Fox Injects $100 Million to Support NFT Creators

Popular American broadcasting service, Fox, has invested over $100 million to support the creation of Non-Fungible Tokens (NFTs). The input would go a long way to support the entire development of the NFT market. The sales and administration of the NFTs will be handled by Blockchain Creative Labs. 

Reports from Bloomberg have it that content in animation arts and short-form videos would be specifically considered. The broadcasting giant believes that NFTs are a great way to reward content creators and inventors. Charles Collier, the CEO of Fox Corporation says the NFT market is a natural extension of Bentos Box’s talents. 

One of the first projects by Blockchain Creative Labs is “Krapopolis” which is a satirical animation series developed totally from blockchain technology. “Rick and Morty” is the first series of a similar kind and has creator Dan Harmon behind the show slated 2021 to 2022 programming season. The project will be co-produced by Bento Box Entertainment as well.

NFTs Continues Uptrend Movement

The NFT market is facing epic adoption so far this month. Its remarkable growth so far has spread beyond several industries and institutions. Similar to Fox news, Marvel recently announced a launch of an NFT marketplace on the Binance Smart Chain (BSC).  The development is focused on Marvel comic fans and content creators can be able to transmit assets into NFTs. 

As well, users who participate in the Marvel NFT network would be rewarded with Marvel tokens ($MV). Creating, sharing, and sending digital artworks are some of the ways to earn tokens. 

Equally, the Sotheby auction house will be selling the source code of the World Wide Web as an NFT. Sports teams are taking up the adoption of NFTs massively to offer fan-based services. 

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