{"id":8644,"date":"2021-08-26T12:56:34","date_gmt":"2021-08-26T11:56:34","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8644"},"modified":"2021-08-26T12:56:44","modified_gmt":"2021-08-26T11:56:44","slug":"fox-corporation-invests-in-eluvio-to-boost-its-nfts-plan","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/fox-corporation-invests-in-eluvio-to-boost-its-nfts-plan\/","title":{"rendered":"Fox Corporation invests in Eluvio to boost its NFTs plan"},"content":{"rendered":"\n
Fox Corporation, a leading American media giant<\/a>, is diving deeper into the NFT ecosystem and has made strategic investment in Eluvio, a digital content management startup, to assist expand Fox's non-fungible token business.<\/h5>\n\n\n\n
\"Fox<\/figure>\n\n\n\n

According to a press release dated Aug. 25, Fox Corporation's investment completes Eluvio's Series A funding round at a valuation of $100 million. Eluvio is a blockchain-based startup \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>that manages, distributes, and monetizes premium content.<\/p>\n\n\n\n

Eluvio will supply technology for Fox Entertainment and Bento Box Entertainment's newly created NFT business and creative unit under the new arrangement, according to the statement.<\/p>\n\n\n\n

In mid-June, Fox announced a $100 million creative branch called Blockchain Creative Labs, which will provide content producers, intellectual property owners, and advertising partners with blockchain solutions for building, launching, managing, and selling NFTs.<\/p>\n\n\n\n

Eluvio's Content Fabric open protocol blockchain network was designed for large-scale owner-controlled digital<\/a> content storage, delivery, and monetization.<\/p>\n\n\n\n

The platform allows users to post live and file-based content, as well as mint NFTs using smart contracts that give proof of ownership and access control.<\/p>\n\n\n\n

Eluvio's technology will be used by Fox and Bento to reach a larger audience of content creators, media partners, and advertising clients.<\/p>\n\n\n\n

It will allow the companies to introduce and market new NFT collections based on popular content and television series.<\/p>\n\n\n\n

Eluvio's blockchain has also received accolades for being environmentally friendly<\/a>, as it avoids energy-intensive mining in favor of a more efficient (but less decentralized) proof-of-authority consensus.<\/p>\n\n\n\n

Paul Cheesbrough, Fox Corporation's Chief Technology Officer and President of Digital, praised the technology:<\/p>\n\n\n\n

\u201cAt FOX, we believe that the blockchain, and the overall shift towards a more decentralized web, is providing creators with a wealth of opportunities to reach consumers with exciting new experiences.\u201d<\/p><\/blockquote>\n\n\n\n

Scott Greenberg, CEO of Blockchain Creative Labs and co-founder of Bento Box Entertainment, remarked that tokenized media on the blockchain presents a significant opportunity<\/a>, adding, “we will create this business as we collaboratively define the future for the NFT industry.”<\/p>\n\n\n\n

Fox revealed in May that it was collaborating on an NFT marketplace for Krapoplis, an animated comedy set in mythological ancient Greece, with Rick and Morty co-creator Dan Harmon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fox Corporation, a leading American media giant, is diving deeper into the NFT ecosystem and has made strategic investment in Eluvio, a digital content management startup, to assist expand Fox’s non-fungible token business. According to a press release dated Aug. 25, Fox Corporation’s investment completes Eluvio’s Series A funding round at a valuation of $100 […]<\/p>\n","protected":false},"author":12,"featured_media":8652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62],"tags":[4039,4038,470],"class_list":["post-8644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft-news","tag-eluvio","tag-fox-corporation","tag-nfts"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Fox-Corporation-invests-in-Eluvio-to-boost-its-NFTs-plan.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8644"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8652"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}