Everlyn Secures $15 Million for AI Video Model
- Everlyn raises $15 million for blockchain-native video AI model.
- MystenLabs leads funding in Web3 infrastructure.
- Major impact predicted within the Sui blockchain ecosystem.
Everlyn, an on-chain video AI model, secured $15 million in a funding round led by MystenLabs and prominent Web3 venture investors to enhance AI-driven cinematic video on blockchain platform.
The funding highlights growing interest in AI-video integration and could boost activity on the Sui blockchain, impacting the ecosystem’s token, SUI.
Main Content
Introduction
Everlyn, an on-chain video AI model, recently secured $15 million in funding to enhance its blockchain-native video capabilities. MystenLabs played a significant role in this funding round, supporting technological growth in cinematic-quality on-chain video infrastructure.
Participants in the funding round included MystenLabs, Baseline, Selini Capital, and others. Everlyn aims to develop AI-powered video models for Web3 applications. The project positions itself at the intersection of AI, data, and cinematic video.
Everlyn has raised $15 million to build the future of cinematic-quality, on-chain video. We’re grateful for the support of MystenLabs and all our investors as we bring AI-powered creativity to Web3.
Implications and Future Prospects
The funding allows Everlyn to further its video AI model efforts, with potential impacts on the Sui blockchain ecosystem. MystenLabs’ involvement suggests increased on-chain activity within the Sui network, particularly in smart contract development.
Investment from such prominent backers may bolster confidence in Web3 infrastructures. The $250 million valuation highlights the project’s growing credibility and potential market influence in integrating AI with blockchain technologies.
Broader Context in Web3 and AI
MystenLabs has previously led funding to improve Web3 and AI integrations. Everlyn’s round may set a precedent for future investments in AI and blockchain combinations. Positive sentiment surrounds the potential for technological advancement in cinematic-quality video.
Early historical trends show that investments in similar AI-on-blockchain projects bring temporary ecosystem surges. Development and market interest in Sui-related applications could rise, boosting technological innovations and user adoption rate within crypto markets.
