Moonbox, an AI and Web3 startup based in Singapore and Hong Kong, has announced the successful completion of a USD 2.5 million strategic funding round led by OKX Ventures. This notable achievement bolsters Moonbox’s goal of harnessing AI and blockchain technology to disrupt various industries. Proceeds raised will be used to expand the company’s research and development capabilities, drive innovation, and encourage collaborations within the rapidly evolving Web3 landscape.
Alongside OKX Ventures, Lingfeng Innovation Fund (LIF), Bing Ventures, Leland Ventures, Hailstone Labs, and Nexara Ventures were among the other participants in this round. These investments reflect increased confidence in the growing startup and its cutting-edge technology.
Moonbox will use the funds raised to fast-track product development, extend its market reach, and strengthen its team for better customer service and accelerated growth. This development has led to an increased Moonbox valuation, which was set at an estimated USD 50 million earlier this year.
Expanding into Cultural Industries with AI-Powered NFTs and Applications
After recently securing licensing rights for creating NFTs based on Stephen Chow’s iconic film IPs, Moonbox is on track to launch a collection of AI-powered NFTs and applications influenced by art and film sectors by the end of 2023. This strategic move emphasizes the company’s dedication to bridging technological and cultural gaps while underscoring its potential to revolutionize the digital art landscape.
Moonbox is set to capitalize on Stephen Chow’s popularity and AI’s capabilities to create unique immersive experiences for fans and collectors, propelling the NFT market upwards. Funds raised will support product growth and core technology advancements, focusing on AI-powered application development for increased Web3 and its NFT utilization.
Moonbox’s Mission to Power the Web3 Ecosystem and NFTs with AI-Generative Technology
In a press release, Moonbox Senior Advisor Ignious Yong shared, “Our mission at Moonbox is to power the Web3 ecosystem, NFTs in particular, by providing fully interactive experiences with the use of AI generative technology.”
The company aspires to revolutionize the digital art space by offering distinctive and customizable NFT-based solutions tailored to individual user needs. Integrating AI capacities into the platform will improve the creative process and enable seamless connections between artists, collectors, and the Web3 community.
Community-driven Approach Aiming to Revolutionize Digital Art and NFT Interaction
To become a leading global organization in creating immersive AI-generated experiences, Moonbox believes adopting a community-driven approach will encourage greater public participation in the NFT domain. By cultivating a dynamic ecosystem catering to artists, collectors, and enthusiasts alike,
Moonbox aims to change the way people interact with and perceive digital art. The platform seeks to bridge the gap between creativity and the growing demand for uniquely curated NFT experiences by leveraging generative AI and blockchain technology.
Upcoming AI Interactive Platform Set to Transform Industries with Advanced Machine Learning
Moonbox plans to release its AI interactive platform between the fourth quarter of 2023 and the second quarter of 2024. This groundbreaking platform endeavors to revolutionize how users interact with artificial intelligence, providing a seamless and intuitive experience.
With a focus on user-centric design and advanced machine learning capabilities, the startup’s offering can potentially significantly transform industries leveraging AI technologies.
FAQ
What is Moonbox, and what industries does it aim to disrupt?
Moonbox is an AI and Web3 startup based in Singapore and Hong Kong, focusing on harnessing AI and blockchain technology to disrupt various industries, particularly the digital art and NFT markets.
How much did Moonbox secure in the strategic funding round, and who led it?
Moonbox secured USD$2.5 million in a funding round led by OKX Ventures.
What will Moonbox use the funds for?
The funds raised will expand research and development capabilities, drive innovation, encourage collaborations, fast-track product development, extend market reach, and strengthen its team for better customer service and accelerated growth.
In which cultural industries do Moonbox plan to expand?
Moonbox plans to expand into cultural industries with AI-powered NFTs and applications influenced by art and film sectors, launching the collection by the end of 2023.
What is Moonbox’s mission?
Moonbox aims to power the Web3 ecosystem and NFTs with AI generative technology, providing fully interactive experiences and revolutionizing the digital art space.
What approach does Moonbox believe will help revolutionize digital art and NFT interaction?
Moonbox believes adopting a community-driven approach will help revolutionize digital art and NFT interaction by encouraging public participation and cultivating a dynamic ecosystem catering to artists, collectors, and enthusiasts alike.
When does Moonbox plan to release its AI interactive platform?
Moonbox plans to release its AI interactive platform between the fourth quarter of 2023 and the second quarter of 2024.
First Reported on: yahoo.com
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