Since the crash came in tandem with a roughly 40 percent drop in Bitcoin prices , it was unclear whether the crash reflected a loss of interest in NFTs in particular or was mirroring the volatility of the crypto market in general, or a bit of both.
Fox is partnering with Bento Box Entertainment on the project and has now named Bento Box co-founder and CEO Scott Greenberg as CEO of the new company.
Fox’s current animated series are not yet on board with Fox’s NFT project, but sources say the company is, quite naturally, open to working with them.
The appeal of NFTs is that the owner holds what might be considered a definitive digital “official” version of an item that can then increase in value and be traded with others – like electronic baseball cards.