Interpreting MyShell, the AI and Crypto Trailblazer: Leading the Revolution in AI Creation and Consumption
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Interpreting MyShell, the AI and Crypto Trailblazer: Leading the Revolution in AI Creation and Consumption
MyShell breaks the tech giants' monopoly on AI creation, offering a new, disruptive growth path for the AI Agent sector.
Navigating Web3 tides with focused insightsAuthor: Nan Zhi, Odaily Planet Daily
Introduction
In 2023, the new wave of AI revolution brought by OpenAI disrupted existing models across industries. In the Crypto space, we have also seen a continuous emergence and realization of related concepts and products, including decentralized computing power, data solutions leveraging Crypto characteristics, as well as products like Nansen AI that empower Crypto. However, when examining these products from the perspective of market and user demand, several fundamental issues remain unresolved:
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Narrow application scope: AI products are limited to the original business coverage of protocols, operating in small-scale niches without clear advantages over general-purpose AI;
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Limited iteration: Many protocols remain mere "skins" of tools like ChatGPT or MidJourney, constrained by the development capabilities of their teams, with minimal expandability;
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Insufficient incentives: Traditional industries lack incentive mechanisms for open-source AI creation, while Crypto-based products, although incorporating tokens as economic incentives, often determine reward values centrally rather than through market dynamics, thus suppressing productivity.
Since its inception in 2023, MyShell has been exploring ways to combine Crypto incentives to promote AI creation and adoption, building an open AI consumption layer where anyone can build and share their own AI applications—featuring horizontal infinite scalability and community-driven self-iteration. AI consumers gain access to high-quality applications, while the long-standing issue of missing open-source creation incentives is resolved, providing AI creators with transformative motivation for innovation and distribution.
The Killer Protocol for AI Creation: MyShell
MyShell enables creators to build various high-quality AI applications with extremely low barriers. Specifically, MyShell consists of four core modules: model layer, developer platform, AIpp Store, and incentive network. The first three encompass the entire process from foundational architecture and creator production to end-user consumption, while the incentive network seamlessly connects all three, closing the loop on the business model.
MyShell is no longer just a “tool” for AI creation. Through comprehensive integration across the full production-consumption pipeline, it has evolved into a complete, self-sustaining ecosystem—the birthplace of next-generation AI applications that revolutionize traditional production methods.
Model Layer
Models form the core architecture of AI applications. To date, MyShell has integrated over 300 open- and closed-source models and launched its proprietary LLM developed jointly with MIT’s Computer Science Lab—a self-developed LLM model that ranks among the top in comprehensiveness and technical expertise.
Broadly speaking, MyShell's model library extends beyond LLMs to include image, audio, and video models. At a finer level, image models are further categorized into processing, generation, and understanding domains. With this most comprehensive foundation model reserve, MyShell provides creators ample room to unleash their potential.
For users without programming experience, a componentized model marketplace ensures low-barrier construction of personal-use AI assistants—simply by integrating or repurposing popular components. Whether crafting text aligned with personal style or processing specific images, users can quickly assemble functionality using modular components.
Beyond integrating cutting-edge professional models, MyShell has repeatedly upgraded its in-house instant voice cloning technology OpenVoice this year, capable of replicating multi-functional voices from just a few seconds of audio at a cost only a fraction of standard commercial APIs. This model, co-developed with MIT and supported by multiple MIT promotions, highlights MyShell’s deep technical expertise and research strength.
Developer Platform
After accessing the most comprehensive base models, creators can use MyShell’s developer platform to turn imagination and technical skills into reality. For professional developers, the platform allows free combination of AI components to build powerful AI applications. By programming the basic units of AI apps—States and state transitions—it goes beyond simple Q&A bots to support advanced features such as drag-and-drop and rendering.
By enabling more complex and sophisticated interactions within AI applications, MyShell facilitates differentiated creation, delivering unique user experiences while expanding the boundaries of what developers can achieve.
AI LEGO: Modularity and Community-Driven Creation
What is the fundamental advantage of this component-based AI creation? It empowers communities with rapid, continuous creation and iteration capabilities. AI development is no longer monopolized by a few tech giants but becomes accessible to everyone. Once tooling limitations are removed, creativity and technical skill become the sole boundaries of innovation.
To illustrate, market demands are diverse and vary in depth, ultimately relying on developers to implement them. For example, a user may need an AI assistant to analyze crypto content on X, either assessing market sentiment or aggregating trending token keywords. While most generative AIs now offer web search functions, producing standardized, targeted analysis still requires extensive user tuning and may lack sufficient domain-specific knowledge.
With MyShell, users can leverage its web search component for information gathering, while output formats and elements are fully customizable by creators—who can even integrate specialized knowledge bases to meet professional needs.
This modular approach enables rapid construction and flexible adjustment of various AI bots, allowing key components to be swapped or upgraded based on specific user requirements.
Looking back at legacy AI projects like Fetch.ai’s DeltaV, product development and updates rely entirely on project teams, often resulting in slow iteration and limited assurance of usability and professionalism. Meanwhile, niche AI applications—even those technically strong in their categories—may fail to gain traction due to insufficient exposure or marketing, eventually fading into obscurity.
Modular development simultaneously raises both the floor and ceiling of product quality. Developers can always replace components with better-performing ones, ensuring reliability. Additionally, specialized teams across domains can join the MyShell platform, combining cutting-edge modules to exponentially raise the upper limit of AI applications built on MyShell.
As the responsibility for generating specific, high-quality outputs shifts from users to creators, how do we ensure developers maintain ongoing motivation to innovate and upgrade? This is a longstanding challenge in open-source communities—platforms like HuggingFace and GitHub allow models to be reused and commercialized, yet original authors rarely benefit directly.
