Fox Entertainment has announced that the company is launching a marketplace for non-fungible tokens (NFTs) for its hit show, The Masked Singer.
The media giant is using its Blockchain Creative Lab subsidiary to shamelessly release NFT packages in a brazenly named “Maskverse”. The marketplace will run on the obscure Eluvio blockchain.
Fans of the show – where celebrities face off in singing competitions while their identities are hidden behind elaborate costumes – will be able to purchase collectibles via credit card or cryptocurrency after signing up for the Eluvio digital wallet.
Fox said in a press release that it made an investment in Eluvio’s proof-of-stake technology in August, citing its potentially low environmental impact.
“We’re not the merchandising arm of Fox,” Scott Greenberg, CEO of Blockchain Creative Lab, said in an interview.” We’re more interested in creating a tokenized economy around the brand. We want to create fan-owned programming, and we think Web 3 can be a big part of that.”
Blockchain Creative Lab plans to release an additional NFT marketplace for its new show, Krapopolis, produced by Rick and Morty creator Dan Harmon, which premieres on January 1.
Greenberg told us that while the company’s current model is to create separate marketplaces for its respective shows, the long-term vision is for its collections to live on one network.