Platform MyShell Raises $5.6M Seed Funding for Creator Expansion
In an exciting development for the AI industry, MyShell, a decentralized platform for AI-native apps, has secured $5.6 million in seed funding. The investment is set to fuel the expansion of the platform’s creator ecosystem and the development of proprietary AI models.
Led by INCE Capital, the funding round saw participation from prestigious investors such as Folius Ventures, Hashkey Capital, SevenX Ventures, TSVC, and OP Crypto. With this financial backing, MyShell aims to empower users of all technical backgrounds to become super creators of AI-native applications.
MyShell is capitalizing on the advancements in Generative AI, which covers technologies like Large Language Models (LLM), Image Generation, and Voice Cloning. The platform’s mission is to not only unlock a wave of creativity but also facilitate the creation of groundbreaking applications across various domains.
What distinguishes MyShell from the current AI landscape is its commitment to decentralization, fair creator compensation, and user data privacy. The platform strives to foster an equitable creator ecosystem by democratizing access to cutting-edge Generative AI tools.
According to Ethan, Co-founder of MyShell, We’re paving the way for an unprecedented surge of innovative use cases by democratizing access to cutting-edge Generative AI tools and anchoring creator ownership and fair remuneration in a blockchain-empowered creator economy.
Since its establishment in April, MyShell has gained significant traction, boasting a community of over 400,000 users and more than 30,000 creators. This positions the platform as the largest AI community within the Web3 ecosystem. The team behind MyShell consists of seasoned entrepreneurs and distinguished AI researchers from renowned institutions such as MIT, Princeton, and Oxford.
The platform has already made significant strides in Voice Cloning/TTS, achieving state-of-the-art performance and cost efficiency through proprietary AI models. Moreover, MyShell is soon set to release specialized LLM models tailored for role-playing and character creation, further expanding its range of capabilities.
The $5.6 million seed funding represents a major milestone for MyShell and solidifies its position as a driving force in the AI industry. The investment will primarily be used to develop advanced AI models, create a Creator Studio for AI-native apps, and build a thriving creator ecosystem on the blockchain.
As the AI landscape continues to evolve, innovations like MyShell promise to revolutionize the way creators engage with AI technology. By empowering individuals to unleash their creative potential through user-friendly tools and ensuring fair compensation, MyShell is heralding a new era of AI-enabled applications.
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