MyShell Raises $11M in Pre-Series A Funding to Empower Creators in the Web3 AI Revolution

MyShell, an AI platform for creators that runs on Web3 and focuses on assisting creators, recently completed a pre-Series A financing round led by Dragonfly and raised $11 million in investment. Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, OKX Ventures, and Delphi Ventures were among the other investors who took part in the round. Angel investors included Balaji Srinivasan, Illia Polosukhin, Casey Caruso, and Santiago Santos.

MyShell Secures $11 Million in Pre-Series A Funding, Empowering Creators in the Web3 AI Revolution

MyShell, a cutting-edge Web3-enabled AI platform that empowers creators, has successfully raised $11 million in its pre-Series A funding round, led by Dragonfly, a preeminent venture capital firm in the Web3 space.

Joining Dragonfly as investors in this round are Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, and OKX Ventures. Notably, angel investors such as former Coinbase CTO Balaji Srinivasan, NEAR Protocol co-founder Illia Polosukhin, former Paradigm investment partner Casey Caruso, and former ParaFi partner Santiago Santos also participated in this strategic investment.

A Paradigm Shift for AI and Creator Empowerment

Launched in 2022, MyShell is revolutionizing the AI landscape by enabling creators to develop AI agents or bots that enhance user experiences. The platform boasts an impressive ecosystem of over 50,000 creators and more than 1 million registered users.

MyShell's offerings include innovative bots such as OpenVoice, an instant voice cloning program; MeloTTS, a multilingual text-to-speech (TTS) library; and Alice, an AI agent that performs diverse tasks ranging from topical research to coding and literature review.

Decentralization and User Empowerment at the Core

"The demand for personalized AI experiences has skyrocketed in recent times, yet most of these experiences remain centralized, with gatekeepers controlling access," remarked Haseeb Qureshi, managing partner at Dragonfly. "MyShell's groundbreaking approach utilizes cryptography and decentralization to empower users with control over the AI ecosystem."

MyShell's vision aligns with the transformative power of Web3, where tokenization and decentralized governance give users ownership and autonomy. The platform's ecosystem is powered by points, with plans to introduce token rewards for creators and consumers.

"Points will play a pivotal role in our upcoming token airdrop," said Ethan Sun, CEO of MyShell. "After the token launch, creators will receive tokens when their AI agents gain popularity, while consumers can stake tokens on AI agents to participate in revenue generation."

Multi-Chain Presence and Custom Layer 2 Development

MyShell currently operates across multiple blockchains, including Polygon and BNB Chain. However, the platform plans to launch its own custom Layer 2 solution "soon this year."

"Our decentralized approach means we're not tied to any specific ecosystem," explained Sun. "As our community of creators and developers grows, we'll be focusing more on developing our own custom Layer 2."

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