Fox Launches $100M Creative Fund For NFT Content (Reported By Cointelegraph)
Fox Corp., one of Rupert Murdoch’s news companies, has launched a $100 million creative funding fund for NFTs, under the umbrella of its new initiative Blockchain Creative Labs.
According to the report of Cointelegraph, last month, Fox unveiled the NFT division alongside a new animated comedy series dubbed “Krapopolis” from Rick and Morty co-creator Dan Harmon.
The satirical comedy will premiere in 2022 and focus on living in ancient Greece.
Fox Launches $100M Creative Fund For NFT
Fox says the $100 million in funding 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.
Moreover, Blockchain Creative Labs will keep an eye out for growth opportunities that emerge in the rapidly evolving NFT space.
Mr. Scott Greenberg, the former president and chief operating officer (COO) of independent animation company Film Roman, will become CEO of Blockchain Creative Labs. He will oversee the unit and the newly formed platform for creating content.
During his tenure at Film Roman, Greenberg oversaw the making of the Simpsons and is currently the CEO of Bento Box Entertainment — a firm he also co-founded, which is also a subsidiary of Fox and a partner with Blockchain Creative Labs.
On the other hand, Bob’s Burgers were one of Bento Box’s most popular animated series, along with Hoops and Central Park. And this Emmy award-winning studio Bento Box produced the cult favorite animated show.
“Entrepreneurs at our core, FOX and Bento Box are uniquely situated to bring exciting offerings in the digital goods, token and NFT marketplace,” Greenberg said.
As reported by Cointelegraph in May, Blockchain Creative Labs will manage dedicated marketplaces to show partnered with the firm.
Blockchain Creative Labs has yet to announce which animated series will receive its own NFTs; however, considering that Greenberg is now overseeing both firms, it could be a series produced by Bento Box.
The Simpsons is also a potential option since the show makes multiple references to cryptocurrency.
Simpsons host Jim Parsons explained the concepts of cryptography and blockchain in a February 2020 episode. Marge showed her investment gains in April 2021 after seeing a show on the ticker tape called “Crazy Cash,” which displayed Bitcoin next to an infinity sign.