Web3 Social Platform Plai Labs raises $32 million in seed funding

Plai Labs plans to use the funding to expand its team and hire developers to create decentralised social platforms that combine Web3 and AI technology

By Shashank Bhardwaj

Published: Jan 20, 2023 04:13:29 PM IST

Updated: Jan 20, 2023 04:17:32 PM IST

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Plai Labs is working on making it easier for new Web3 users to access the technology through entertainment, social interaction, and digital ownership. Image: Shutterstock

Plai Labs, a company that builds social platforms for Web3, announced that it raised $32M in a seed funding round led by the investment firm a16z.

Plai Labs, headed by former executives from gaming studio Jam City and social platform Myspace, has plans to use the money to grow its team and hire developers to create decentralised social platforms that combine Web3 and AI technology.

Josh Brooks, the executive vice president of marketing and operations at Plai Labs, has previously held high-level positions at Jam City and Myspace. He stated that Plai Labs is working on making it easier for new Web3 users to access the technology through entertainment, social interaction, and digital ownership.

Brooks also said, "The metaverse can be a lonely place without social connections. We're using our knowledge and experience to create the next generation of how people will interact with each other."

The founders of Plai Labs are Josh Brooks, Chris DeWolfe, and Aber Whitcomb. Chris DeWolfe and Josh Brooks were previously co-founders and leaders of Myspace and Jam City, while Aber Whitcomb was the chief technology officer.

Plai Labs stated in a press release that they are excited about the intersection of AI and creativity. They also added that from their experience of starting Myspace and creating popular games at Jam City, they learned that for a broad audience to engage with the technology, the experience must be enjoyable and user-friendly.

The conversation on the integration of AI in Web3 is becoming more prominent with the mainstreaming of AI software such as DALL-E and ChatGPT.

Aber Whitcomb, the CTO of Plai Labs, stated that AI would be a crucial component in their game, Champion's Ascension, by combining the AI technology they have developed with non-fungible tokens (NFTs).

Whitcomb added that the ability to use an AI-based profile in different contexts like art has potential implications for games and the metaverse, not just in Champion's Ascension but also in other social platforms that Plai Labs is interested in developing in the future.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist.