Moonbox Secures USD 2.5 Million Funding Led by OKX Ventures to Propel AI and Web3 Innovations September 9, 2023 September 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 9, 2023 by Kelly Cromley

Moonbox Secures USD 2.5 Million Funding Led by OKX Ventures to Propel AI and Web3 Innovations

Moonbox, an emerging AI and Web3 startup headquartered in Singapore and Hong Kong, has successfully concluded a strategic funding round, raising USD 2.5 million with OKX Ventures at the helm. This funding milestone reinforces Moonbox’s mission to disrupt various industries by harnessing the potential of AI and blockchain technologies. The capital infusion will be directed towards expanding the company’s research and development capabilities, driving innovation, and fostering collaborations within the ever-evolving Web3 landscape.

Participating alongside OKX Ventures were Lingfeng Innovation Fund (LIF), Bing Ventures, Leland Ventures, Hailstone Labs, and Nexara Ventures, highlighting the growing confidence in Moonbox and its cutting-edge technology.

Moonbox’s primary objectives for utilizing the funds include accelerating product development, extending market outreach, and fortifying its team to enhance customer service and facilitate rapid growth. This significant development has led to an increase in Moonbox’s valuation, estimated at USD 50 million earlier this year.

Having recently acquired licensing rights to create NFTs based on Stephen Chow’s iconic film intellectual properties (IPs), Moonbox is on course to unveil a collection of AI-powered NFTs and applications inspired by the realms of art and film by the close of 2023. This strategic initiative underscores the company’s commitment to bridging the gap between technology and culture, while highlighting its potential to revolutionize the digital art landscape.

Moonbox intends to leverage Stephen Chow’s popularity and the capabilities of AI to deliver unique immersive experiences to fans and collectors, propelling the NFT market to new heights. The raised funds will play a pivotal role in supporting product expansion and core technological advancements, with a specific focus on the development of AI-powered applications to enhance the utilization of Web3 and NFTs.

In a press release, Moonbox Senior Advisor Ignious Yong articulated the company’s mission, stating, “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 requirements. By integrating AI capabilities into the platform, Moonbox aims to streamline the creative process and facilitate seamless connections among artists, collectors, and the broader Web3 community.

In its pursuit of becoming a prominent global entity in crafting immersive AI-generated experiences, Moonbox firmly believes in a community-driven approach that encourages greater public participation in the NFT domain. By nurturing a dynamic ecosystem that caters to artists, collectors, and enthusiasts alike, Moonbox aims to redefine how people engage with and perceive digital art, harnessing the potential of generative AI and blockchain technology.

Moonbox is gearing up to launch its AI interactive platform between the fourth quarter of 2023 and the second quarter of 2024. This groundbreaking platform aims to revolutionize the way users interact with artificial intelligence, promising a seamless and intuitive experience. With a strong focus on user-centric design and advanced machine learning capabilities, Moonbox’s offering has the potential to significantly reshape industries that leverage AI technologies, ushering in a new era of innovation and accessibility.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.