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Fox’s plans in the digital collectibles space are beginning to get a little clearer.
The broadcast network will launch its first set of non-fungible tokens (NFTs) Wednesday, tied to its celebrity singing competition The Masked Singer. The company will also launch a marketplace and community in which users can buy, sell or trade Masked Singer NFTs, which it is calling The MaskVerse.
Users will be able to claim a free NFT of the show’s mascot “Miss Masky,” with the company set to release “Mask Packs” throughout the season, which collectors can buy and open. The packs will cost $20 and contain three NFTs. Users who collect complete sets of NFTs will get digital prizes and in some cases real-world rewards or experiences.
The community (which will also include a dedicated group on the social chat app Discord) will also be able to vote on the character they think will be eliminated, with those who guess correctly eligible to buy special “gold” mask packs.
While NFTs have become a source of interest to Hollywood in recent months, Fox has been particularly aggressive in exploring the space. In June, Fox announced the creation of a $100 million “Blockchain Creative Labs,” which would explore the space. The Masked Singer project is the first one to come out of that project. The network is also launching an animated series “curated entirely on the blockchain” in Dan Harmon’s Krapopolis.
Much like The MaskVerse, Fox says it will create a marketplace for buying, collecting and selling Krapoplis NFTs. The company also plans to roll out a number of other NFT-related projects in the coming months.
But Fox isn’t alone in exploring the NFT space. On Wednesday morning ViacomCBS announced plans to sell NFTs based on intellectual property from Paramount Pictures, Nickelodeon, Comedy Central, CBS and other properties. And in July, Lionsgate said it would sell NFTs based on its IP like Mad Men and John Wick through a partnership with the NFT platform Autograph. CNN, meanwhile, has been selling NFTs of some of its historic news coverage.
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