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Fox Launches New $100 Million Funds for NFT Creators

American broadcasting giant is set to pout about $100 million into a non-fungible token (NFT) creation fund. These funds are to support creators in the digital art space such as advertising partners, IP owners, and content creators.

Per an announcement released yesterday, this $100 million funding is the first of many that will be released by fox through its blockchain creative labs initiative which was launched last month.

Fox’s blockchain creative labs will be responsible for the sales and management of NFT-related content, especially short-form videos, animation art, and other similar products. Well, the lab has launched its novel project, Krapopolis – the first satirical animated series developed solely with blockchain technology. The series scheduled to air during the 2021/22 programming season will be managed by Dan Harmon, the man behind “Rick and Morty.”

The series will be co-produced by bento box entertainment, a fox animation studio. One of the executives of blockchain creative labs is the CEO and co-founder of bento box entertainment, Scott Greenberg.

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An Eventful June for NFT

So far, this month has been quite eventful for the NFT community. Fox’s $100 million funding for NFT creators is the latest in the exciting news for the NFT community. Per various news outlets, there are indications that a decentralized marvel NFT marketplace is set to be launched on Binance Smart Chain (BSC) soon.

With a firm focus on marvel comics fans, this marketplace will enable creators to turn their creativity into digital art. A side benefit for users is that each of their interactions on the platform can earn them marvel fan tokens (SMV). Interactions can be as simple as sending digital artworks as a gift or creating and sharing NFTs.

On June 15, Sotheby’s (top art brokerage firm) revealed that it would be auctioning the NFT for the world wide web source code. The source code (approximately, 9,600 lines) was written by Sir Tim Berners-lee in 1989 while still an employee at Conseil Européen pour la Recherche Nucléaire (CERN), which in English means European Council for Nuclear Research.

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The winner of the bid will receive a handwritten letter from Berners-Lee and the HTML documents which were used as the original owner’s manual for the worldwide web. The winner will also be entitled to a 30-minute video of Berners-Lee writing the code, a digital poster that contains all codes’ lines, and a written signature of sir tim Berners-Lee.

This source code sale will further enhance the legitimacy of NFT as Berners-lee is famously known for refusing to patent his invention. In response to a question from the BBC on why he is selling his code as an NFT, Tim said, “it feels naturally right for me as a computer scientist and someone who has been writing codes for many years. I would love to have my autograph on a full digital artifact.”

The NFT Market Keeps Expanding

NFTs keep expanding into various industries rapidly, including the sporting arena. The latest is the partnership between Square (a blockchain fantasy football game) and the french football association to issue an NFT collection.

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The French national team will be the first team to release an NFT card series.

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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