The marketplaces will include content such as NFTs depicting characters and background artwork, GIFs, and tokens that unlock exclusive social experiences for dedicated fans.
Related:Ridiculed no longer? US Space Force will launch NFT line
It is yet to be revealed which animated series will get its own NFTs via Blockchain Creative Labs, however, there is speculation that a series produced by Bento Box could be likely in light of Greenberg now overseeing both firms.
Long running Fox animated series The Simpsons has also been discussed as a potential option, with the show referencing cryptocurrency on multiple occasions.
In February 2020, a Simpsons episode featured Jim Parsons of Big Bang Theory as a guest star, who explained crypto and how a blockchain works.
U.S. media giant Fox Corp announced Tuesday it is launching a campaign, raising a total of $100M creative fund for its NFT company Blockchain Creative Labs, aimed at inspiring content creators.
Blockchain Creative Labs was launched by Rupert Murdoch’s mass media company Fox Corp and animation studio Bento Box Entertainment. Bento CEO Scott Greenberg will be in charge of this new department to oversee and manage the new fund.
Fox revealed that:
“The funds will be used to finance the creative community, as well as existing brand and IP owners, to accelerate the adoption of blockchain technology within their content and brand ecosystems, and accelerate benefits to the mainstream audience.”
The company will disclose more details of the project. The funds will be used to make “the first-ever animation series fully curated on the blockchain” in reality.
The $100 million fund news follows the introduction of Blockchain Creative Labs revealed in mid-May.
BBE was founded by Scott Greenberg, Joel Kuwahara, and Mark McJimsey and was acquired by Fox in 2019. The two firms believe the new venture will help innovate and mold the blockchain-based NFT ecosystem that has seen massive growth during the last 12 months. BBE’s cofounder and CEO, Scott Greenberg detailed on Tuesday:
Fox and Bento Box are uniquely situated to bring exciting offerings to the digital goods, token, and NFT marketplace.
Fox Entertainment CEO, Charlie Collier, detailed during the announcement that BBE’s use of blockchain improves upon the company’s craft.
FanCraze is building the International Cricket Council’s (ICC) official NFT ecosystem to deepen fans’ love of the sport.
“NFTs are fast becoming a movement and are enabling a direct relationship between all types of IP owners and their fans. NFTs represent culture and FanCraze is building an experience that would enable fans to collect cricket NFTs, engage with play-to-earn games and utilities, and own digital land,” said Anshum Bhambri, chief executive officer of FanCraze.
“Cricket is one of the most popular sports in the world and FanCraze has quickly become the leader of cricket digital collectibles and NFTs, especially with their exclusive partnership with the ICC,” said Deven Parekh, MD, Insight Partners.
Blockchain technology has bolstered a] new marketplace that is a natural extension of Bento Box’s talents, one that allows the team to support, elevate and reward innovators and artists in new and creatively exciting ways,” Collier said on Tuesday. Collier added:
Our new company, Blockchain Creative Labs, also under Scott and Bento Box, will help shape and grow the fast-evolving world of creatively-led digital goods and tokens.
Fox and BBE alongside the recently invoked Blockchain Creative Labs, have yet to announce any product launch dates or reveal when the blockchain-based animated series crafted by Dan Harmon called “Krapopolis” will air.
FanCraze’s co-founders, Anshum and Sundar, are best-in-class and we look forward to partnering with the FanCraze team as they continue to rapidly scale up and grow.”
The company plans to use the proceeds to integrate new sports relationships and to accelerate the growth of its global team, R&D lab, user experience team, gaming studio, and marketplace platform where fans can buy, trade, and craft their NFTs.
Funds will also be used to scale the company’s engineering, marketing, and customer success teams as the company expands its tech-centric offering to build the overall fan experience.
“We are thrilled to back FanCraze, which is augmenting the power of NFTs to give higher freedom, economic incentives, and thrill to fans.
Fox’s original plan was made public in the company’s “early” presentation to advertisers last month.
The studio’s NFT series will initially be driven by a show called “Krapopolis” by “Rick and Morty” creator Dan Harmon (Dan Harmon). One hundred million USD back the project in funding, and it is currently one of the more ambitious mainstream attempts for mainstream brands to enter the NFT experiment.
Blockchain Creative Labs earlier collaborated with Dan Harmon, the creator of “Rick and Morty”, to develop an animation series called “Krapopolis” wholly curated on the blockchain.
This is a satirical comedy with the theme of ancient Greek life. It will premiere in 2022.
Fox Corp. has been making news for its interest in Non-Fungible Tokens [NFT]. The firm, recently revealed that it was going all into the NFT arena with a new animated comedy as well as a platform dedicated to NFTs. In more recent news, Fox has revealed that it would be elevating its presence in the NFT space by inducing a creative fund of a whopping $100 million.
This year, NFTs managed to secure a spot under the crypto spotlight.
Several celebrities had jumped on to the NFT bandwagon and Fox Corp. seemed to be the latest to join the trend. Last month, the entertainment platform revealed that it was going to roll out a blockchain-based show called Krapopolis. This show would reportedly be led by Rick and Morty’s co-creator, Dan Harmon.
Alongside this, the platform revealed that it would venture into the NFT business with Blockchain Creative Labs.
Mumbai: FanCraze, the digital collectibles company that in January dropped NFTs (non-fungible tokens) of 75 moments from the ICC Men’s World Cup, has raised $100 million in a funding round.
The funding round was led by New York-based global private equity and venture capital firm Insight Partners, with participation from B Capital.
The newly raised capital will be used to fund the expansion of the company’s metaverse across the cricket landscape for current and emerging partners.
Mirae Financial, Tiger Global, Coatue Management, Sequoia Capital India, Courtside Ventures, and Cristiano Ronaldo’s CR7 also invested in the round, which is touted as one of the largest Series A rounds in Asia.
Fresh off the heels of announcing a non-fungible token (NFT) organization called Blockchain Creative Labs and a blockchain-based animated series, Fox Broadcasting Company has revealed it’s invoked a $100 million fund with Bento Box Entertainment (BBE) that aims to bolster NFT content creators.
Fox and Bento Box to Fuel NFT Ecosystem With a $100 Million Fund
On June 15, the New York-based television network and entertainment firm Fox revealed a $100 million fund that aims to help further NFT creators and the industry. Fox and its subsidiary Bento Box Entertainment (best-known for producing the show “Bob’s Burgers”) have explained that the companies are working with Blockchain Creative Labs to further the venture.