Crypto AI platform imgnAI completed a $1.6 million seed round led by Hack VC

The encrypted AI platform imgnAI announced the completion of a US$1.6 million seed financing led by Hack VC, with participation from Rana Capital, Selini Capital, West Ham Capital, Motus Capital and dao5, but the specific valuation has not been disclosed. It is reported that the company's image-generating robot platform will be launched at the end of 2022, and the imgnAI cryptographic tokens on its website are used to unlock advanced features and directly mint images into NFTs. Tokens used for such functions will then be burned, reducing the total supply. The funding will be used to increase imgnAI's infrastructure capacity, accelerate product development and expand its marketing efforts, the project said. The project also intends to use the capital to support the launch of a "digital companion" product called "Naifu", which is designed to provide high-performance text and image responsiveness, allowing greater creative freedom compared to web2 alternatives.