Web3 Social Platform Plai Labs Led By Top Veteran Engineers Raises $32 Million

Key Points:

Web3 social platform developer Plai Labs said that it had secured $32 million in a seed fundraising round headed by cryptocurrency investment company a16z.
The business, which was started by former Myspace and Jam City employees, intends to offer a novel digital social experience by fusing Web3 with AI.

Plai Labs, a Web3 Social Platform backed by industry veterans, raises $32 million in a seed round.

With the help of Plai Labs, the general public will have access to all the newest technological advancements in a simple, enjoyable way that will allow them to benefit from their digital identity. Plai Labs is a project that draws on the collective experience of top veteran engineers, game developers, Web3, design, and AI experts.

The cash will be used by Plai Labs, which is run by many former executives of the game studio Jam City and the venerable social network Myspace, to expand its staff and employ programmers to create decentralized social networks that combine Web3 and artificial intelligence.

Former senior vice president of corporate marketing and recruiting at Jam City, Josh Brooks is now executive vice president of marketing and operations at Plai Labs. In the past, he was Myspace’s vice president of programming and music.

Brooks, CEO Chris DeWolfe, who previously co-founded and directed Jam City and Myspace, and Chief Technology Officer Aber Whitcomb, who previously held those positions at Jam City and Myspace, make up the founding team of Plai Labs.

The team said in a blog post:

“We love this intersection where AI connects with and inspires creators. We want to spend more time here — and as evidence of your social feeds over Christmas Break…the world is starting to love it too. Products like Stable Diffusion, DALL-E and Midjourney have helped fuel this new arena of visual art. Plai Labs has a number of products in the lab that we believe will turbo charge this space.”

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.