I. Project Overview

Fireverse is an AI-driven Web3 music creation platform that reconstructs the processes of music creation, copyright protection, and value distribution through blockchain technology. Its core innovation lies in lowering the threshold for music creation (generating high-quality songs within 5 minutes), while leveraging token economics to incentivize user participation. The project completed a $2.5 million A-round financing in February 2025, led by Nobody under Stephen Chow, with follow-up investments from OKX Ventures, BingX Labs, etc., achieving a post-investment valuation of $30 million.

II. Core Technology Architecture

1. AI Music Generation Engine

- Utilizes GAN (Generative Adversarial Network) to optimize melody diversity, LSTM (Long Short-Term Memory network) to ensure musical coherence, and Transformer models to capture emotional layers, supporting multi-styles (pop, hip-hop, etc.) for one-click generation.

- Launched an intelligent NFT node program in collaboration with Smart AI, achieving deep integration of AI music and NFTs.

2. Blockchain Underpinnings

- Built on BNB Chain (BEP-20), achieving copyright on-chain certification, ensuring creators receive permanent revenue sharing.

- NFT-ifying classic film and television IPs (such as Stephen Chow's (Mermaid)(Journey to the West) series) to enrich the creative material library.

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III. Ecological Data and Market Performance

| Indicator | Value | Explanation |

| Registered Users | 16 million+ | Launched in October 2024, annual growth rate exceeds 10 times

| Generated Works | 500,000+ songs | Daily creation volume reaches 3,000 songs

| Star Collaborations | Kay Tse, Vivian Chow | Enhancing Web2 market penetration

| IP Authorization | Nobody (Stephen Chow)| Exclusive music NFT development rights

IV. Token Economic Model ($FIR)

1. Basic Parameters

- Total Supply: 1 billion tokens, initial circulation: 115.9 million (11.59%, including airdrops and exchange liquidity).

2. Distribution Mechanism

| Usage | Proportion | Release Rules |

| Staking Rewards | 30% | Linear release, incentivizing long-term holding

| Ecological Incentives | 10% | User creation airdrops and activity rewards

| Institutional Investors | 20% | Locked for 12 months, then linear unlocking over 48 months

| Team and Advisors | 16% | Locked for 12 months, then linear unlocking over 48 months

| Liquidity Provision | 8% | Reserved for exchange market making

3. Value Capture Scenarios

- Creation Incentives: Users earn points (redeemable for $FIR) by generating music, listening, and sharing through AI.

- Consumption Scenarios: Purchasing digital albums/NFT copyrights, tipping creators, increasing exposure traffic.

- Governance Rights: Holders participate in platform parameter voting (e.g., copyright revenue sharing ratio).

V. Team and Resource Endorsement

- Core Team: CTO Jay Huang (AI algorithm expert), CMO Ray Yu (entertainment industry resources), COO William Yang (Web3 economic design).

- Strategic Partners:

- Nobody: Provides top-tier film and television IP resources and fan traffic.

- BingX Labs: Invested $100,000 to support Web3 infrastructure development.

- OKX Ventures: Provides exchange ecosystem support and liquidity resources.

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VI. Risk and Opportunity Analysis

✅ Advantages

- Genuine Demand Support: 16 million users and 500,000 works validate product market fit.

- Low Initial Circulation: Institutional and team token lock-up, early selling pressure concentrated on community airdrops (about 2%), circulating market value only $8 million (FDV $69 million).

- Entertainment Resource Barriers: Stephen Chow's IP binding creates a content moat.

⚠️ Challenges

- Token Consumption Scenarios Dependency: Continuous expansion of $FIR's utility in copyright transactions and NFT minting is needed.

- AI Music Copyright Disputes: Legal rights confirmation for generated content needs further compliance.

VII. Investment Value Assessment

- Valuation Benchmark: A-round financing cost is $0.0125 (FDV $12.5 million), current pre-market quote is $0.07–0.09, corresponding circulating market value is $8 million–$10.3 million, FDV $69 million–$89 million.

- Short-term Catalysts:

- Binance Alpha's initial traffic injection (expected distribution of 10 million token airdrops).

- Co-branded NFT releases with stars like Kay Tse drive community engagement.

- Long-term Potential: If platform user annual growth maintains over 200%, with expanded token consumption scenarios, FDV is expected to match leading NFT platforms (like Sound.xyz) (current FDV $200–500 million).

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Conclusion: ★★★☆☆ (Neutral to Positive)

Fireverse exhibits significant innovation in AI music generation and IP resource integration, with token economics focusing on long-term value capture. In the short term, observe liquidity support after Binance Alpha launch; in the medium to long term, focus on user growth and copyright transaction volume. Recommendation: Consider small positions in airdrops or community activities, and position for ecological development dividends during dips.

Once the price reaches above $0.1, partial profit-taking can be considered.

«Data Source: Fireverse White Paper, OKX Ventures Announcement, BingX Investment Statement.»