Fox — the American broadcasting giant — is launching a non-fungible token (NFT) marketplace inspiringly named Blockchain Creative Labs.
In a strategic PR move, Fox claimed its new TV show Krapopolis — spearheaded by Rick and Morty‘s Dan Harmon — is the first to be “curated entirely on the blockchain.”
“Fox is going to take advertisers into the world of blockchain-powered tokens, including NFTs,” claimed Fox chief exec Charlie Collier in a Monday presentation (via Hollywood Reporter).
But it’s worth noting Harmon’s Krapopolis isn’t the first to flog NFTs. Starz’ American Gods series has sold several on Curio before.
It’s merch, but on the bLoCkChAiN
Blockchain Creative Labs will host sales of unique Fox-related “art and GIFs,” as well as “tokens that provide exclusive social experiences to engage and reward super fans,” the company stated.
Luckily, it appears Fox fans can already start rewarding themselves with NFTs.
The Fox NFT marketplace appears to be a work in progress, but currently hosts three ‘series’ — seemingly indistinguishable were it not for different colour schemes.
A code is currently required to access those Harmon-esque NFTs, which are likely teasers for what’s in store over the coming weeks.
NFT art sales are way down
Fox’ announcement might be perfectly timed from a PR perspective — what with all the NFT hype of the past few months.
But the market is a far cry from what it was just a month ago. In fact, the dollar value of NFT sales dropped 25% over the past month.
[Read more: Rick and Morty crypto art just sold for $150K]
NFTs tied specifically to artwork have been hit particularly hard. The dollar value spent on crypto-art is down almost two thirds (63%).
From March 18 to April 18, nearly $68 million was spent by NFT art collectors. But sales are yet to reach $25 million over the past month.