Original | Odaily Planet Daily ( @OdailyChina )
Author｜Nan Zhi ( @Assassin_Malvo )
introduction
In 2023, the new AI revolution brought by OpenAI has overturned the original models of various industries. In Crypto, we have also seen many related concepts and products emerging and landing. There are solutions that use the characteristics of Crypto to develop AI, such as decentralized computing power and data, and there are also products that empower Crypto, such as Nansen AI. However, from the perspective of market and user needs, there are still several key fundamental problems that need to be solved:
Narrow application scope : AI products are limited to the coverage of the original business of the protocol, the track scale is small , and there is no obvious advantage over general AI;
Limited iteration : There are still many protocols that are just skinned products such as ChatGPT and MidJourney. The iteration ability is limited by the development ability of the project party, and the scope of scalability is small ;
Insufficient incentives : Traditional industries lack incentives for open source AI creation. Although products developed in Crypto have tokens as economic incentives, the specific values of many product incentives are still determined by the project party rather than market regulation, which curbs the development of productivity .
Since its birth in 2013, MyShell has been exploring ways to promote AI creation and application by combining Crypto incentives, creating an open AI consumption layer that allows everyone to build and share their own AI applications, with the characteristics of unlimited horizontal expansion and community self-iteration and innovation. AI consumers have obtained high-quality applications, and the problem of lack of incentives for open source creation has been solved, and AI creators have gained subversive motivation for creation and promotion.
Killer protocol created by AI: MyShell
MyShell allows creators to create various high-quality AI applications with a very low threshold. Specifically, MyShell consists of four core modules: model layer, developer platform, AIpp store and incentive network. The first three modules cover the underlying architecture reserve of AI applications, the entire process from creator production to end-user consumption, and the incentive network organically connects the three to achieve a closed loop of the business model.
MyShell is no longer just a tool for AI creation. Through its layout in the entire chain of production and consumption, MyShell has become a complete and self-consistent ecological network , and the birthplace of AI applications that innovate traditional production methods.
Model Layer
Models are the core architecture of AI applications. As of now, MyShell has integrated more than 300 open source and closed source models, and has also launched its own LLM model jointly developed with the MIT Computer Science Laboratory. Both the comprehensiveness and professionalism of the model are among the best in the market.
From a broad category perspective, MyShells model library is not limited to LLM, but also includes images, audio, video, and other aspects. Further subdivided, for example, the image category can be divided into image processing, generation, understanding, and other fields. Through this most comprehensive reserve of underlying models, MyShell has prepared space for creators to fully utilize their capabilities.
For users without programming experience, the componentized model market ensures that they can build some AI assistants for personal use with a low threshold, and they only need to integrate or migrate popular components in the market. Whether it is text writing that meets personal style requirements or processing specific images, components can be used to quickly build and implement them.
In addition to integrating the most advanced professional models, MyShell has also upgraded its self-developed instant voice cloning method OpenVoice several times this year, which can replicate multi-functional voices in just a few seconds, at a cost of only a few tenths of that of ordinary commercial APIs. This model was also jointly developed by MyShell and MIT, and has received multiple publicity and promotion support from the latter, demonstrating MyShells deep professional background and technical capabilities.
Developer Platform
After obtaining the most complete basic model, creators can use MyShells developer platform to turn their imagination and technical capabilities into reality. For professional developers, this platform allows them to freely combine AI components to build powerful AI applications. Through the programming design of the basic unit of AI application State and state transfer, it is no longer limited to simple question-and-answer applications, and supports advanced functions such as dragging and rendering.
By providing AI applications with more complex and advanced interactive behaviors, differentiated creation of AI applications is achieved, which not only provides users with a unique experience, but also further broadens the creative boundaries of developers.
AI Lego: Modularity and community creation
So what are the fundamental advantages of this component-based AI creation? The answer is that it empowers the community to create and iterate quickly and continuously. AI development is no longer a monopoly of a few tech giants, but can be created and used by everyone. When tools are no longer limited, imagination and technical ability become the boundaries of creation .
