MyShell

About MyShell

MyShell operates as a decentralized consumer layer for artificial intelligence, designed to connect AI agent creators, consumers, and open-source researchers. The company was founded in April 2023 by Ethan Sun, Charles Z Qin, and Rick Lin, who possess backgrounds in AI, robotics, and speech algorithm research from institutions like MIT and Oxford. Sun, the CEO, previously founded Auto3D, a VR scanning startup acquired by Ke Holdings, and held technical roles at Aibee Inc.

The platform's core offering allows creators, regardless of their coding expertise, to build, share, and monetize AI-native applications. MyShell provides a suite of tools that support both proprietary models, such as GPT, and open-source alternatives. A key product is ShellAgent, which enables the creation of AI apps through natural language prompts and integrates on-chain and social media capabilities. The ecosystem also features proprietary open-source models like OpenVoice for voice cloning and MeloTTS for multilingual text-to-speech.

The business model is centered around a creator economy, leveraging Web3 and blockchain technology to ensure fair value distribution. Revenue and incentives are managed through its native token, $SHELL. Creators are rewarded with tokens when their AI agents gain user traction, and consumers can stake tokens on these agents to generate income. The company utilizes a multi-chain approach, currently operating on Polygon and opBNB, with plans to launch its own Layer 2 network. This structure is designed to democratize AI development, allowing creators to own their creations and users to benefit from their contributions, a direct response to the perceived centralization and restrictive nature of closed-source AI ecosystems.

MyShell has secured significant financial backing, raising a total of $16.6 million across several funding rounds. This includes a $5.6 million seed round in October 2023, which valued the company at $57 million, and an $11 million pre-Series A round in March 2024 led by Dragonfly. Notable investors include Binance Labs, INCE Capital, Delphi Ventures, and HashKey Capital, alongside angel investors like Balaji Srinivasan and Illia Polosukhin.