BingX Announces Strategic Investment in AI and Web3 Startup Moonbox

SINGAPORE, Aug. 21, 2023 /PRNewswire/ -- BingX, a leading global cryptocurrency exchange, is proud to announce a significant stride in its commitment to fostering innovation within the blockchain and Web3 ecosystem. Through its investment arm, Bing Ventures, BingX has strategically invested in Moonbox, a pioneering AI and Web3 startup.

Moonbox has a unique approach to reshaping the digital landscape. Licensed to use the intellectual property of most popular classic films of Stephen Chow, Moonbox is set to launch a series of generative AI-powered NFTs and applications inspired by the art and film by the end of 2023. It believes, with the addition of an AI interaction layer, NFTs will be more engaging, entertaining, and satisfying for users, which will ultimately lead to NFTs being used in more types of content creation such as films and short videos. With a plan to launch its AI-powered interaction platform, Moonbox aspires to become one of the world's premier companies to develop immersive experiences for individuals.

This investment will further accelerate Moonbox's product growth and advance its core technology, which leverages cutting-edge generative AI to fuel applications for the evolving Web3 and NFT ecosystem.

Founded in 2021, Bing Ventures stands as a beacon of innovation in the venture capital landscape. Focusing on supporting early-stage startups and entrepreneurs of Web3 and blockchain advancements, Bing Ventures boasts a team of industry veterans and experts with extensive experience in investing, incubating, developing, and promoting projects. With a research-driven, sector-agnostic value investing approach, Bing Ventures has built an impressive portfolio spanning DeFi, NFTs, GameFi, DAOs, infrastructure, and more.

"Moonbox's fusion of AI and Web3 showcases a visionary convergence that leads us toward a future of limitless possibilities. As Bing Ventures aligns with this innovative force, we are excited to champion Moonbox's journey, a journey that will undoubtedly catalyze the evolution of technology and its impact on society," remarked Elvisco Carrington, PR and Communications Director of BingX.

BingX's strategic investment in Moonbox signifies a strategic alignment between Bing Ventures and BingX, underlining their shared dedication to advancing the capabilities of the Web3 ecosystem. This investment showcases BingX's proactive approach to identifying and supporting promising projects that have the potential to shape the future of technology. It also marks a significant step forward in the realm of blockchain innovations and underscores BingX's commitment to driving the next wave of technological advancements.

About BingX

BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way.

SOURCE BingX