Fox, a US-based media group, has set up a $100m corporate venturing fund for digital creators as part of a new business unit, Blockchain Creative Labs.
The fund will target non-fungible token, which are assets verified by a blockchain to bring scarcity and proof of authenticity to digital industries.
Among the new unit’s first projects is Krapopolis, an animated comedy from Dan Harmon, according to newswire Bloomberg.
Scott Greenberg, co-founder and CEO of Bento Box Entertainment, a unit of Fox, will serve as CEO of Blockchain Creative Labs and be responsible for overseeing the unit and the newly formed content fund.
Charles Collier, CEO of Fox’s entertainment division, said: “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.”