Specifically, market demands are rich and varied, and the depth requirements vary, and ultimately it is up to developers to implement them. For example, a user needs an AI assistant that analyzes crypto content on platform X, or analyzes market sentiment, or integrates popular token keywords. Although most generative AIs already have online search capabilities, it still requires users to debug for a long time to output standard, specific analysis content, and there may be a lack of expertise in the crypto field.
With MyShell, users can collect information through its online search component, and the output method and elements are customized by the creator. They can even go further and configure a professional knowledge base to meet the users professional needs.
Through this modular construction method, various types of AI robots can be quickly built and flexibly adjusted , and key parts can be replaced and upgraded according to the specific needs of users.
Looking back at some old AI projects, such as single products such as DeltaV developed by Fetch.ai, product development and updates are carried out by the project party, which is often lacking in update speed, and the product availability and professionalism are limited. On the other hand, some small and beautiful AI applications, even if the technology and effects are relatively high-quality in the subdivided track, may not be fully explored in the market due to insufficient platform exposure and publicity, and eventually die out.
The component-based development model improves both the lower and upper limits of the product. Developers can replace the best and best running components at any time to ensure the availability of the application. At the same time, professional teams of all types can join the MyShell platform to couple cutting-edge components, which can exponentially improve the upper limit of AI applications created on MyShell.
The responsibility for creating outputs of specific standards has shifted from users to creators, so how can we ensure that developers have a sustained motivation to create and upgrade AI applications ? This is also a long-standing problem that has plagued the open source community. Models on major platforms such as HuggingFace and GitHub can be used and commercialized by others, but the original authors usually cannot benefit from them.
In response to this, MyShell introduced a Crypto-native, market-self-regulated incentive mechanism to reward AI applications that effectively implement PMF, thereby closing the loop of product creation and user consumption logic in the ecosystem.
Incentives and ecological closed loop
Crypto native AI application consumption: AIpp Store
MyShell has not yet launched a protocol token. It has implemented an incentive model for point investment based on the off-chain points Shell Coin, encouraging users to hold, interact and promote valuable AI applications and obtain point rewards in the process.
Last Friday, MyShell announced the launch of an AI application trading system in a Crypto-native way, introducing cryptocurrency for the first time. It is called AIpp Store, which aims to promote the process of users discovering early valuable projects in an economic form, and encourage the dissemination of valuable projects and long-term holders. Creators can also get more direct and clear feedback based on the quality of their creations.
AIpp Store allows users to package their robots into AIpp that can be traded on the chain, and then conduct pre-sales and public sales in sequence. In the first version of AIpp Store, only creator NFT holders who have created at least one public robot and reached level 50 can package AIpp.
During the pre-sale phase, the price will be calculated according to the bonding curve, and will rise steeply as the number of purchases increases. In the first version, only MySoul NFT holders can participate in the pre-sale, and each address is limited to purchasing 5 shares. The pre-sale will end after 30 shares are purchased or after three days and enter the public sale phase. Transactions during the public sale phase will also be maintained on the MyShell platform according to the bonding curve, aiming to keep users attention to the information, functions and other important data of the AI application itself, so as to further protect the rights of creators.
Each transaction will have a 5% transaction fee, which will be mainly distributed to creators, and the rest will be used for platform maintenance and development. Creators will receive creator points and sponsorship points in the new point system, while buyers of pre-sales or public sales will receive sponsorship points.
AIpp Store encourages users to explore early valuable applications through bonding curve . The higher the application potential, the earlier the user discovers it, and the higher the economic benefits. At the same time, this also promotes the pricing process of the project , because after purchasing, users will serve as dissemination nodes to output the application value they have discovered to other communities, balancing and ultimately settling on its reasonable market value in transactions.
