BNB’s Affiliated AI Platform MyShell Conducts IDO at Extremely Low Valuation, Surpassing Fundraising Target by 50 Times in Just Six Hours; Is There Still Time to Get Onboard?
After CZ Zhao Changpeng’s strong endorsement of BNB Chain, the BNB ecosystem has seen widespread growth, with the decentralized exchange Pancake experiencing a daily increase of nearly 80%. Meanwhile, YZi Labs, which invested in the AI agency platform MyShell during the Binance Labs period, has seized the opportunity and announced on the 12th that it had conducted an airdrop snapshot. Today, it announced the IDO on PancakeSwap, set to open at 10 PM Taiwan time on the 13th. Is this IDO worth participating in? This article will analyze the investment opportunities in MyShell.
Is MyShell’s token issuance well-prepared and benefiting from favorable conditions?
On the 12th, MyShell’s official announcement of the airdrop snapshot has led the community to eagerly anticipate the token issuance timeline. At the same time, BNB Chain has attracted market attention following CZ Zhao Changpeng’s repeated mentions of the test token $TST and its listing on Binance. On the 13th, MyShell announced the IDO on PancakeSwap.
MyShell is an AI agency platform built on BNB Chain. Unlike ai16z and Virtuals Protocol, MyShell not only has modular capabilities to create its own AI agency functions but also profits by investing in other people’s AI agencies.
In the seed round and Pre-A round, MyShell raised $16.5 million, although the investment amount from Binance Labs in August last year was undisclosed. However, the valuation during the seed round reached $57 million.
MyShell conducts its IDO at an extremely low valuation, raising 50 times in six hours.
In this IDO on PancakeSwap, MyShell is selling 40 million $SHELL tokens, accounting for 4% of the total supply. Each $SHELL token is priced at 0.00003175 $BNB, with a target to raise 1,270 $BNB. At the current price of approximately $700 per $BNB, this equates to a valuation of $22 million for the IDO. Compared to the seed round valuation of $57 million and the subsequent popularity of AI agency themes along with BNB Chain’s rise, this IDO seems to be well-prepared and benefiting from favorable conditions.
To participate in this IDO, one must use the Binance Web3 wallet, creating a non-custodial wallet that can be accessed via QR code login or mobile backup. Click on the MyShell exclusive TGE event in the marquee above. As of the time of writing, there are about 6 hours left to take action. Currently, 65,221 $BNB has been raised, surpassing the goal by 51 times, resulting in a refund process. Each transaction can only invest up to 3 $BNB.
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