Fox invests US$100 million in blockchain companies and uses NFT platform to push blockchain to the entertainment world

2021/08/2817:21:02 finance 2023

IFTNews Blockchain News: In Eluvio's latest round of financing, the American heavyweight media company Fox is one of the main participants. The company has invested up to 100 million U.S. dollars in blockchain companies. This investment is to "accelerate the adoption of the Eluvio blockchain/NFT platform" and push the blockchain to the entertainment world.

Fox explained that the investment will include the provision of blockchain technology services for Fox Entertainment’s newly created blockchain creative laboratory department and Eluvio’s Bento Box. Dan Harmon's Krapopolis series will be the first project completed in the new arrangement.

Eluvio was created by Michelle Munson and Serban Simu in 2019. Its content structure uses blockchain technology to store, monetize and distribute digital content. Eluvio's services also include content publishing, transcoding, packaging and casting of derivative NFTs. Eluvio provides a platform for "multi-tenant" publishers to quickly connect to the media market

. The relevant person in charge of Fox said, "At Fox, we believe in the blockchain and the overall transformation to a more decentralized network. Provide creators with abundant opportunities to reach consumers with exciting new experiences."

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