Here comes Hollywood.
In the latest sign that global media groups are embracing NFTs, Disney’s Fox Entertainment is launching a $100M creator fund to produce new offerings on blockchain platforms and NFT-related content, the company announced this week.
Dubbed Blockchain Creative Labs, the Los Angeles-based venture is a partnership between Fox Entertainment and its in-house animation studio, Bento Box Entertainment.
Blockchain Creative Labs’ first project is set to be the upcoming animated comedy series “Krapopolis,” helmed by Rick & Morty co-creator Dan Harmon. Fox is billing Krapopolis as “the first-ever animated series curated entirely on the Blockchain,” with plans to launch a digital marketplace for Krapopolis products ranging from NFTs of one-of-a-kind characters to background art to GIFs. Superfans could also buy tokens to experience exclusive events, and to engage with performers and artists behind the scenes.
“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,” said Fox Entertainment CEO Charlie Collier in a statement.
Gary Vaynerchuk’s VeeFriends NFTs, which double as tickets to a special convention, show how NFTs can double as both collectibles and access passes to public figures. The animation industry seems particularly ripe for similarly novel NFT applications, such as collectible tokens that allow their owners to help design characters on their favorite shows.
While details on how Fox specifically plans to implement their NFTs are not yet clear, you can bet other media giants are weighing their own ventures to keep pace in the NFT race.