IP Tokenization Platform IPX Raises $4 Million in Seed Funding, Plans Nov. 15 Launch
IPX, a blockchain platform that tokenizes creators' intellectual property, has raised $4 million in seed funding. The company plans to launch its service on Nov. 15, offering support in one place for financing, promotion, monetization and distribution of creative works.IPX said the funding round valued the company at $125 million. BitSurge Holdings led the investment, with the YICIPX Holdings family office and strategic investors also taking part.IPX is built on the Base blockchain network. It combines token issuance and trading functions with an AI agent-based system for managing IP businesses. The setup is designed to help creators and rights holders operate businesses around their works and communicate with fans.The company's initial focus will be Hollywood content, games and YouTube memberships. It said it has signed exclusive agreements with more than 100 celebrities to tokenize original intellectual property. Participants include rights holders across fields such as acting, music, sports and production.Project-specific tokens issued on the platform will be paired for trading with IPX's native token, also called IPX. Users will be able to buy, sell or stake project tokens on the IPX exchange. The company plans to use platform revenue, IP income, sponsorship brokerage fees, monthly subscription charges and earnings from external subsidiaries as funding for IPX token buybacks.IPX also plans to establish a system linking revenue generated by creative works to blockchain-based services. It will integrate financial infrastructure that supports conversion between fiat currencies and digital assets. Contracts and terms of use will also require project revenue to pass through the platform. The aim is to connect fan participation in projects with actual business performance.Brendan McCafferty, IPX's founder and chief executive officer, said creators should be able to raise money without giving up what they have made. Fans, he added, should also be able to help bring projects to life and share in the returns generated by the revenue they helped create.The goal is to shift the balance of power in the IP industry so creators and fans hold the initiative, he said.