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- The collaboration between Mugafi and Avalanche will witness the launch of an entertainment IP launchpad on the blockchain platform.
- This could put Mr. Mugafi in a position to compete in an entertainment market expected to reach $2.2 trillion over the next five years.
Mugafi, an entertainment technology and AI-driven IP creation platform, announces a strategic partnership with Avalanche (AVAX) to engage retail audiences, creators, and the Web3 community in key decision-making and ownership efforts.
The partnership will reportedly launch an entertainment IP launchpad on Avalanche, bringing real-world entertainment assets on-chain. In short, it brings over $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, blockchain platforms are registering increased institutional adoption and are said to be proving scalable.
Source: Mugafi of X
The launch pad to be announced will leverage Avalanche's blockchain rails, which is said to have an edge in the areas of instant payments, transparent structuring, and on-chain verification.
What to expect from the Mugafi-Avalanche partnership
The partnership is expected to create approximately 300 to 500 direct jobs across various operational areas including production, distribution and compliance. Additionally, over 1,500 creator and studio opportunities will be added to existing ones over the next 18 months.
Separately, the parties plan to loan more than $10 million to entertainment IP, fund five to 10 high-profile projects, and hire 25,000 early participants. As highlighted in the announcement, partnering with Avalanche has the potential to enhance Mugafi's user experience and operational reliability.
It's worth noting that Mugafi's AI systems, VED and Pulse, are trained with over 20,000 scripts and over 1 million stories. The company said one of its projects, “Kuberaa,'' has so far grossed $35 million in satellite box office, music and streaming revenue. The company's latest partnership could build on these achievements and position it strategically to play a key role in an entertainment market expected to reach $2.2 trillion by 2030.
The RWA industry is also expected to reach $16 trillion over the next five years, and Avalanche has already made significant progress, consistently ranking among the top projects with the most developer activity. As discussed in a previous discussion, Avalanche came in third in the RWA rankings by development.
According to the previous update, Avalanche is also expected to impact the issuance of yen and US dollar stablecoins by Japan's three largest banks.
