IPXHOP, an integrated IP trading platform, announced it has entered into a strategic partnership and received strategic investment from Japanese content company 'Funnel'.
The two companies will exchange information and resources including jointly running "ONFT" exchange business in Japan. Funnel will also assist listing of IPXHOP utility tokens on the Japanese exchange.
Funnel said, "We will lay the foundation for 'IPXHOP JAPAN' to become a global platform by localizing its operation and marketing. We plan to open IPXHOP JAPAN platform within this year."
'Funnel' is a compound word between 'fun' and 'channel' and it is currently running a variety of businesses including PC and mobile ads service, e-commerce(EC) solution development, mobile game development, and digital content distribution business. Currently, it also operates a 7 million member-strong site in Taiwan with a local partner, becoming the largest Japanese company in Taiwan. It also provides an AI-based Amazon advertising tool called "Perpetua" as an official advertising partner of Google and Amazon in Japan with an annual sales of 21 million dollars.
Hyo-seong Joshua, IPXHOP CEO, said, "Through this business partnership, the two companies will work together to expand in the Asian market through IPXHOP's unique global intellectual property transaction service and Funnel's know-how."
Meanwhile, through the investment, IPXHOP is said to accelerate with local incorporations (SPC) and prepare for it overseas services. Ahn Young-pil, IPXHOP director, who led the partnership, commented, "We are rushing to set up a local corporation(SPC) to meet the rapidly changing environment of the blockchain environment, and we are preparing to open the service to the public in the first half of 2023."