Fox is jumping into the world of digital goods by launching a new company that will oversee a marketplace for NFTs, according to a report from the Hollywood Reporter.
The marketplace will start by selling NFTs for a new Fox animated show called Krapopolis developed by Dan Harmon, the co-creator of Rick and Morty. And to make things even more crypto-related, Krapopolis will be “curated entirely on the blockchain.” What the hell does that mean? That part isn’t clear yet.
The new NFT company, dubbed Blockchain Creative Labs, was announced on Monday during Fox’s upfront — a presentation put on for advertisers who get a sneak peek at upcoming shows. And while Krapopolis isn’t the first TV show to sell NFTs (American Gods did as well), it’s clear Fox wants to see just how lucrative the new field of non-fungible tokens can be.
“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 on Monday, according to 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. With and for you, Fox will help art meet brands meet technology,” Collier continued.
Krapopolis will reportedly be a comedy about a mythical version of ancient Greece focusing on a “flawed family” of gods, monsters, and humans, which sounds pretty great. But here’s hoping the whole NFT thing doesn’t ruin our enjoyment of the show.
Again, it’s not clear what it means for a TV show to be “curated entirely on the blockchain.” But as Collier explained, this new company isn’t just for selling NFTs related to the new Harmon show. Fox apparently sees this as a new NFT hub where people can buy non-fungible tokens from all kinds of different pop culture-themed environments.
BlockchainCreativeLabs.com currently redirects to a top level domain from eluv.io but the three main buttons on the page redirect to something that requires a code. It appears to be a work in progress.
Still confused about what an NFT might be? The single best explanation anyone has ever given was on Tumblr:
imagine if you went up to the mona lisa and you were like “i’d like to own this” and someone nearby went “give me 65 million dollars and i’ll burn down an unspecified amount of the amazon rainforest in order to give you this receipt of purchase” so you paid them and they went “here’s your receipt, thank you for your purchase” and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said “mona lisa currently owned by jacobgalapagos” so if anyone wants to know who owns it they’d have to find this specific closet in this specific hallway and look behind the correct brooms. and you went “can i take the mona lisa home now?” and they went “oh god no are you stupid? you only bought the receipt that says you own it, you didn’t actually buy the mona lisa itself, you can’t take the real mona lisa you idiot. you CAN take this though.” and gave you the replica print in a cardboard tube that’s sold in the gift shop. also the person selling you the receipt of purchase has at no point in time ever owned the mona lisa.
unfortunately, if this doesn’t really make sense or seem like any logical person would be happy about this exchange, then you’ve understood it perfectly
Do you get it? Does it sound stupid? Well, Fox is about to try making that stupidity into a very lucrative business model. And only time will tell whether that’s a good decision. Dumber things have made people a lot of money.