Fox has made a strategic investment in Eluvio at a $100 million valuation. The technology company has designed a solution, Content Fabric, for streaming and storing video content which incorporates blockchain for certain functionality. As part of the investment, Eluvio has been selected as the blockchain technology provider for Fox’s recently launched non-fungible token (NFT) unit Blockchain Creative Labs, part of of Fox’s Bento Box.
Earlier this year, the entertainment company announced it planned to use NFTs for its upcoming series Krapopolis, an animated comedy written by Emmy award winner Dan Harmon. The show will be the first to be curated entirely on blockchain. Digital assets such as NFTs of the characters and background art and tokens can be exchanged for rewards and experiences and will be available for purchase in the to-be-launched Blockchain Creative Labs’ digital marketplace.
At the time of that announcement, Fox also allocated a $100 million fund to the unit.
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