Fox launches NFT creation fund worth $100M. NFT boom may be over but the industry still appeals to the mainstream.
Fox intends to launch multiple NFT arts, goods, and digital creations from its firm Blockchain Creative Labs. The 100 million dollars funding has gone to the firm for creative content creation.
Fox Corp. is one of the big media companies in the United States. Like many other media companies, Fox is also exploring the Non-Fungible Tokens Space. The NFT division of the company was launched last month.
Fox company said that the funds worth 100 million dollars 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.”
Also Read: NFT Art For Beginners in 2021
Mr. Scott Greenberg, the ex-President and Cheif Operating Officer of Film Roman, an independent animation company, is set to be the Cheif Executive Officer of Fox’s Blockchain Creative Labs. Greenberg is currently the CEO of Bento Box entertainment studio. Bento Box is also a subsidiary of Fox and comes as the partner of Blockchain Creative Labs.
Scott Greenberg intends to bring some exciting work forward in his new role.
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 likely create NFTs out of shows that are partnered with the firm. It will include content such as NFTs of characters, GIFs, background artwork, and tokens that bring exclusive social experience for fans.
Fox launches NFT creation amidst the overall crypto boom. A few weeks ago, Saturday Night Lives made a sketch on NFTs. Subsequently, the franchise sold a clip from the sketch as NFT on the NFT marketplace.