The Entertainment giant Fox has planned to invest in Berkeley based Eluvio, accelerating its adoption of NFT(Non-Fungible Tokens)/Blockchains through various entertainment and media industries. Fox is famous for investing money in platforms that are expected to get media attention in the future. Fox has not yet cleared its strategic investment, but this acquisition is expected to improve and make things better for Fox as an entertainment giant.
Some Other Blockchain Technology
Fox believes that the blockchain platform and the shift by the population towards this web will be creating wealth for the people in the future, giving them new experiences. Blockchain is used by many other cryptocurrencies, i.e. Bitcoin(BTC), Dogecoin(DOGE), Bitcoin Cash(BCH), Ethereum (ETH), and Polkadot (DOT). The use of blockchain in FinTech is considered as most effective and seamless. One of the similar concepts, i.e. Decentralized Finance, has appeared in the market, which ensures a more transparent and efficient system of financial services.
Advantage of acquiring Eluvio
The fees or Gas for Eluvio will be much lower and consistent than the other forms of technology. Whereas, selling of NFTs can be expensive as they are purely built on the Ethereum structure. The blockchain market is very volatile; financial services system ensuring and investing in Eluvio will be a good move by Fox. With the introduction of stable coins, the volatility might be controlled as it focuses on the fixed-price systems, yet crypto mining makes the control of the market complex. The blockchain in the industry is yet to be explored, i.e. many cryptocurrency regulation news in different countries appear on an everyday basis with a different structure.