IPX and Chiru Labs announce strategic partnership for innovative IP business collaborations that transcends the boundaries of online and offline while expanding to Web 3

• IPX joins forces with the web 3 technology company, Chiru Labs, the creator of the Azuki and BEANZ NFT collections
• Starting with the progress of Chiru Labs' retail business regarding its NFT IP BEANZ, the synergy between IPX's character IP expertise and Chiru Labs' NFT-based IP influence is anticipated to draw significant attention within the industry, in which the two companies hint at future partnerships with their IPs such as Azuki, LINE FRIENDS, WADE, OOZ & mates, as well as expanded joint works based on Web 3 expertise
• IPX sets sights on new horizons with the partnership, spreading its expertise and influence in the IP business beyond offline to encompass the cutting-edge worlds of Web 3 and digital

SEOUL, South Korea, April 12, 2023 /PRNewswire/ -- The digital IP platform company, IPX (formerly known as LINE FRIENDS), has formed a strategic partnership with Chiru Labs, a web 3 technology company known for its ownership of NFT collections, 'Azuki' and 'BEANZ'. With this partnership, IPX aims to expand into Chiru Labs' NFT-related IP business and showcase a variety of IP collaborations based on Web 3.

Chiru Labs is a web 3 technology company that creates decentralized anime brands at the intersection of art, technology, and culture. The company has achieved the second highest secondary trading volume for an NFT collection of all time at over USD $1 billion in 2022. Its open anime universe collection, Azuki, was launched in January 2022. Chiru Labs launched their BEANZ collection in March 2022. In the world of Azuki, which takes place in a fictional universe called the Garden, BEANZ are cute characters with a variety of different personalities. In addition to its success with Azuki, Chiru Labs has pioneered new web 3 technical innovations, such as PBT (Physical Backed Token), an open-source token standard that connects physical items to a digital token.

Through this partnership, IPX plans to expand its global IP presence by leveraging its creative capabilities and IP business expertise to develop products and licensing of Chiru Labs' NFT IP BEANZ. Furthermore, IPX aims to showcase collaborations based on Web 3 through mashups between its digital IPs, starting with the collaboration of IPX's LINE FRIENDS character IP and Chiru Labs' BEANZ to the two companies' various IP related partnerships including Azuki, WADE and OOZ & mates. This will enhance the company's expertise and domain in the digital IP-centered businesses, promising a distinctive IP business model that transcends online and offline boundaries.

"We are pleased to announce a new partnership between IPX and Chiru Labs, that are both pioneering innovative business practices in the fields of character IP and web 3 technology respectively", said Logan Cho, the Head of the Metaverse Business at IPX, "Building on our successful partnership with global blockchain company CRIPCO last year, we plan to complement Chiru Labs' IPs with our multi-faceted character IP business strategy. Moreover, we are eager to unveil an expanded IP business that encompasses Web 3, offering collaborative opportunities for both NFT holders and character IP enthusiasts alike".

"We are excited to collaborate with IPX, that is a global leader in building innovative character IP brands beloved by millions of fans across the globe", said Zagabond, the founder and CEO of Chiru Labs,"IP is evolving, and we see the web3 community as an integral part of this next wave. We can't wait to bring the world of our IPs together", he added.

About IPX (F.K.A LINE FRIENDS)

IPX is the new corporate name of LINE FRIENDS, a global character brand that originally started from Original Characters including BROWN, CONY, created for use as stickers for the leading mobile messenger app LINE and its 200 million active users worldwide. IPX announced itself as a 'digital IP platform' company to enter the digital IP based metaverse and NFT business. IPX announced its vision of IP 3.0 – allowing anyone to create, own, and generate revenue from IPs – and unveiled 'FRENZ', a new IP generator platform where users can create personal character IPs for utilization in metaverse and NFT services. Through strategic partnerships with various companies, and its digital IP 'OOZ & mates', virtual artist 'WADE', IPX is expanding its metaverse and NFT businesses and expertise. Meanwhile, IPX has created popular IPs including 'BT21' (BTS) and broadened their boundaries to virtual influencers. Moreover, IPX has expanded its IP-based business by partnering with global companies including Netflix (original animated series), SUPERCELL (Brawl Stars) and NEXON (KartRider).

Boilerplate of Chiru Labs

Chiru Labs is a Los Angeles-based technology company building decentralized brands at the intersection of art, technology, and community. Chiru Labs is the creator of the popular NFT collections Azuki and BEANZ.

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SOURCE IPX