Binance Labs, the venture capital and incubation arm of Binance, has invested in MyShell, a decentralized AI ecosystem, as part of its Incubation Season 6 program.
MyShell aims to create an open and equitable ecosystem for AI creators, combining AI and blockchain to foster collaboration and innovation.
The investment underscores Binance Labs' commitment to supporting AI-driven consumer applications and the intersection of AI and cryptocurrency.
Binance Labs has announced its investment in MyShell, a decentralized AI ecosystem that empowers users to build, share, and own AI applications. This strategic investment was made through the Binance Labs Incubation Season 6, reflecting Binance Labs' ongoing commitment to advancing AI technology and its integration with the crypto space.
Launched in April 2023, MyShell is designed around the core philosophy of fostering an equitable creator ecosystem. The platform is built on four foundational pillars: an open-source model layer, an AI creator platform, an AI app store, and an incentive network. Together, these components aim to revolutionize traditional AI production by enabling open collaboration, providing accessible tools, and ensuring fair monetization opportunities for all participants.
Yi He, Co-Founder of Binance and Head of Binance Labs, highlighted the significance of this partnership: “Binance Labs recognizes the power of AI technology and has always wanted to support and back AI-powered consumer applications. We look forward to seeing MyShell develop a solid creator economy based on AI and crypto.”
Ethan Sun, Co-Founder of MyShell, expressed enthusiasm about the collaboration: “MyShell is building composable and multimodal AI primitives with real use cases and broader adoption. We're excited to build an open ecosystem that revolutionizes traditional AI production, and we're thrilled to have Binance Labs on board in realizing this vision.”
MyShell was selected as part of the Binance Labs Incubation Season 6, a program tailored to support early-stage Web3 projects. The incubation process provides startups like MyShell with the resources, mentorship, and support needed to scale and innovate in the rapidly evolving blockchain and AI sectors.
Applications for Binance Labs Incubation Season 7 are now open, inviting founders of early-stage Web3 projects to apply. More details about the program and the application process can be found on the Binance Labs website.
