Understanding MyShell: Backed by Binance and OKX, a Decentralized AI Agent/App Creation Platform
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Understanding MyShell: Backed by Binance and OKX, a Decentralized AI Agent/App Creation Platform
Creators can build applications on MyShell and easily capture users.
Navigating Web3 tides with focused insightsAuthor: Yu Zhong Kuang Shui
What early-stage AI projects can you currently participate in?
io.net is a decentralized computing network. Users can participate in its early points campaign by contributing GPU computing power. However, for ordinary users, the barrier to large-scale participation remains relatively high.
Besides io.net, MyShell has a relatively lower entry barrier. The reason I’m paying attention to it is simple—MyShell was selected into Binance Labs’ sixth-season global incubation program, and OKX Ventures mentioned in their investment monthly report that they have already invested in MyShell. Additionally, MyShell has joined NVIDIA Inception, advancing open-source AI development and empowering creator communities.
Next, let me briefly introduce the MyShell project.
Simply put, MyShell is a fair and open-source AI ecosystem—an AI agent/app creation platform encompassing numerous open- and closed-source AI models. Creators can build applications here and easily capture users. From the perspective of users and creators, the platform feels like a customizable private AI service—creators earn incentives by providing AI-related applications, while users are rewarded for using these apps. Currently, the most popular applications on MyShell are various AI bots, such as chatbots and content-generation bots.
Advantages
MyShell’s strengths lie in three key areas:
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Strong technical capabilities: MyShell has launched multiple self-developed open-source AI models. Their GitHub has published 3 models with nearly 20K stars. Among all the AI projects I’ve seen, MyShell is the first Web3 project to release self-developed open-source AI models, demonstrating solid technical foundations.
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Open creator economy: Creators can easily invoke both MyShell-provided and third-party models for creation, significantly lowering the barriers to entry.
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Robust ecosystem incentive system: MyShell aims to provide rewards to creators and users proportional to their contributions (users → data, creators → apps). Beyond creators and users, model providers and investors in creator AI apps can also receive corresponding incentives.
For more details on MyShell’s points system, see this article: Decoding MyShell’s Badge System: A Leading Practice in AI and Web3 Creator Economy
How to Participate?
https://app.myshell.ai/zh/rewards-center
Visit the Rewards Center after opening the link, complete the designated tasks, and earn points accordingly.
Additional Notes
MyShell has well-established infrastructure, offering creators a feature-rich app store. Through the store, creators can publish and manage their AI applications, while users can easily discover AI apps matching their needs. Under the current points incentive program, MyShell has surpassed one million registered users, with over 50,000 core AI Agent creators.
Notably, MyShell champions AI democratization. In simple terms, it ensures neither users nor creators are limited to fixed AI models—they can freely choose among different models.
Currently, MyShell has become the primary use case for collaboration between Story Protocol—the programmable IP layer (led by a16z, raised $54M)—and Ritual, the AI execution layer. As reported by TechFlow News: “Developers can register AI models as intellectual property on Story Protocol, enabling scalable licensing and new revenue models. The partnership between Story and Ritual aims to build powerful tools supporting inference proofs and digital watermarking, ensuring traceability and provenance of model-generated content. The first joint use case is with MyShell, running MyShell AI models on Ritual’s infrastructure and registering them as IP assets on Story Protocol.”
Narrative: AI + Content Creation
Many people intuitively understand MyShell as a platform for AI voice bots (including many information platforms describing it this way), but from a Web3 perspective, MyShell is actually an underlying AI model infrastructure. It uses incentives to attract user participation at the application layer, where the app store functions more like a launchpad, helping creators build their own apps and issue tokens.
Team Background
MyShell co-founders Rick and Ethan each have over 10 years of deep expertise in AI, with extensive experience in artificial intelligence product development and market operations. Both previously held leadership roles at AI unicorn companies. Team members primarily come from universities including MIT, Princeton, and Oxford.
Funding
MyShell raised $5.6 million at a $57 million valuation, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures, and others.
Overall, MyShell ranks as a Tier-1 project in terms of narrative (AI) and backing (investors + Binance Labs incubation). Moreover, MyShell is often mentioned alongside io.net—a project valued at $1 billion. In conclusion, I believe MyShell is a project worth sustained attention and active participation.
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