OKX Ventures announced investment in Moonbox, which has obtained licensing rights for Stephen Chow's film and television IP.

On August 4th, 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 that has been exploring the disruptive significance of generative AI technology for the Web3 and NFT application layer since 2023. In July 2023, the company officially obtained the rights to use Mr. Stephen Chow's movies IPs, including "Journey to the West: Conquering the Demons," "Journey to the West: The Demons Strike Back," and "The Mermaid," in the NFT domain. Additionally, the team plans to release "AI Powered NFT" later this year and AI applications for interaction with NFT holders.

Jeff Ren, partner at OKX Ventures, said, "Web3 is reshaping the creator economy. Web3 uses blockchain technology to create an open, free, and transparent community, enabling effective communication, sharing of joy and value, and reducing trust and communication costs. For example, NFT generates art, created using smart contracts and stored on the blockchain in NFT form, combining code and art, allowing creators to share joy and gain income through NFTs, while increasing the sense of community belonging for NFT holders. The emergence of Moonbox integrates Web3 and AI, which will greatly empower the development of the creator economy."

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

OKX Ventures, as an investment institution under OKX, a leading global digital asset trading platform, focuses on exploring quality projects worldwide and supporting cutting-edge blockchain technology innovations. It has successfully invested in over 300 projects in various fields such as infrastructure, Web3, and NFT, driving the sustainable development of the global blockchain industry. This investment in Moonbox is also an active attempt by OKX to promote the integration of AI and Web3.

In the future, with the continuous development of the Web3 ecosystem, the combination of Web3 and AI technology will bring more use cases for the film and entertainment industry. The development of Moonbox will greatly facilitate the widespread adoption of Web3 in these domains.