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Fox to Launch NFT Company and New Blockchain-Based Animated Show

American mass media company Fox is set to launch a non-fungible token (NFT) company a Blockchain Creative Labs, and a blockchain-based animated series. CEO Charlie Collier speaking at this year’s media upfronts revealed that Fox is forming Blockchain Creative Labs to create non-fungible tokens based on the company’s intellectual properties. A statement from Fox revealed that, the marketplace “curate and sell” digital products including one-of-a-kind character NFTs, background art, GIFs and tokens designed to connect with exclusive social experiences to engage and reward fans.

Fox’s new blockchain-based animated series “Krapopolis” is a comedy set created by Dan Harmon, popularly known for his hit animated science fiction show Rick and Morty. According to Fox, the new series is based on a “flawed family of humans, gods, and monsters that tries to run one of the world’s first cities without killing each other” and is being produced by Bento Box Entertainment, a subsidiary of Fox.

Charlie Collier, speaking after the announcement stated that “As an advertiser-focused, artist-first and animation-obsessed company, Fox is going to take advertisers into the world of blockchain-powered tokens, including NFTs.” Collier added that Dan Harmon’s series dubbed Krapopolis will be the first-ever curated solely on the blockchain network. “And just as we’re doing this for our own animation, we will also help your brands connect directly with fans and enthusiasts through NFTs,” he said.

The mass media company however hasn’t revealed what blockchain network it plans on using to create and sell its NFTs. Fox has only disclosed a few details about the NFT business with CEO Collier stating that the company is primarily focused on taking advertisers into the world of blockchain-powered tokens, including NFTs. Krapopolis will be the first animated series to be created using blockchain technology.

Fox’s latest move according to industry experts is a way of maximizing its profit from its properties to curb the annual traditional TV rating fluctuations and NFTs seems like the sure option as its popularity continues to increase in the e-commerce sector.

NFTs have been a major hit this year in the finance space. Reports from DappRadar revealed that the NFT market racked in over $1.5 billion in sales during Q1 of 2021with digital collectibles and physical artwork leading the charts. Earlier this year, Grimes, a Canadian artist sold a round of NFTs for almost $6 million with a LeBron James highlight fetching over $200,000 a few months later.

American Rock Band, Kings of Leon has also announced that it is releasing a new album in the form of an NFT adding to the long list of players in the entertainment industry who have signed onto NFTs including Linkin Park’s Mike Shinoda, Shawn Mendes, and Portugal.The Man.

Fox to Launch NFT Company and New Blockchain-Based Animated Show

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