DatChat Acquires Advanced AI Tool to Enhance Myseum Platform

DatChat announced it has entered into an asset purchase agreement to acquire the source code and complete rights to an artificial intelligence tool designed for media library organization. This proprietary software, which integrates seamlessly with leading AI models like Gemini, OpenAI, and Claude, will enhance DatChat's ongoing commitment to providing secure, user-friendly digital legacy solutions through its Myseum platform. Once integrated, it will allow Myseum users to create a multi-tiered social media ecosystem with their family via a secured family network for storage and sharing.

The acquired AI tool is specifically tailored to manage media libraries by intelligently tagging and renaming images and media files, either in mass or individually. This acquisition is a strategic addition to DatChat’s Myseum platform, slated for release in Fall 2024. The integration of this AI technology will empower Myseum users to organize and curate their digital content, ensuring that their most treasured memories are preserved and easily accessible.

“We think the acquisition of this AI tool represents a significant step forward in our mission to create and help users manage their digital legacies and use AI to bring their ancestorial history to life” said Darin Myman, Chief Executive Officer of DatChat, Inc. “With more personal media being generated than ever before, there’s a critical need for innovative solutions that enable secure and meaningful sharing. By integrating this AI technology into our Myseum platform, we will provide users with a robust solution for organizing and sharing their digital collections in a way that we believe is both safe and intuitive.”

The acquisition was made pursuant to an asset purchase agreement on August 27, 2024, for total consideration of 8,000,000 restricted shares of Dragon Interact, Inc., a majority-owned subsidiary of DatChat. This strategic investment demonstrates DatChat’s dedication to enhancing its core offerings and expanding its technological capabilities.

Source: DatChat media announcement