TV and film company Fox Entertainment has officially launched its new NFT business unit and backed its entry into the blockchain-driven market by establishing a US$100 million creator fund.
In a press release issued on June 15, Fox and its animation studio Bento Box Animation announced the launch of Blockchain Creative Labs:
Blockchain Creative Labs will 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.Fox press release
Expansion of the NFT Space
The $100 million content fund will be used to “identify growth opportunities in the NFT space”, and will be managed by Blockchain Creative Labs.
CEO of Bento Box Entertainment, Scott Greenberg, will pull double-duty as CEO of the new NFT-focused studio and report to Fox Entertainment boss Charlie Collier. Collier stated:
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. Our new company, Blockchain Creative Labs, also under Scott [Greenberg] and Bento Box, will help shape and grow the fast-evolving world of creatively-led digital goods and tokens.Fox Entertainment CEO Charlie Collier
The Blockchain Gets Animated
In May 2021, Fox Entertainment flagged that its NFT studio would create a dedicated digital marketplace for its upcoming animated comedy, Krapopolis, from Emmy Award-winning creator Dan Harmon.
Blockchain Creative Labs will “manage and sell digital Krapopolis goods, including NFTs of one-of-a-kind characters and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward fans”.
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