Fox Leads Investment in Blockchain Tech Firm Eluvio
The deal values the startup at $100 million.
Aug 25, 2021 at 8:49 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/OX7UCUV265DCDOOJEX7CCUYKCU.jpg)
FOX headquarters in New York City (Getty Images)
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 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 NFT business.
- Paul Cheesbrough, Chief Technology Officer and President of Digital for FOX Corporation, will join the board of Eluvio.
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