Please wait...
Please wait...

Fox launches $100m NFT fund

Fox Entertainment is pumping US$100m into a new business and creative unit focused on blockchain and non-fungible tokens (NFT).

Scott Greenberg

Based in LA, Blockchain Creative Labs (BCL) will operate under the Fox Entertainment banner and includes a US$100m creator fund designed to identify growth opportunities in the NFT space.

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.

Fox Entertainment-owned animation studio Bento Box Entertainment’s co-founder and CEO Scott Greenberg will serve as CEO of the fledgling unit and be responsible for overseeing it and the newly formed content fund.

While assuming his new responsibilities, Greenberg will continue in his role at Bento Box and report to Charlie Collier, CEO of Fox Entertainment.

The organisation has been set up to provide 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.

Charlie Collier

Meanwhile, Fox said Bento Box Entertainment’s animated comedy Krapopolis, from creator Dan Harmon (Rick & Morty, Community), will become “the world’s first blockchain-curated animated project” following the launch of the unit.

This means BCL will manage and sell digital Krapoplis goods, including NFTs of one-of-a-kind character and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward fans.

“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,” said Collier.

“Our longstanding relationships within the creative community allow us to harness this technology to bridge together brands and producers with fans in new and interesting ways, and we’re looking forward to seizing this opportunity,” added Greenberg.

Please wait...