Artificial Intelligence (AI) technology has made content creation more effortless than ever. Everything is available with a click, from editing videos and story creations to voice synthesizers. LOVO AI is a Korean startup that makes AI-generated voices available easily. The startup recently got a funding boost of $6.5 million.
LOVO is a company that creates artificial voices using AI technology and caters to businesses seeking ways to use voice AI for marketing purposes to customer service. LOVO’s technology can customize AI voices that can read out any script and work as a branding tool. The company has educational institutes, business executives, call centers, and entertainment producers among its clients.
In 2021, LOVO had attracted $4.5 million pre-Series A funding led by Kakao Entertainment. LOVO plans to explore new ways to connect AI voice technology to the Web 3.0 industry through this investment. The current investment round was led by Hashed, a global blockchain investment company in Korea. PKO Investment and Goodwater Capital participated.
Voice Actors can get a share from sales on NFT
LOVO already has experience in applying artificial voice technology to the blockchain industry. In January, LOVO recorded 100 basic voices with Jonny Cruz and Charlet Chung, voice actors famous for the game Overwatch, and created 8888 artificial voices based on them. The Voiceverse non-fungible token (NFT) collection was sold out (completely sold) in 10 minutes. Voice actors participating in the recording for LOVO receive a certain portion of the sales as royalties whenever the NFT is sold on a marketplace such as OpenC. This scheme presents a new model for voice actors to generate lasting revenue from their recordings.
Lee Seung-geon, COO, co-founder of LOVO, said, “In the past, we could freely change our appearance online, but not our voice. This is a natural result for LOVO, who has been researching voice and related applications.” LOVO plans to collaborate with future blockchain games and metaverse projects to give voice NFT holders more freedom to personalize their identities in the virtual world and create new collections.
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