Fox Corporation Nasd and Eluvio, a global pioneer for managing, distributing, and monetizing premium content via blockchain, announced today that FOX has made a strategic investment in Eluvio to accelerate the adoption of Eluvio’s platform across the broader media and entertainment industry.
As part of the investment, the companies also announced that Eluvio will provide the underlying technology platform for Blockchain Creative Labs, FOX Entertainment’s and Bento Box Entertainment’s recently launched NFT business and creative unit.
Paul Cheesbrough, Chief Technology Officer and President of Digital for Fox Corporation, will also join Eluvio’s Board of Directors.
Launched in 2019, Eluvio is led by Emmy Award-winning technologists, Michelle Munson and Serban Simu, and the company’s Eluvio Content Fabric is an advanced, open protocol blockchain network purpose-built for owner-controlled storage, distribution, and monetization of digital content at scale. It provides live and file-based content publishing, transcoding, packaging, sequencing, dynamic and static distribution, and minting of derivative NFTs–all backed by blockchain contracts providing proof of ownership and access control. Eluvio LIVE, powered by the Eluvio Content Fabric, is a multi-tenant turnkey platform for publishers that provides 4K streaming and ticketing of events with media marketplaces. Fox Corporation’s investment marks the completion of Eluvio’s Series A round at a valuation of $100 million.
In May, FOX Entertainment and Bento Box entered the NFT business with the formation of Blockchain Creative Labs and a $100 million creator fund to identify growth opportunities in the space. As such, Blockchain Creative Labs will launch a dedicated digital marketplace for Emmy -winning creator Dan Harmon’s upcoming animated comedy, KRAPOPOLIS, marking the first animated series to be curated entirely on the blockchain. The company will manage and sell digital KRAPOPOLIS goods, including NFTs of one-of-a-kind character and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward super fans. Set in mythical ancient Greece and centered on a flawed family of humans, gods and monsters that tries to run one of the world’s first cities without killing each other, KRAPOPOLIS is fully owned and financed by FOX Entertainment and will be produced by Bento Box.