OKX Ventures, the investment division of the cryptocurrency exchange, has invested $1 million in a Hong Kong-based AI startup, Moonbox.
Moonbox deals with artificial intelligence (AI) technology with a Web3 focus and intends to utilize this funding to accelerate product expansion and further develop its core technology. The company aims to leverage the potential of the latest generative AI technology to create novel applications for the Web3 and NFT ecosystems.
Moonbox also has ambitious plans to launch a collection of AI-powered NFTs and applications inspired by art and film. These offerings are scheduled to be unveiled before the end of 2023.
Moonbox Senior Advisor, Ignious Yong, expressed enthusiasm about OKX Ventures’ involvement in their first funding round. He stated:
“We’re thrilled to have OKX Ventures as a leading investor in our first funding round. 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.”
Yong expressed strong confidence in the synergy between AI and Web3, foreseeing a delightful and lucrative future for NFTs. This integration is expected to unlock many exciting use cases in the film and entertainment sectors.
Jeff Ren, a Partner at OKX Ventures, also shared the same sentiment. He stated: “Web3 and blockchain technology are revolutionizing the creator economy, and the emergence of Moonbox is an exciting step forward in this growth phase.”
Ren expressed pride in OKX Ventures’ role in this journey, particularly through their support of Moonbox’s efforts. He claimed that by integrating AI technology with blockchain, the Web3 ecosystem can unlock a wealth of possibilities.
In other news, OKX achieved a significant milestone in July 2023 by expanding its service reach in Hong Kong. The exchange launched an upgraded app exclusively for local users, leading to over 10,000 new user registrations within a month. The app provides Hong Kong users with a seamless and user-friendly interface for buying, trading, and securely storing 16 major cryptocurrencies, significantly enhancing their overall digital asset experience.
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