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

Odaily Planet Daily News Affected by the establishment of an artificial intelligence company by Elon Msuk, the small-cap AI tokens IMGNAI and OPTIMUS rose by 17% and 14% in 24 hours, respectively. The rise of leading AI tokens is relatively small, with AGIX and FET 24-hour increases of 6% and 3.2% respectively.