Last month, Fox Entertainment’s animation studio Bento Box Entertainment revealed plans to launch the first animated comedy series curated entirely on blockchain. Today, the company announced it is investing $100 million in a ‘creator fund’ for the non-fungible token (NFT) space through a new business unit called Blockchain Creative Labs.
The animated show, Krapopolis, was created by “Rick and Morty” writer Dan Harmon. Blockchain Creative Labs will operate a digital marketplace dedicated to commercializing characters, background art, and GIF non-fungible tokens (NFTs) related to the series and other projects that join the platform.
There has been a significant decline in activity in the NFT space. According to NonFungible.com, overall NFT sales went from a seven day peak on May 9 of $176 million to $9.3 million on June 15. However, early May witnessed an unusual spike in NFT interest, but current sales levels are less than a third of a typical April week. Before yesterday, the last time weekly sales were under $10 million was in January, prior to the boom. However, unit sales have declined significantly less than the dollar sales amounts.
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