OKX Ventures announced an investment in Moonbox, which has obtained the film and television IP authorization from Stephen Chow

Author: OKX Ventures

On August 4, OKX Ventures announced a $1 million investment in the AI-driven tech startup Moonbox.

Moonbox is an AI-driven tech startup based in Hong Kong. Since 2023, the team has been exploring the disruptive significance of generative AI technology for Web3 and NFT applications. In July 2023, the company officially obtained the rights to use Mr. Stephen Chow's film IP in the NFT space, 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 "AI Powered NFT" and an AI application for NFT holders by the end of this year.

Jeff Ren, partner at OKX Ventures, stated, "Web3 is reshaping the creator economy. Web3 leverages blockchain technology to enable people to build an open, free, and transparent community, effectively communicate, share joy and value, and reduce trust and communication costs. For example, NFT-generated art is created using smart contracts and stored on the blockchain in NFT form, merging code and art together, allowing creators to share joy through NFTs, earn creative revenue, and enhance the community belonging of NFT holders. The emergence of Moonbox has facilitated a great integration of Web3 and AI, which will significantly empower the development of the creator economy."

Ignious Yong, senior advisor at Moonbox, stated, "We are excited to empower the Web3 ecosystem with AI, especially by providing a more interactive experience and giving 'soul' to characters in an NFT series. Our original intention is to promote the integration and large-scale implementation of AI generation technology with the Web3 ecosystem, making NFTs more interesting and valuable while providing better use cases for the entertainment industry. We believe that in the future, Moonbox will attract users from various industries, and we are very grateful for the support from Mr. Stephen Chow and OKX Ventures."

As an investment institution under OKX, a leading global digital asset trading platform, OKX Ventures focuses on exploring high-quality projects worldwide and supporting cutting-edge blockchain technology innovations. It has successfully invested in over 300 projects across various fields, including infrastructure, Web3, and NFTs, promoting the sustainable development of the global blockchain industry. This investment in Moonbox is a proactive attempt by OKX to advance the integration of AI and Web3.

In the future, as the Web3 ecosystem continues to develop, the combination of Web3 and AI technologies will bring more use cases for the film and entertainment industry. The development of Moonbox will greatly facilitate the large-scale adoption of Web3 in these fields.