In terms of volume, the world’s largest cryptocurrency exchange, Binance, is in the spotlight today with its investment arm. Through Binance Labs, the company supports promising startups at an early stage, and many investment announcements have been made in recent months. The latest project, like yesterday’s, is in the AI field.
Binance Breaking News
Binance Labs’ latest investment under Incubation Season 6 is the startup MyShell. These types of startups are very early-stage and have not yet issued tokens. Early investors receive returns similar to shares when tokens are issued at much more reasonable costs.
The announcement mentions that the decision was made because MyShell helps everyone create AI applications in a decentralized manner. Launched in April 2023, MyShell consists of four pillars: an open-source model layer, an app store, and an incentive network.
The one-year-old AI startup integrates hundreds of open-source projects and aims to bridge the gap between crypto and artificial intelligence. So far, over 2 million users have benefited from these services, and Binance co-founder Yi He wrote:
“Binance Labs is aware of the power of artificial intelligence technology and has always wanted to support AI-powered consumer applications. We are eager to see MyShell develop a robust creative economy based on AI and crypto.”
