Report on Shemaroo

Now blockchain & NFTs come to TV

Fox is haring into the non-fungible token market with Blockchain Creative Labs.


MUMBAI: For all those naysayers and fence-sitters, it is here and it is now. Blockchain and cryptocurrency are coming to the broadcast television business. US TV network Fox has announced the formation of a new non-fungible token (NFT) company called Blockchain Creative Labs. The new firm will create NFTs based on the intellectual properties it owns. Fox Entertainment CEO Charlie Collier announced this at the advertiser targeted Upfronts on Monday.

NFTs, which exist on blockchain - a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies - notched up $1.5 billion in sales in just the first quarter of 2021. Each NFT is unique, cannot be duplicated, and is equivalent to an ownership deed to digital or physical artwork, music, or digital collectibles such as IPL 2021’s best video moments. Of course, someone else may have an image or copy of the piece, but that’s not the original which of course has a big-ticket price.

They have become all the rage nowadays following the success of digital artist Mike Winkelmann aka Beeple, who sold an NFT for $69 million. They are not restricted to just art; they have extended to sports collectibles, highlight show reels, augmented reality sneakers, music, and even digital cats.

Fox is getting into the NFT game in the hope of monetizing its properties beyond television (in the crypto world) where the major revenue sources are advertising, or pay-TV, or syndication.

Blockchain Creative Labs' first attempt at exploring the potential of TV show characters and properties is going to be with Krapopolis, an animated comedy series set in mythical ancient Greece, which is being directed by Ricky and Morty and Community creator Dan Harmon.

Fox says that its marketplace “will curate and sell digital goods, ranging from NFTs of one-of-a-kind character and background art, and gifs, as well as tokens that provide exclusive social experiences to engage and reward super fans.”

Addressing the advertiser-dominated audience during the upfronts, Collier said that 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…we will also help your brands connect directly with fans and enthusiasts through NFTs.”

Will other broadcasters and networks also take the plunge? Will it inspire Indian media players to explore this space? These are cryptic questions.

Latest Reads

ALTBalaji subscription up by 42% y-o-y in FY21

KOLKATA: ALTBalaji seems to be driving the growth of Balaji Telefilms with a 42 per cent growth in subscriptions for FY21. The platform sold a total of 4.7 million subscriptions for the year, compared to Rs 3.4 million in FY20.

iWorld Over The Top Services
HiPi launches on android, to be available for ioS soon

Short video platform HiPi has announced a separate app in the user-generated content (UGC) market. After being a part of Zee5 as a beta version since its launch in 2020, ‘HiPi ka naya adda’ will now be available for Android users from 18 June and iOS users from 22 June. 

iWorld Social Media
MX TakaTak co-powers the ninth edition of Miss Diva

KOLKATA: Promising users compelling content across categories, MX TakaTak on Friday announced its association with the ninth edition of Miss Diva as the Co-powered by Sponsor for this coveted pageant. The nationwide hunt to select representatives from across the country commenced on 11 June and...

iWorld Over The Top Services
Nazara Technologies to acquire gaming agency Publishme

Nazara Technologies Limited announced that it has signed a binding term sheet to acquire a majority stake in Arrakis Tanitim Organizasyon Pazarlama San. Tic. Ltd. Sti (Publishme), the largest mobile game publishing agency in the Middle East and Turkey.

iWorld Over The Top Services
Snapchat premieres new Creator Shows with Anushka Sen & Vir Das

New Delhi: Snap has announced the launch of its first local and original Indian Creator shows produced by Qyuki and featuring television actress Anushka Sen and comedian Vir Das. Powered by relatable characters made for Snapchat’s mobile first audience, the shows will air exclusively on Snapchat...

iWorld Social Media
Zee5 unveils new brand campaign to promote Rs 499 subscription plan

As Zee5 keeps adding new content to its portfolio, it is also revising its annual subscription package to get more eyeballs. It has priced down its annual subscription to Rs 499 from Rs 999 for a limited period.

iWorld Over The Top Services
Amazon Studios launches inclusion policy & playbook

This is one production studio which is putting its money where its mouth is. And it should even get a nod of appreciation from the Indian ministries of information and broadcasting, electronics and information technology, and even education.

iWorld Over The Top Services
discovery+ unveils special content line-up for sports fans

With the sporting action on a pause, fans are scrambling for ways to enjoy their favourite sports. Streaming platform discovery+ on Wednesday, unveiled its new content line-up with a host of gripping documentaries to keep the fans engaged, as they wait for the real action. 

iWorld Over The Top Services
SonyLIV appoints Sreedhar Reddy Komalla as Telugu Content head

Kolkata: SonyLIV has appointed Sreedhar Reddy Komalla as Telugu Content head, Digital Business. In his new role, Reddy will primarily focus on leading the expansion plans of the Telugu vertical of SonyLIV for users across markets.

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required