MyShell addresses this by introducing native Crypto, market-driven incentive mechanisms that reward AI applications achieving true product-market fit (PMF), thereby closing the loop between creation and consumption within the ecosystem.
Incentives and Ecosystem Closure
Native Crypto AI Application Consumption: AIpp Store
MyShell has not yet launched a protocol token. Previously, it operated an off-chain points system called Shell Coin to incentivize users to hold, interact with, and promote valuable AI applications, rewarding them with points in return.
Last Friday, MyShell announced the launch of a native Crypto AI application trading system—AIpp Store—introducing cryptocurrency to economically incentivize the discovery of early-stage valuable projects, encourage dissemination and long-term holding, and provide creators with clearer, more direct feedback based on their work quality.
The AIpp Store allows users to package their bots as tradable “AIpps” on-chain, followed by private and public sales. In its initial version, only creators who have built at least one public bot and hold a Creator NFT at level 50 or above can mint an AIpp.
During the private sale, pricing follows a bonding curve, rising steeply as purchase volume increases. Initially, only MySoul NFT holders can participate in the private sale, with a cap of 5 shares per address. The private sale ends after 30 shares are sold or after three days, whichever comes first, transitioning into the public sale phase. Public trading continues on the MyShell platform under the same bonding curve mechanism, aiming to keep user focus on the AI app’s information, functionality, and other critical data, further protecting creator rights.
Each transaction incurs a 5% fee, primarily distributed to creators, with the remainder allocated to platform maintenance and development. Creators earn Creator Points and Sponsor Points in the new points system, while buyers in private or public sales receive Sponsor Points.
The AIpp Store uses bonding curves to incentivize users to discover high-potential early-stage applications—the earlier and more accurately they identify value, the greater their economic return. It also promotes fair pricing, as buyers become distribution nodes, spreading awareness of the applications they’ve discovered, leading to balanced and justified market valuations through trading activity.
For creators, this marks the first time they receive direct cash flow incentives beyond point-based rewards. The sharply rising value curve encourages them to build AI applications that serve broad user needs and align closely with market demand, earning greater returns by expanding overall value. In summary, the AIpp Store injects Crypto’s signature attention economy into the AI market, emphasizing product-market fit and accelerating market dynamics. Only high-quality creations gain visibility, reinforcing their position through price feedback loops, while neglected applications fade away—maintaining overall ecosystem vitality and content quality.
Breaking Barriers Between Crypto and AI Incentive Systems
Beyond transaction fees and point rewards, according to prior announcements from MyShell, future enhancements will include additional revenue streams for creators—such as usage rewards for open-source models uploaded and hosted on the platform, and task-based incentives for developing new models, pre-training, fine-tuning, or even data labeling.
Once a native token is introduced, this system will reach a new level. MyShell is not limited to the $3 trillion crypto market but targets a global user base orders of magnitude larger. The AI wave is far from over—businesses across sectors and individuals in daily life alike continue to demand transformative AI applications.
With MyShell’s robust infrastructure in place, the introduction of a token economy will mark a pivotal step forward—for both MyShell and the broader Crypto industry. Creators’ incentives will no longer depend solely on “others’ transactions,” but will also come from monetizing the usage rights of their AI applications, opening access to vastly larger markets. As disclosed by OpenAI’s Sam Altman, OpenAI achieved $3.4 billion in annual recurring revenue in the first half of the year, with 84% coming from paid subscriptions—surpassing the annual revenue of any single crypto protocol. As AI capabilities advance further, this market could grow by another order of magnitude.
Since launching the AIpp Store, dozens of AIpps have entered public trading, reaching a total market cap in the millions of dollars. Applications span diverse categories—from role-playing games (RPGs) to PPT assistants, fitness planners, and fortune-telling tools. Top applications have seen over a hundred trades within half a day, demonstrating Crypto’s strong ability to enhance liquidity.
Once this system fully opens, whether it’s making high-cost, high-barrier applications like Sora mainstream or pushing performance boundaries further—such as breaking records in ultra-long text input—if a creator develops a universally impactful AI application, professionals and capital from related fields are likely to flood in, injecting massive financial resources into the ecosystem. The convergence of massive external user and capital bases with Crypto’s liquidity amplification capability will ignite the flywheel of ecosystem growth, establishing a sustainable cycle of AI innovation and expansion, while advancing the vision of Crypto mass adoption.
Team Overview
The MyShell team brings over a decade of experience in the AI industry, uniting top talent from institutions like MIT and Princeton, and leading tech companies such as Microsoft and Google DeepMind. The project has completed two funding rounds:
In March 2024, MyShell announced an $11 million Pre-A round led by Dragonfly, with participation from Delphi Ventures, Bankless Ventures, Maven 11 Capital, Nascent, Foresight Ventures, GSR, Animoca Ventures, Nomad Capital, OKX Ventures, and prominent angel investors including Balaji Srinivasan, Illia Polosukhin, Casey K. Caruso, and Santiago Santos.
In October 2023, MyShell closed a $5.6 million seed round at a $57 million valuation, led by INCE Capital, with participation from Hashkey Capital, Folius Ventures, and SevenX Ventures.
Conclusion
MyShell provides AI creators with rich and deep creation tools through its model layer and developer platform, effectively incentivizes them via Crypto-native mechanisms, and organically integrates the creation and consumption processes of creators and users. As the ecosystem matures, the two-sided network effect will grow stronger, forming a durable moat for MyShell.
MyShell is more than just an AI product—it is an ecosystem designed to foster continuous AI innovation and growth. By empowering a global community of creators, MyShell’s revolutionary impact on AI creation and consumption has the potential to drive a new wave of growth for both AI and Crypto.
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