Moonbox, a Hong Kong-based startup specializing in artificial intelligence (AI) technology and Web3 applications, secured $1 million in funding.
The investment was from OKX Ventures the investment arm of OKX, a prominent global cryptocurrency exchange and innovative Web3 company.
Notably, Moonbox has also obtained licenses to use the intellectual property (IP) associated with Stephen Chow's films, including titles like "Journey to the West: Conquering the Demons," "Journey to the West: The Demons Strike Back," and "The Mermaid."
Leveraging these IP rights, Moonbox is planning to launch a series of AI-powered non-fungible tokens (NFTs) and applications inspired by the art and film industries. This launch is anticipated to take place by the conclusion of 2023.
Moonbox will use the investment to accelerate product growth and continue to develop its core technology, which is centered on building applications powered by the latest generative AI technology for use in Web3 and NFT applications.
Moonbox Senior Advisor Ignious Yong said: "We're thrilled to have OKX Ventures as a leading investor in our first funding round, as well as the support of renowned actor and cultural icon, Mr. Stephen Chow. Our mission at Moonbox is to power the Web3 ecosystem, and NFTs in particular, by providing fully immersive experiences with the use of generative AI technology.We are confident that the integration of AI and Web3 will make NFTs more fun and valuable, creating a larger variety of use cases in the film and entertainment industries, and attracting users from all walks of life."
Company: Moonbox
Raised: $1.0M
Round: Unknown
Funding Month: August 2023
Lead Investors: OKX Ventures
Additional Investors:
Company Website:
Software Category: AI and Web3
About the Company: Moonbox is an AI and Web3 startup focusing on developing an interactive protocol with AI that can give life to different digital assets, including NFTs. In July 2023, Moonbox successfully obtained Mr. Stephen Chow's cinematic IPs for use in NFTs. Moonbox believes that the next wave of Web3 is mass adoption and is actively developing its technology to deliver greater value to both the movie industry and the Web3 ecosystem.
Source: https://www.prnewswire.com/news-releases/okx-ventures-invests-usd1-million-in-lead-funding-round-for-hong-kong-based-ai-and-web3-startup-moonbox-301893451.html