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Fox Corp backs blockchain platform Eluvio as part of digital entertainment push

Fox Corporation has invested in Eluvio, a platform that manages, distributes and monetises premium content via blockchain, as it looks to accelerate the use of the technology in the media and entertainment industry.

Michelle Munson

The move follows Fox Entertainment’s plans to pump US$100m into a new business and creative unit focused on blockchain and non-fungible tokens (NFT).

Blockchain is the ledger system that underpins cryptocurrencies like Bitcoin and enables transactions through them, while NFTs are unique assets in the digital world that can be bought and sold like any other piece of property but are of no tangible form.

Following Fox’s investment in Eluvio, it will provide the underlying technology platform for LA-based Blockchain Creative Labs, Fox Entertainment and Bento Box Entertainment’s recently launched NFT business and creative unit.

Launched in 2019, Eluvio is led by technologists Michelle Munson and Serban Simu. Fox’s investment, details of which were undisclosed, marks the completion of Eluvio’s Series A round at a valuation of US$100m.

Paul Cheesbrough, chief technology officer and president of digital for Fox Corporation, will join Eluvio’s board of directors following the investment.

“At Fox, we believe that the blockchain, and the overall shift towards a more decentralised web, is providing creators with a wealth of opportunities to reach consumers with exciting new experiences,” said Cheesbrough.

“We believe there is great opportunity in tokenised media on the blockchain, which represents a new era in how technology and entertainment will drive one another forward,” said Scott Greenberg, CEO of Blockchain Creative Labs and co-founder and CEO of Bento Box Entertainment.

“Fox, Blockchain Creative Labs and Eluvio share a common vision about the ability of blockchain and ‘smart’ assets to fundamentally alter how digital entertainment is created, controlled, and distributed,” added Munson.

“We’re also particularly excited about the opportunity to work alongside companies that are arguably second to none when it comes to digital animation and multi-screen advertising.”


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