For creators, they have received cash flow incentives for the first time in addition to the original points incentives. The steeply rising value curve encourages creators to create AI applications that meet the needs of the general public and are most suitable for the market, and to win more profits by expanding the value base. In summary, AIpp Store injects Cryptos most distinctive attention economy into the AI market, emphasizes the fit between AI applications and the market, and accelerates the market game process . Only high-quality creations can get attention and strengthen their status through positive feedback from prices, while AI applications that are ignored for various reasons will be eliminated, ultimately maintaining the overall activity and content quality of the ecosystem .
Breaking the Crypto and AI Incentive System
In addition to transaction fees and point rewards, MyShell previously reported that more creative income will be added for creators in the future, including rewards for the use of open source models uploaded and hosted by creators on the platform, as well as development task incentives such as building new models, pre-training, fine-tuning, and even data labeling.
After the introduction of native token incentives in the future, this system will reach new heights. MyShell applications are facing not only the three trillion crypto market, but also global users and markets that are ten or a hundred times larger . The wave of AI technology is far from over. Whether it is companies in various industries or users daily lives, they still need various AI applications that bring disruptive productivity.
After MyShell has improved the underlying infrastructure, the injection of the token economy system will enable it and the Crypto industry to take a key step forward. Creators are no longer motivated only by other peoples transaction processes, but can profit by selling the right to use AI applications, and the market size is incomparable. According to Sam Altman of OpenAI, OpenAIs annual recurring revenue in the first half of the year reached US$3.4 billion, of which 84% came from subscriptions from paying users, far exceeding the annualized revenue of any crypto protocol. And with the further upgrading of AI functions, this market size is expected to achieve another leap in magnitude.
After MyShell opened the AIpp store, dozens of AIpps have entered the public trading stage, with a total market value of millions of US dollars. There are many types of AIpps, including role-playing games (RPG), PPT assistants, fitness planning, fortune-telling and other applications. The number of transactions of the top applications exceeded hundreds in half a day, showing the ability of Crypto to promote and improve liquidity .
When this system is implemented and opened, whether it is to regularize high-cost and high-threshold applications such as Sora, or to further improve the performance of regular applications such as breaking through the upper limit of ultra-long text input again, once a creator develops a universal disruptive application, people and funds from related industries are expected to pour in, injecting a large amount of capital foundation into the ecosystem. The huge number of users and capital foundation outside the circle multiplied by the liquidity growth ability of Crypto will become the starting point of the ecological growth flywheel, while building an ecosystem for continuous innovation and growth of AI, realizing the vision of Crypto Mass Adoption.
team introduction
The MyShell team has more than ten years of experience in the AI industry, and has brought together leading talents from universities such as MIT and Princeton, as well as leading technology companies such as Microsoft and Google DeepMind. The project has completed two rounds of financing, namely:
In March 24, MyShell announced the completion of US$11 million in Pre-A financing , led by Dragonfly, with participation from Delphi Ventures, Bankless Ventures, Maven 11 Capital, Nascent, Foresight Ventures, GSR, Animoca Ventures, Nomad Capital and OKX Ventures, as well as many well-known angel investors such as Balaji Srinivasan, Illia Polosukhin, Casey K. Caruso, Santiago Santos, etc.
In October 2023, MyShell announced that it had completed a $5.6 million seed round of financing with a valuation of $57 million . This round of financing was led by INCE Capital, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures and others.
in conclusion
MyShell provides AI creators with rich and in-depth AI creation tools through the model layer and developer platform, and effectively incentivizes creators through Crypto, organically integrating the creation and consumption process of creators and users. With the gradual development of the ecosystem, the bilateral network effect will become increasingly powerful and eventually become the moat of MyShell.
MyShell is not only an AI product, but also an ecosystem that fosters continuous innovation and growth in AI. MyShell will empower the global creator community, bring innovations to AI creation and consumption, and is expected to bring a new wave of growth to AI and Crypto.
