July 25, 2021

Significant Media Wants In: CNN and Fox Are Entering NFTs

2 min read

In the past year, we’ve seen top-tier brand names, major league sports groups, celebrities and so forth accept the NFT landscape. Now, major standard media business are seeing the light. This week, CNN and Fox are beginning their own respective NFT tasks.

The CNN NFT: Showcasing Newsworthy Moments CNN has actually revealed their first NFT project,” Vault By CNN: Moments That Changed United States”. The business will tokenize significant minutes in contemporary history. While CNN has been quiet about what particularly those moments will involve, a bulk of speculation has actually resulted in topics such as world records and presidential history.

CNN will leverage the FLOW blockchain, a progressively popular chain for NFT jobs such as NBA Top Shot. The job will launch towards the end of June and be released within six weekly versions.

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Fox’s $100M NFT Fund Fox this week revealed a$100M NFT fund, managed by NFT and now Fox subsidiary Blockchain Creative Labs. The fund will be aimed towards empowering developers to “construct, launch, manage, and sell” NFTs. Fox Broadcasting is likewise teaming up with Bento Box Entertainment (BBE) for the project; Bento Box is the manufacturer of Fox-televised programs such as “Bob’s Burgers”. Accordingly, speculation is abound concerning what sort of NFT jobs might emerge from the media giant – – such as execution of Fox IP like “The Simpsons” and other animated series. BBE was acquired by Fox in 2019. “Rick and Morty” creator Dan Harmon will likewise be leading a blockchain-related show entitled “Krapopolis”. Fox and partners will likely be leveraging the ethereum blockchain.

Charlie Collier, Fox Entertainment’s CEO, has actually recommended that the brand-new job might bring an entire brand-new vertical to BBE’s line of business; Collier stated that blockchain technology has actually reinforced a “brand-new market that is a natural extension of Bento Box’s skills, one that permits the team to support, raise and reward innovators and artists in brand-new and creatively exciting ways”.

 FLOW will be the blockchain of choice for CNN's first NFT job; the FLOW token has actually seen a substantial pullback since hitting all-time highs in current months.|Source: FLOW-USD on TradingView.com

What It Means For Major Media

What major media business in fact consider NFTs is challenging to put a finger on; CNN has formerly said that the NFT bubble might be “breaking already”, in spite of popular projects and artists, such as Beeple or CryptoPunks (to name a few) still yielding huge sales numbers.

Fox and CNN are basically the very first significant media companies to take a leap into NFTs, with the only exception being Time Magazine; Time introduced ten tokenized publication covers previously in the year that have produced over $300,000 in sales.

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Included image from Pixabay, Charts from TradingView.com