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.
Fox Corp. Embraces NFTs
The entertainment giant seemed to be sprucing things up by offering a creative fund, particularly for digital creators. While the fund stood at $100 million, it is reportedly part of its latest dive into the world of NFTs.
Furthermore, the Blockchain Creative Labs would be spearheaded by its CEO, Scott Greenberg, co-founder, and chief executive officer of Fox’s Bento Box Entertainment animation studio. This platform would carry out the sale of animation art, short-form videos as well as an array of digital activities.
Charles Collier, CEO of Fox’s entertainment division, stated,
“The emergence of blockchain technology has given birth to 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.”
While its NFT platform has been making progress, the blockchain-based show, Krapopolis would make a debut only by next year, Bloomberg revealed.