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 made known 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.