OKX Ventures announced investment in Moonbox, which has secured film and television IP rights from Stephen Chow
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OKX Ventures announced investment in Moonbox, which has secured film and television IP rights from Stephen Chow
This investment marks a significant step by OKX in advancing the integration of AI and Web3, and is expected to greatly promote large-scale applications of Web3 in the film and entertainment industries.
Navigating Web3 tides with focused insightsOn August 4, OKX Ventures announced a $1 million investment in Moonbox, an AI-driven tech startup.
Based in Hong Kong, Moonbox has been exploring the transformative potential of generative AI technologies for Web3 and NFT application layers since 2023. In July 2023, the company officially secured the rights to use Stephen Chow's film IPs for NFT applications, including "Journey to the West: Conquering the Demons," "Journey to the West: The Demons Strike Back," and "The Mermaid." Additionally, the team plans to launch an "AI-Powered NFT" platform and interactive AI applications for NFT holders by the end of this year.
Jeff Ren, Partner at OKX Ventures, stated: "Web3 is reshaping the creator economy by leveraging blockchain technology to enable people to build open, free, and transparent communities that facilitate effective communication, sharing of joy and value, while reducing trust and communication costs. For example, NFT-generated art uses smart contracts for creation and stores them on the blockchain as NFTs, blending code with art. This allows creators to share joy through NFTs, earn revenue from their creations, and strengthen community belonging among NFT holders. The emergence of Moonbox represents a strong integration of Web3 and AI, which will significantly empower the development of the creator economy."
Ignatious Yong, Senior Advisor at Moonbox, said: "We are excited to empower the Web3 ecosystem with AI, especially by providing more interactive experiences—giving 'souls' to characters within an NFT collection. Our mission is to drive the integration and large-scale adoption of AI generation technology within the Web3 ecosystem, making NFTs more engaging and valuable while delivering stronger use cases for the entertainment industry. We believe Moonbox will attract users from diverse industries in the future, and we are deeply grateful for the support from Stephen Chow and OKX Ventures."
As the investment arm of OKX, a leading global digital asset exchange, OKX Ventures focuses on identifying high-quality global projects and supporting cutting-edge blockchain technological innovation. It has successfully invested in over 300 projects across infrastructure, Web3, NFTs, and other sectors, driving the sustainable growth of the global blockchain industry. This investment in Moonbox marks another proactive step by OKX toward advancing the convergence of AI and Web3.
Looking ahead, as the Web3 ecosystem continues to evolve, the integration of Web3 and AI technologies will unlock numerous new applications in film and entertainment. Moonbox’s development will greatly accelerate the widespread adoption of Web3 in these fields.
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