Mugafi, an AI-powered entertainment intellectual property (IP) platform, has partnered with Avalanche to tokenize movies, anime, music and other media assets, enabling creators to finance and distribute projects directly on-chain.
The initiative will draw from Mugafi’s catalog and upcoming films. According to the company, its artificial intelligence systems, trained on thousands of scripts and story structures, lend a hand evaluate projects before they are transferred to the supply chain for financing.
Mugafi and Avalanche plan to finance more than $10 million in entertainment intellectual property. The companies said their long-term goal is to exceed $1 billion in annual intellectual property financing capacity.
Avalanche he said the partnership aims to demonstrate how its network can support large-scale real-world asset issuance. The companies plan to exploit Avalanche’s infrastructure to finance, track and distribute entertainment projects on the network.
Mugafi, launched in 2020 in India, is supported by several entertainment and venture investors, including Nexus VP, HashedEM, Netflix, Amazon and Panorama Studios, among others. Its 2025 release, Kuberaa, recorded $35 million in box office revenues and was distributed via Amazon Prime Video.
According to the announcement, the collaboration is expected to support modern roles in the areas of artificial intelligence, manufacturing, blockchain operations and compliance. Mugafi offers over 1,500 opportunities to creators and studios in several regions, including India, North America, Japan and Korea.
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Blockchain in entertainment and film
The push to bring IP entertainment to the onchain has been gaining momentum among both developers and platforms for years, with several projects exploring tokenization and rights management in Web3.
In September, Animoca Brands partnered with Ibex Japan, Antler’s corporate innovation arm, to launch a Web3 entertainment fund focused on making Japanese anime and manga intellectual property rights available onchain. The initiative aims to unlock value from Japan’s largely untapped intellectual property catalog.
PIP Labs has become a major player in the Web3 IP space with the development of the Story Protocol, a Layer 1 blockchain designed to manage and program on-chain intellectual property.
Founded in 2022 by former Google DeepMind product manager Jason Zhao, the project allows creators to tokenize their work, register an IP address on-chain, and set the conditions under which it can be used, shared and customized. This framework aims to lend a hand rights holders maintain control over their content and its further exploit.
In August 2024, PIP Labs raised $80 million in a Series B round led by a16z Crypto and Polychain Capital to enhance Story Protocol.
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