Fox Entertainment and Emmy-winning animation studio Bento Box Entertainment are entering the non-fungible token (NFT) market with the launch of a new unit, Blockchain Creative Labs.
The new division will provide content creators, IP owners and advertising partners end-to-end blockchain ecosystem solutions to build, launch, manage and sell NFT content and experiences, fungible tokens and other digital assets.
Fox and Bento Box have also formed a $100 million creator fund that Blockchain Creative Labs will manage with the goal of identifying opportunities in the fast-growing NFT space.
The new unit will be based in Los Angeles and operate under the Fox Entertainment banner. Bento Box co-founder and CEO Scott Greenberg (pictured) will serve as CEO of Blockchain Creative Labs, overseeing the division as well as the content fund. He’ll continue in his role at Bento Box and report to Fox CEO Charlie Collier.
Fox announced at its upfronts last month that Blockchain Creative Labs will create a digital marketplace for its upcoming animated comedy Krapopolis, from writer and producer Dan Harmon (Rick & Morty, Community), making it the first animated series to be curated on the blockchain. The company will manage and sell digital goods from the new series, including NFTs of artwork and more.
“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 Collier in a release. “Our new company, Blockchain Creative Labs, also under Scott and Bento Box, will help shape and grow the fast-evolving world of creatively-led digital goods and tokens.”
Fox says more announcements about future Blockchain Creative Labs-driven content and partnerships will be announced in the coming weeks.