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- A collaboration between Mugafi and Avalanche would witness the launch of an entertainment IP launchpad on the blockchain platform.
- This could position Mugafi to compete in the entertainment market, which is projected to reach $2.2 trillion in the next five years.
An entertainment tech and AI-driven IP creation platform, Mugafi, has announced a strategic partnership with Avalanche (AVAX) to include retail audiences, creators, and Web3 communities in important decision-making and its ownership initiatives.
According to reports, the collaboration would see the launch of an entertainment IP launchpad on Avalanche and bring real-world entertainment assets on-chain. In a nutshell, it would bring more than $1 billion in IP pipeline value to the network.
In a post detailing this development, Mugafi labeled Avalanche as the fastest-growing RWA infrastructure with $1.2 billion in tokenized assets. Additionally, the blockchain platform was said to have recorded a growing institutional adoption and has proven scalability.
Source: Mugafi on X
The launchpad expected to be unveiled would capitalize on Avalanche’s blockchain rail, which is said to dominate in the area of instant settlement, transparent structuring, and on-chain verifications.
What to Expect from the Mugafi and Avalanche Partnership
This partnership has been tipped to create about 300 to 500 direct jobs across various lines of operations, including production, distribution, and compliance. Also, more than 1,500 creators and studio opportunities would be added to the existing ones within a space of 18 months.
Apart from these, both parties plan to finance more than $10 million in entertainment IPs, fund five to ten high-profile projects, and onboard 25,000 early participants. Joining hands with Avalanche, as highlighted in its announcement, could strengthen Mugafi’s user experience and operational reliability.
It is worth noting that Mugafi’s AI systems, VED and Pulse, are trained on more than 20,000 scripts and over one million stories. According to the company, one of its projects, Kuberaa, has so far recorded $35 million in satellite box office, music, and streaming revenue. Its latest partnership could increase these achievements and strategically position it to play a crucial role in the entertainment market, which is projected to reach $2.2 trillion by 2030.
The RWA industry has also been projected to reach $16 trillion in the next five years, and Avalanche is already making significant progress as it consistently emerges within the top projects with the highest developer activities. As featured in our earlier discussion, Avalanche came third on the RWA ranking by development.
According to our previous update, Avalanche is also expected to power the launch of Yen and a USD stablecoin by the big three Japanese banks.