Fox Establishes $100mln Creative Fund for Non-Fungible Token Development
Under the aegis of its own NFT business Blockchain Creative Labs, Rupert Murdoch’s mass media conglomerate Fox Corp. has created a $100 million innovation fund for NFTs.
In May, the NFT division was introduced with “Krapopolis,” a new cartoon comedy series from Rick and Morty co-creator Dan Harmon. The program, which will air in 2022, will be a satirical comedy based on ancient Greece.
According to Fox, the $100 million would be used to help “content producers, IP holders, and affiliate marketers develop, debut, handle, and distribute NFT content and experiences, fungible tokens, and also digital commodities and assets” using “end-to-end blockchain computer network solutions.”
Blockchain Creative Labs will also be on the lookout for “growth opportunities” in the fast expanding NFT industry. Scott Greenberg, the erstwhile president and chief operating officer (COO) of independent animation studio Film Roman, will reign over as the new CEO of Blockchain Creative Labs, and will be in charge of the business and also the freshly created content fund.
Throughout his tenure at Film Roman, Greenberg managed the creation of the Simpsons, and he now works as the CEO of the Bento Box Entertainment studio, which he co-founded and is a sister concern of Fox and an associate of Blockchain Creative Labs.
Bento Box is most known for producing the animated cartoon program Bob’s Burgers, as well as many other famous programs including Hoops and Central Park. “At our heart, FOX and Bento Box are businessmen who are well positioned to deliver innovative solutions to the digital content, token, and NFT sector,” Greenberg added.
In May, Blockchain Creative Labs will take over management of specialized markets for events that have collaborated with the company. NFTs featuring characters and backdrop artwork, GIFs, and tokens that unleash special social interactions for committed fans will be available in the markets.
It is unknown which cartoon series will receive its own NFTs through Blockchain Creative Labs, but given that Greenberg currently oversees both companies, a series created by Bento Box is a possibility. The Simpsons, a long-running Fox cartoon series, has been mentioned as a possible alternative, with the program mentioning Bitcoin on several instances.
A Simpsons series in February 2020 included Big Bang Theory’s Jim Parsons as a special actor, who discussed crypto and how a blockchain functions. Marge checked her investment profits in April 2021 after seeing a show called “Crazy Cash,” which featured Bitcoin next to an infinite sign on the price feed.