One of the America Biggest Entertainment group, Fox entertainment is jumping its feet into NFTs. Fox is putting $100 million behind its non-fungible token (NFT) project.
In partnership with Bento Box entertainment animation studio that created Bob’s Burgers, Fox Entertainment is launching a new unit for NFTs, called Blockchain Creative Labs (BCL). The Bento Box’s Co-founder Scott Greenberg will serve as the CEO of BCL. BCL is an NFT focused business that Fox first announced in May.
Blockchain Creative Labs intends to sell animation art, short-form videos, and other digital experience to fans. For the first time, the project’s funds will go towards making “the first-ever animated series curated entirely on the blockchain”.
The new unit’s first project is ‘Krapopolis,’ an animated comedy from Dan Harmon, best known for shows “Community” and “Ricky and Morty.” It will appear on the Fox network next year.
Charles Collier, CEO of Fox’s entertainment division, said how blockchain technology opens new ways to reward innovators and artists.
“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.”
Though it’s not sure if Fox’s existing animated series like “The Simpsons” will join the company’s NFT initiative. However, sources familiar with the matter said that Fox Entertainment is open to working with the creators.
