In recent months, two domains have emerged as game-changers: Artificial Intelligence (AI) and Web3. The fusion of these two technologies is creating a new wave of innovation, and startups that are merging AI with Web3 are attracting significant attention and investment. According to a recent press release, OKX Ventures announced a $1 million investment in Moonbox, a promising Hong Kong-based startup specializing in artificial intelligence (AI) and Web3 technologies. This investment marks the lead funding round for Moonbox, positioning the company for accelerated growth and development.
Moonbox Plans To Launch AI-Powered NFTs
OKX Ventures, the investment arm of the global crypto exchange and Web3 innovator OKX, has invested $1 million in Moonbox. This Hong Kong-based startup is making waves in the tech industry with its focus on AI and Web3.
Moonbox is not just any tech startup. It holds the license to the intellectual property (IP) of renowned films by Stephen Chow, including “Journey to the West: Conquering the Demons,” “Journey to the West: The Demons Strike Back,” and “The Mermaid.” Leveraging this unique position, Moonbox has ambitious plans to launch a series of AI-powered Non-Fungible Tokens (NFTs) and applications inspired by the art and film industry by the end of 2023.
The investment from OKX Ventures will be instrumental in accelerating Moonbox’s product growth and further developing its core technology. The startup’s primary focus is on building applications powered by the latest generative AI technology for use in Web3 and NFT applications.
The backing from OKX Ventures showcases Moonbox’s potential and the growing interest in the AI and Web3 space. As the tech industry increasingly focuses on Web3 technologies and NFTs, Moonbox’s unique approach to integrating AI and Web3 technologies with its access to popular film IPs positions it at the top of this new wave of innovation.
Moonbox Senior Advisor Ignious Yong said, “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.”
AI’s Integration Into Web3 Marks A Robust Move
Artificial Intelligence has been leading the new-age technology, driving advancements in areas ranging from data analysis to automation. On the other hand, Web3 represents the next generation of the internet, a decentralized web where users have more control over their data and digital identities. The combination of AI and Web3 is a potent mix, promising to bring solid changes to the industry.
The hype around AI in Web3 is driven by the immense potential of these technologies. AI can enhance the functionality and usability of Web3 platforms by providing intelligent data analysis, predictive capabilities, and automation. Moreover, AI-powered NFTs have become a priority for creators to design their NFTs the way they imagine, just like Midjourney.
OKX Ventures Partner Jeff Ren said, “Web3 and blockchain technology are revolutionizing the creator economy, and the emergence of Moonbox is an exciting step forward in this growth phase. With blockchain technology, users can build an open, free, and transparent community that allows effective communication and open expression at a lower cost. Combining this with AI technology brings promising possibilities for the Web3 ecosystem, and OKX Ventures is proud to play a role in that journey through supporting the work of Moonbox.”
AI algorithms can create unique pieces of digital art, which can then be tokenized as NFTs. This has given rise to a new genre of art where the artist is the AI itself. With the support of OKX Ventures, Moonbox is now better equipped to realize this vision and bring its innovative solutions to the market.
