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Mugafi partners with Avalanche... Promoting entertainment IP tokenization
Source: DigitalToday Original Title: Mugafi partners with Avalanche to promote entertainment IP tokenization Original Link:
AI-based entertainment IP platform Mugafi is partnering with Avalanche to tokenize media assets such as movies, animation, and music on the blockchain.
This collaboration will utilize Mugafi’s AI technology to directly support and distribute movies, music, and other content on-chain.
Mugafi plans to evaluate projects using its AI system, which has learned from thousands of scripts and story structures, and then raise funds on-chain. The two companies will directly provide financial support for entertainment IP worth $10 million on the blockchain, with the long-term goal of expanding to $1 billion annually. Avalanche aims to demonstrate that its network can support large-scale issuance of real-world assets through this partnership.
Mugafi was founded in India in 2020 and is backed by major entertainment and venture investors including Nexus VP, HashedEM, Netflix, Amazon, and Panorama Studios.