Media and entertainment house Fox is launching a non-fungible token (NFT) company, Blockchain Creative Labs, and a blockchain-based animated series, "Krapopolis."
Krapopolis is an upcoming comedy set created by Dan Harmon, who created the animated science fiction show Rick and Morty. It's 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" and is being produced by Fox subsidiary Bento Box Entertainment.
As for its NFT business, Fox will launch a marketplace for Krapopolis that will offer a range of digital items, from NFTs representing character, background art and GIFs to tokens designed to reward fans who engage with the service.
Fox hasn't disclosed many details about its NFT business yet, including what blockchain network it plans to use to create and sell NFTs. "Not to go too far into it today, but as an advertiser-focused, artist-first and animation-obsessed company, Fox is going to take advertisers into the world of blockchain-powered tokens, including NFTs," Fox Entertainment CEO Charlie Collier told advertisers during the company's Upfronts presentation on Monday, reported The Hollywood Reporter.
"And Dan's series, currently entitled Krapopolis, will be the first-ever curated entirely on the blockchain. And just as we're doing this for our own animation, we will also help your brands connect directly with fans and enthusiasts through NFTs," he said.
NFTs are unique digital items on a blockchain. They have soared in popularity lately, but their weekly volumes, users and transactions, have all declined from their peak in February, according to The Block's Data Dashboard.