BingX Labs, the research and innovation arm of cryptocurrency exchange BingX, has announced a $100,000 investment in Fireverse, an AI-powered Web3 music platform. The funding aims to accelerate Fireverse’s efforts to integrate blockchain technology and artificial intelligence into music creation, distribution, and monetization.
AI and blockchain in music creation
Fireverse provides tools for AI-generated music composition, allowing both professionals and amateurs to create high-quality tracks using automated production features. The platform leverages blockchain technology to ensure copyright protection and secure monetization through music NFTs. Fireverse also allows users to participate in global competitions, distribute music independently, and retain full ownership of their work.
The company has secured intellectual property rights from classic films by Stephen Chow, enabling the creation of film-inspired music NFTs. This integration of AI, blockchain, and entertainment aims to redefine digital music ownership and accessibility.
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BingX Labs’ role in Web3 music innovation
The investment will support Fireverse’s Web3 infrastructure, enhance its smart contract functionalities, and strengthen its NFT-based monetization models. BingX Labs also plans to introduce joint initiatives, such as BingX Learn to Earn, a gamified rewards program to drive engagement and adoption of the platform.
“Fireverse represents an exciting convergence of AI, music, and Web3 technology,” said Vivien Lin, head of BingX Labs. “At BingX Labs, we are not only providing financial support but also leveraging our industry expertise to expand Fireverse’s presence in the blockchain and crypto ecosystem. Our goal is to make music production more accessible and decentralized.”
