Why are we investing in MyShell?

Source: Inception Capital

MyShell is an innovative project that integrates an AI application store, a creation platform and an economic incentive mechanism for creators. MyShell provides users with a convenient platform to use, create and invest in Agents based on various AI models. Users can easily create personalized AI Chatbots in just a few minutes by calling closed source models such as GPT-4 and Gemini Pro, as well as high-quality open source models such as Mixtral.

Industry status and challenges

In the past year, with the rapid development of AI technology, "AI + Crypto" has become one of the hottest topics today . A large number of projects that combine the advantages of both are emerging, attracting widespread attention and investment from both inside and outside the industry.

Current AI + Crypto projects are mainly divided into two categories:

1. Use Crypto to empower AI. This type of project uses the decentralized, cost-reducing and efficiency-increasing characteristics of blockchain to improve existing AI services, such as decentralized computing power, model reasoning, and data. Labeling etc. They usually provide AI services through the use of Crypto to compete differentiatedly. Starting from the long-tail demand, they firmly believe in the necessity of combining Crypto with AI.

2. Use AI to optimize Crypto products. This type of project is based on the prediction that AI will subvert all software, using AI's automation, scale, and intelligence capabilities to transform all aspects of Crypto products, such as on-chain agents, contract audits, intent transactions, and data analysis.

Although MyShell belongs to the former in terms of classification, its uniqueness lies in:

• MyShell does not just focus on niche needs when competing with similar AI products, but has the ability to compete head-on in the mainstream market

• By deeply integrating with Crypto, MyShell leads the development direction of the next generation creator economy and AI applications, opening up new possibilities.

The details are as follows:

1. Excellent C-end AI application experience< /p>

Among the many AI Chatbot creation platforms, MyShell stands out, providing the best product experience, the richest underlying model support, and the loosest audit standards. With the support of MyShell's self-developed MeloTTS and OpenVoice models, combined with other models on the platform, users can easily create various multi-modal characters on MyShell. These characters have their own voices and images. Some characters on the platform You can even have real-time video or voice calls with users.

At the same time, MyShell has always supported the open source community. Currently, MyShell's MeloTTS model and OpenVoice model have been completely open source on GitHub. OpenVoice has received more than 15K Stars due to its extremely low cost and excellent effects.

2. Careful Designed creator economic system

The creator economy was once an important narrative in Web3's pursuit of Mass Adoption, but related projects have become increasingly rare recently. This is mainly due to:

• High substitutability. Regardless of content platform or tool, Web2 has competing products with high availability, low cost, and stable audience

• The contradiction between short-term interests and long-term development. The Web3 platform needs to rely on asset issuance and wealth effects to attract early users, but the construction of high-quality communities requires stable long-term operations

MyShell attaches great importance to the long-termism of the creator community and designed A set of healthy economic model: users can obtain dividends by creating and investing in AI Agents within the platform. Early investors in Agents can obtain dividend rights at a lower cost, but cannot obtain income by reselling dividend rights. Those with dividend rights can only sell their equity in the future at the cost price.

This model restricts investors to only earn income through long-term dividends, but cannot earn profits through short-term FOMO to create large price changes. Therefore, this model not only uses dividends to encourage high-quality The output of content stimulates users' enthusiasm to discover early high-quality Agents and actively promote them, and also restricts a small number of users from destroying the stable atmosphere of the community by manipulating market prices.

With excellent creative tools and incentive mechanisms, MyShell will incubate a group of native creators with AI Agent as the main content form. They will grow together with the platform, provide unique content supply, and form a virtuous cycle.

3. New App Store in the AI ​​Era

In the past year, the amount of financing in the AI ​​field exceeded US$50 billion, but it was mainly focused on models and foundations At the facility level, the application layer is still in its early stages. Current AI applications generally face the following problems:

1. The model is the product. Iterations of AI products can easily be replaced by improvements in the capabilities of the underlying model

2. Competition from large companies. The past year was an excellent window for making money for AI Wrapper applications. However, as large companies in various fields began to access AI functions, AI Wrapper applications generally experienced reduced revenue or were acquired

3 . Ordinary users have low willingness to pay

4. GPT Store generally only serves to attract traffic and cannot provide commercialization possibilities for GPTs creators

But at the same time, we have also observed There are many AI products or mini-games around the world that have gained a lot of attention in a short period of time, but these products are limited by problems and cannot quickly monetize the traffic mentioned above. The observation behind this is that the lowered development threshold and new interaction methods brought by LLM provide the possibility of quickly developing new paradigms and new applications, but no new commercialization channels have emerged. Therefore, new technologies that should provide small teams with innovative soil have not been fully developed due to the slow iteration speed of commercialization paths.

To this end, MyShell will launch a new code-free development function for AI applications and combine it with the creator economy to try to solve this problem. Soon, MyShell users will be able to create their own AI applications on the platform without any coding knowledge. Currently, there is already a Speak-like language learning agent called PEPE Talk created by internal beta users on the platform. With the help of this feature and the incentive of the creator economy, we can expect more and more AI-native creators to liberate their creativity and earn income, instead of paying the cost of AI operation and only getting short-term attention. And there is no reward. If this model is successful, MyShell is expected to become the Steam + Product Hunt + Launchpad in the AI ​​era, building an ecological platform for developers, investors, and users to create a free and innovative ecosystem.

4. Excellent And the visionary team

The MyShell team is composed of a group of innovators who are passionate about AI and Web3. Not only do they have rich entrepreneurial experience, but they also have unique insights into the future of AI and Web3. The team accurately predicted and laid out the trends of open source models, multi-modality, and the integration of AI and Web3 as early as a year ago.

Under the leadership of Ethan and Rick, the MyShell team is leading the wave of cross-border integration of AI and Web3. On the one hand, it brings top AI product experience to users, and on the other hand, it provides the new generation of AI creators with An ideal growth platform to help the industry ecology prosper and develop.

We very much appreciate the MyShell team’s persistence in long-termism and its exploration and innovation of the possibilities of AI + Web3. We believe that MyShell will join hands with the community to create a prosperous and sustainable innovation ecosystem to benefit creation. authors and users.