Fox Invests $100M in NFT TV Shows

Executives at Fox Corporation say they will invest $100 million in a new series of experimental NFT-based TV shows. To kick off this new division, Fox enlisted “Rick and Morty” co-creator Dan Harmon to create an NFT show called “Krapopolis”.

Fox’s new Blockchain Creative Labs (BCL) will partner with Bento Box Entertainment to develop these new NFT TV programs. BCL is also responsible for Fox’s WWE “Moonsault” NFT market.

In a recent interview with CoinDesk, Fox said it would use the $100 million to create a robust “creative community” and promote a healthy “brand ecosystem.” The media giant also cited the use of these funds for “benefits” related to the emerging NFT communities.

As Rarity Sniper previously reported, “Krapopolis” will be an animated comedy set in ancient Greece. According to initial reports, viewers could collaborate on “character development” and enjoy exclusive benefits by purchasing an NFT.

New details suggest Fox Entertainment will drop its “Krapopolis” NFTs on the Ethereum blockchain. “Krapopolis” is slated to premiere in fall 2022, but Fox says it will release more details about its NFT plans soon.

Media giants are leaning towards “NFT Storytelling”

Given the popularity of Dan Harmon and the reach of Fox Entertainment, “Krapopolis” is set to become one of the greatest experiments in “NFT storytelling.” However, many prominent celebrities have already started exploring the possibilities of including Web3 in TV shows.

For example, actress Mila Kunis is working on an animated sitcom called “The Gimmicks,” which gives fans a say in the direction of the show. Anyone with a “Gimmick” NFT could participate in the plot development of each episode.

“The Gimmicks” also allow NFT holders to create fanfiction associated with their NFT avatars. If the show’s producers like what they’re reading, viewers can see their NFT appear in an upcoming episode.

More recently, actor Rob McElhenney launched a unique web3 writing community called ‘Adimverse’. Anyone who has an NFT for “Adimverse” can collaborate on new creative projects and enjoy a percentage of the royalty rights.

Interestingly, many advanced NFTs are also steadily making their way into mainstream movies and TV shows. For example, Coinbase will release short films based on the Bored Ape Yacht Club on NFT.NYC. Actress Reese Witherspoon also says she is working on a series based on the World of Women NFT collection.

Some PFP NFT collections even have official Hollywood media partners. Madonna’s manager Guy Oseary now manages the World of Women and Bored Ape Yacht Club collections. The Doodles have signed a deal with Billboard’s Julian Holguin, and the Cool Cats are partners with the CAA.

Web3 and NFTs certainly change how much directors, filmmakers and producers think about storytelling.

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