Mugafi partners with Avalanche to tokenize entertainment IP, enabling creators to fund projects directly onchain. The initiative plans to finance over $10 million in IP, with a long-term goal of exceeding $1 billion annually. Mugafi’s Kuberaa film, backed by Nexus VP, Netflix, and others, generated $35 million at the box office.

The collaboration between Mugafi and Avalanche is expected to create new opportunities in AI, production, and compliance across regions like India, North America, and Japan. The move to bring entertainment IP onchain has been growing, with projects like Story Protocol and partnerships like Animoca Brands and Ibex Japan exploring tokenization and rights management in the Web3 space.

Read more at Cointelegraph: Mugafi Brings Entertainment IP Onchain Through New Avalanche Partnership