I built an LED scrolling sign in my basement using the same 8x32 panels as the OP, controlled by the more-than-fast-ish-enough ESP32.
I never got around to making a proper video about the construction and installation, but I do have this demo of one of the applications I wrote for it:
They practically give ESP32s away with an oil change, so you could call it done at that point, but I chose to use a QuinLED Dig-Quad (https://quinled.info/pre-assembled-quinled-dig-quad/) to make it easy to wire up and mount on the wall. That cost me about $60 shipped. And I added a MEAN WELL LRS-100-5 power supply for $20.
Finally for the laser-cut frames, I burned up about $30 of wood, and there's some minimal amount of 3D printer filament as well. Along with the incidental things like having to buy a spool of 3-conductor cable, connectors, etc.
So all together I'd guess it was around $300. A completely no-frills version could be maybe half that.
You actually don't need more than the ESP32 and the led matrix. The LEDs are connected in series and you send a bit stream of RGB. Each led had an internal shift register with one input pin and one output pin, connected to the next LEDs input pin.
So one microcontroller with one output pin available is all you need. Since there is no clock signal, timing needs to quite tight.
To find more information you can google WS2812 or Neopixel. Libraries to use the protocol exists for most microcontrollers.
An ESP32 module is a good choice because it costs $2-3, includes wifi and BT, antenna or UF-L plug, and is pre-certified.
I made a little portrait frame and MCU that draws Conway's Life.
https://www.amazon.com/gp/product/B09CTQ37DB (I got the 16x16 for $16). Another <$10 for the ESP32. A soldering iron ($40 for a pinecil), $verylittle for solder and hook up wire. In my case, a 3D printer ($500) plus filament ($20), and some design software ($500/year, because Fusion 360 expensive).
I never got around to making a proper video about the construction and installation, but I do have this demo of one of the applications I wrote for it:
https://www.youtube.com/watch?v=gSq8dYBHVBQ
I should do a full write-up so I can submit it to HN. Code's on GitHub anyway. https://github.com/masto/LED-Marquee