Crypto-native AI platform imgnAI has closed a $1.6 million seed funding round led by Hack VC. Rana Capital, Selini Capital, West Ham Capital, Motus Capital and dao5 also participated in the round, though a valuation was not disclosed.

The image-generation bot platform was launched in late 2022, with its native imgnAI token used to unlock premium features and mint images directly as NFTs, according to its website. Tokens spent on such features are then burned, reducing the total supply.

"imgnAI blends a user-friendly consumer AI product with powerful tools, promoting an enjoyable creative loop for artists of all skill levels," Hack VC Partner Roshun Patel said in a statement. "Added crypto-native and social features round out imgnAI as a contender to capture attention at the intersection …