Fox Corporation leads $100 million Series A for Eluvio blockchain startup

The American media company Fox Corporation acted as the lead investor in a $100 million Series A financing round for Eluvio, a provider of a blockchain platform.

@EluvioLIVE So excited to announce https://t.co/aSFIwBssdD

— Michelle Munson (@Michell25746983) August 25, 2021

As part of the deal, the size of which was not disclosed, Eluvio will provide the core technology platform for Blockchain Creative Labs, the recently launched joint NFT venture between Fox Entertainment and Bento Box Entertainment. Fox Corporation’s CTO Paul Chizbro will join the startup’s board of directors.

The first project on the platform will be the upcoming animated series ‘Krapopolis’ from Dan Harmon, the creator of Rick and Morty.

Eluvio was founded in 2019 by Michelle Munson and Serban Simu. The Eluvio Content Fabric blockchain network is designed for owner-controlled storage, distribution and monetization of digital content, including the issuance of NFT.

“We believe tokenized media on the blockchain open up great opportunities. This represents a new era in which technology and entertainment will propel each other,” said Scott Greenberg, CEO of Blockchain Creative Labs.

The company will launch a marketplace for issuing and selling digital goods for the the upcoming animated series ‘Krapopolis’, including NFTs with unique characters, background images and GIFs.

In May 2021, Fox Entertainment created a $100 million fund for investments in the NFT space.

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