TechFlow reports that crypto-native AI platform imgnAI has raised $1.6 million in a seed funding round led by Hack VC, with participation from Rana Capital, Selini Capital, West Ham Capital, Motus Capital, and dao5. The valuation was not disclosed. The funds will be used to enhance imgnAI's infrastructure capabilities, accelerate product development, and expand marketing efforts. Additionally, the company plans to use the capital to support the launch of its "digital companion" product called "Naifu," designed to deliver high-performance text and image responses with greater creative freedom compared to web2 alternatives.
The image generation bot platform launched at the end of 2022. Its native imgnAI cryptocurrency token unlocks premium features and enables direct minting of images as NFTs. Tokens used for these functions are subsequently burned, reducing the total supply.
