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Fox Corp. Launches $100 Million Creative Fund For NFTs

Fox Corp., the mass media company, has launched a $100 million creative fund for non-fungible tokens (NFTs), under the auspices of its new NFT firm Blockchain Creative Labs.

It has been reported that the NFT division was revealed last month alongside a new animated comedy series dubbed “Krapopolis” by Rick and Morty co-creator Dan Harmon. The show is set to premiere in 2022 and will be a satirical comedy focused on life in ancient Greece.

Fox stated:

"The $100 million in funding will be used to support content creators, IP owners, and advertising partners end-to-end blockchain computer ecosystem solutions to build, launch, manage and sell NFT content and experiences, and fungible tokens, as well as digital goods and assets."

However, Blockchain Creative Labs will also keep a close watch out to identify “growth opportunities” that present themselves in the rapidly evolving NFT space.

Scott Greenberg, the former President and Chief Operating Officer (COO) of independent animation company Film Roman, has been named the new CEO of Blockchain Creative Labs and will oversee the unit and the newly formed content fund.

Greenberg oversaw the production of the Simpsons during his time at Film Roman and currently serves as the CEO of the Bento Box Entertainment studio, a firm he co-founded, which is also a subsidiary of Fox and a partner to Blockchain Creative Labs. Bento Box has produced the cult favorite animated comedy show Bob’s Burgers, along with other notable series such as Hoops and Central Park.

Greenberg said:

"Entrepreneurs at our core, FOX and Bento Box are uniquely situated to bring exciting offerings to the digital goods, token and NFT marketplace."

Blockchain Creative Labs will manage dedicated marketplaces to shows partnered with the firm. The marketplaces will include content such as NFTs depicting characters and background artwork, GIFs, and tokens that unlock exclusive social experiences for dedicated fans.

The 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.

Thus, an episode in April 2021 depicted Marge checking her investment gains after watching a show dubbed “Crazy Cash,” which had Bitcoin displayed next to an infinity symbol on the ticker feed.

Source: Cointelegraph | Image: Forbes




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