Fox announced $100M creative fund for NFT content creation
Fox Corp. has launched a $100 million creative fund for NFTs, under its new NFT firm Blockchain Creative Labs.
The funds will be used to support content creators, IP owners, and advertising partners and for the end-to-end blockchain computer ecosystem solutions to build, launch, manage and sell NFT content and experiences, fungible tokens, as well as digital goods and assets.
Blockchain Creative Labs will keep a close watch out to identify “growth opportunities” that present themselves in the rapidly evolving NFT sector and the firm will also 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 division was unveiled last month alongside a new animated comedy series dubbed “Krapopolis.” The show is set to premiere in 2022 and will be a satirical comedy focused on life in ancient Greece.
The company has assigned Scott Greenberg, the former president and COO of Film Roman, as the new CEO of Blockchain Creative Labs and will oversee the unit and the newly formed content fund.
"Entrepreneurs at our core, FOX and Bento Box are uniquely situated to bring exciting offerings to the digital goods, token and NFT marketplace,” Greenberg said.
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.