Fox Entertainment is launching a non-fungible token (NFT) marketplace for its hit show “The Masked Singer,” the company announced Wednesday.
The media giant is using its Blockchain Creative Labs subsidiary to release NFT packs on the cheekily titled “Maskverse.” The marketplace will run on the obscure Eluvio blockchain.
Fans of the show – where celebrities face off in a singing competition while their identities are hidden behind elaborate costumes – will be able to purchase the collectibles via credit cards or cryptocurrencies after registering for an Eluvio digital wallet.
Fox made an investment in Eluvio’s proof-of-stake technology in August citing its potential for low environmental impact, the company said in a press release.
“We’re not a merchandising arm of Fox,” Blockchain Creative Labs CEO Scott Greenberg told CoinDesk in an interview. “We’re more interested in creating a tokenized economy around the brand. We want to create shows owned by the fans and we think Web 3 can be a big part of that.”
Blockchain Creative Labs plans on releasing an additional NFT marketplace for its new show “Krapopolis,” made by “Rick and Morty” creator Dan Harmon, which premieres on Jan. 1.
While the company’s current model is to create separate marketplaces for its respective shows, the long-term vision is for its collectibles to live on one network, Greenberg told CoinDesk.