Entertainment giant Fox has made a strategic investment in Berkeley, Calif.-based Eluvio to “accelerate the adoption of Eluvio’s blockchain/NFT platform” across the media and entertainment industry.
- Terms of the deal were not disclosed, but Fox said its investment marks the completion of Eluvio’s Series A round that values the company at $100 million.
- Eluvio Content Fabric is a blockchain network “for owner-controlled storage, distribution, and monetization of digital content at scale,” the companies said in a press release.
- As part of the deal, Eluvio, which was started in 2019, will provide the technology platform for Blockchain Creative Labs, FOX Entertainment and Bento Box Entertainment’s recently launched non-fungible token (NFT) business.
- Paul Cheesbrough, chief technology officer and president of Digital for Fox Corporation, will join the board of Eluvio.
Source: Coindesk
