Market Times:

London: 3:26:08 PM

New York: 11:26:08 AM

Singapore: 11:26:08 PM


News

MyShell (SHELL) Surges 112% 24 Hours After TGE

Following SHELL’s launch, 30% of its total supply of one billion tokens were allocated to the MyShell community.

Avatar image of Mishael Nwani Mishael Nwani•February 14, 2025

Decentralized protocol MyShell attracted massive attention from investors just 24 hours after launching its native token, SHELL. As of this writing, the newly launched crypto asset has soared by over 112% to a trading price of about $0.5714. Many of these users are also interested in the project’s AI-powered features.

MyShell joins a list of blockchain projects that harness artificial intelligence (AI) to boost its presence in the digital asset market. Other examples include Story Protocol and Venice.ai.

What is MyShell?

Launched in April 2023, MyShell is a decentralized platform that bridges users, developers, and researchers. The project aims to make integration with artificial intelligence (AI) seamless. By connecting different elements of AI, MyShell allows users to discover, create, and stake AI-native applications. While at it, the platform downsizes the complexity often associated with AI development.

It also offers a user-friendly interface for building AI-powered apps and chatbots, allowing non-technical users to participate. MyShell’s ecosystem is constantly growing, making it an attractive hub for developers and AI enthusiasts looking for a supportive community and innovative tools.

Among the projects that have aided MyShell’s growth is Binance Labs, the investment arm of the leading crypto exchange. In August 2024, Binance Labs invested in the AI-powered project through its Incubation Program.

At the helm of MyShell’s operations are its features. An example is OpenVoice, an advanced voice cloning model that has caught the attention of many in the tech community. OpenVoice allows users to replicate a person’s voice using just a short audio clip. Its high level of control makes it stand out, as users can adjust speech elements such as emotion, accent, rhythm, and pauses to create lifelike voice reproductions. Additionally, it supports multiple languages, making it versatile for various applications like voice-over work, customer service bots, and more.

Another feature within the MyShell ecosystem is the Widget Center, which provides easy access to different AI models. Users can mix and match these models to build custom chatbots tailored to specific tasks.

SHELL Captures Massive Attention

Previously, MyShell used ShellCoin as its primary in-platform currency. During each season, users earn seasonal points, which are converted into ShellCoins at the end of the season. Additionally, MyShell introduced Patron Badges, which allow users to earn points to support their favorite AI bots and share in their growth and success. After SHELL’s token generation event (TGE), these ShellCoins were exchanged for SHELL tokens based on specific criteria.

At launch on February 13th, SHELL distributed 30% of its total supply of 1 billion tokens to the community. The development team added that 6% of the supply is earmarked for the Ethereum blockchain, while 1% goes to future campaigns and events.

SHELL’s popularity also soared due to its affiliation with Binance. Binance Wallet announced that 10 million SHELL tokens were airdropped to community members.

As of this writing, SHELL held a market capitalization of $128 million and a 24-hour traded volume of $106.4 million.

Mishael Nwani

Mishael Nwani is an avid crypto enthusiast with nearly four years of experience in the industry. Since 2022, he has covered topics across cryptocurrencies, NFTs, artificial intelligence, and financial markets.