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Binance Labs, the investment firm of cryptocurrency exchange Binance, announced the new crypto project it invested in.
Binance Labs, Binance’s venture capital and incubation unit, announced that it invested in a project called MyShell as part of its 6th Incubation Season program. MyShell stands out as a decentralized AI ecosystem that aims to enable everyone to create, own, and share AI applications (AI Apps).
Launched in April 2023, MyShell is determined to create an equitable creator ecosystem. The platform’s four main components are defined as an open source model layer, an AI creator platform, an AI app store, and an incentive network. These components aim to facilitate open collaboration, accessible tools, and fair earning opportunities for all participants.
“At Binance Labs, we recognize the potential of AI technology and have always aimed to support AI-powered consumer applications,” said Yi He, Co-Founder of Binance and Head of Binance Labs. “We look forward to seeing MyShell develop a robust creator economy based on AI and cryptocurrencies.”
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Ethan Sun, Co-Founder of MyShell added: “We are excited to build an open ecosystem that will revolutionize traditional AI production and are pleased to have Binance Labs join us in realizing this vision.”
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