Without a community, NFTs have no value. My NFT investment thesis is based solely around the strength of an existing community, or the potential for one to emerge.”
Owning an NFT, like a CryptoPunk, and posting it online can have upsides like “recognition, respect and status” within the crypto community, Turley explains.
That’s why there’s value to buy in, rather than admire from afar, he says. “Owners receive access and benefits far beyond a traditional membership,” Turley says. “They are able to build deeper relationships, find meaningful work, and most importantly, find belonging.”
Gmoney says he has seen businesses and partnerships form at community events or on NFT Discord channels.
The new business will focus on selling and administering NFTs as well as other digital goods. In addition, Blockchain Creative Labs plans to sell animation art, video clips and other digital experiences. Furthermore, the new business will look out for more opportunities in the growing NFT space.
The co-founder and CEO of Fox’s Bento Box Entertainment animation studio, Scott Greenberg, will also be the chief executive officer of Blockchain Creative Labs. Greenberg was formerly the president and chief operating officer at Film Roman. While serving at Film Roman, Greenberg managed the production of the Simpsons.
Fox Entertainment is the latest major media company to get into the non-fungible token (NFT) game, teaming with Blockchain Creative Labs to launch “The MaskVerse,” an NFT marketplace for the singing popular competition series The Masked Singer.
The move is being called the first major NFT initiative for broadcast TV. The “MaskVerse” is both a marketplace for digital collectibles as well as a community for The Masked Singer.
It will also include a game powered by Eluvio’s “eco-friendly” blockchain.
The MaskVerse marketplace is designed to make buying, selling and trading digital goods related to The Masked Singer “more accessible and intuitive” to viewers and everyday consumers, while adhering to technical principles important to crypto enthusiasts.
Fox News owner Fox Corp. (FOX) – Get Fox Corporation Class B Report reached a deal to acquire a two-thirds stake in fintech company Credible Labs in a deal worth $340 million.
Under the terms of the deal, Fox will acquire 67% of Credible, which is listed on the Australian Securities Exchange, for $265 million in cash, a 31% premium to the company’s stock price on May 29.
Also, Fox will commit a further $75 million in capital over two years to developing Credible, which is a consumer finance marketplace.
The deal, which is expected to close by the end of the year, involves a stock exchange of 33% of Credible’s stock for a stake in a new subsidiary of Fox.
Fox Corp. has been making news for its interest in Non-Fungible Tokens [NFT]. The firm, recently revealed that it was going all into the NFT arena with a new animated comedy as well as a platform dedicated to NFTs.
In more recent news, Fox has revealed that it would be elevating its presence in the NFT space by inducing a creative fund of a whopping $100 million.
This year, NFTs managed to secure a spot under the crypto spotlight. Several celebrities had jumped on to the NFT bandwagon and Fox Corp.
seemed to be the latest to join the trend. Last month, the entertainment platform revealed that it was going to roll out a blockchain-based show called Krapopolis. This show would reportedly be led by Rick and Morty’s co-creator, Dan Harmon.
Alongside this, the platform revealed that it would venture into the NFT business with Blockchain Creative Labs.
This includes creating and sharing digital artwork, or sending NFT art as a gift.
On the same day, it was also reported that fine arts brokering giant Sotheby’s would auction off the World Wide Web source code as an NFT. Sir Tim Berners-Lee wrote the 9,555 lines of code in 1989 while working at CERN.
The winning bidder will gain access to the HTML documents that served as the original owner’s manual for the worldwide web, plus a special letter from Berners-Lee himself. Furthermore, they will acquire a 30-minute video showing the writing of the code, as well as a digital poster showing all 9,555 lines of code and the handwritten signature of Sir Tim Berners-Lee.
NFTs have also continued to make their mark on the sporting world. Most recently, blockchain fantasy football game Sorare partnered with the French Football Federation to release an NFT card series.
Fox Invests in Blockchain Distribution and Monetization Platform Eluvio
In a deal valued at $100 million, Eluvio will provide the technology powering Fox Entertainment and Bento Box Entertainment’s NFT arm, Blockchain Creative Labs.
Fox Corp. is deepening its commitment to cryptocurrency with a new investment into Eluvio, an end-to-end platform for managing, distributing and monetizing content on the blockchain, the companies said on Wednesday.
As part of the investment, which was valued at $100 million, Eluvio will provide the underlying technology powering Blockchain Creative Labs, an NFT company from Fox Entertainment and Bento Box Entertainment.
For example, S!NG platform automatically converts files to NFTs when users upload them in the app. In addition, music NFT Platform, OneOf, is encouraging singers to release tracks and distribute their own music instead of going to a record label.
NFTs have applications beyond the speculative collectible market. For example, piracy, copyright infringement, and plagiarism are significant challenges affecting the media and entertainment industry’s growth. NFTs can easilyprevent such fraudulent activities, making replicating ideas and creative work impossible.
One thing’s for sure; FOX will not just be a bystander as NFTs continue to push forward.
Naturally, fans speculate if Fox’s current pool of animated series like The Simpsons is onboard with the NFT Project. No official confirmation yet but the company admits that it is possible. Meanwhile, Bob’s Burgers is more likely to get on board quickly, as Bento Box produces that series.
How NFTs will Impact the Media Industry
Commenting on the partnership, Greenber said, “Our longstanding relationships within the creative community allow us to harness this technology to bridge together brands and producers with fans in new and interesting ways, and we’re looking forward to seizing this opportunity.”
The participation of Fox Entertainment in the NFT Industry can potentially change the game. Platforms are promoting NFTs as a way for artists to control their content and remove the involvement of intermediaries like Fox.
Nii saavad nad esindada oma ainulaadseid üksusi krüptopõhiste varadena. Spekulatsioonid on levinud, et plokiahela üksuse teostatud projektid põhinevad ka Ethereumil.
Ricki ja Morty kuulsus Dan Harmon alustab Blockchaini seadmel oma eelseisvat animeeritud komöödiasarja “Krapopolis”. Esimene seeria, mis on täielikult plokiahelal valmis tehtud, peaks saade olema satiir elust Vana-Kreekas. Blockchaini tehnoloogia tõus on tingitud selle võimest tõestada autentsust.
Blockchaini tehnoloogia on mehhanism andmete dokumenteerimiseks viisil, mis muudab häkkimise mõeldamatuks. Blockchain on põhimõtteliselt vahetuste ja tehingute digitaalne arhiiv, mida kopeeritakse üle võrkude.
Iga kord, kui uus tehing toimub, registreeritakse see arhiivides. Kuna kõik plokid on eraldi krüptitud, on plokid turvalised ja ühehäälselt kinnitatud.
Read more: Fox corp. 100m blockchain creative nftspalmeribloomberg – Krypto-NFTs