Fox Corporation, the media giant behind Fox News, Fox Sports, and Tubi Media Group, has just announced the launch of its own blockchain platform to track its media content online.
Verify is developed in collaboration with Polygon Labs, a software development firm that specializes in building solutions on the Polygon network, a scalable and low-cost blockchain platform.
Verify has been deployed to track the usage and authenticity of the media content of Fox Corp, and to address the challenges posed by the rise of artificial intelligence (AI) tools and media, which can create and manipulate content without proper attribution or verification.
According to Fox Corporation, Verify will enable businesses to register and cryptographically sign their media content on the blockchain, creating a verifiable record of its provenance and history.
Verify will also negotiate licensing deals with AI firms that use Fox Corporation’s intellectual property, to ensure fair compensation and compliance.
Polygon Labs’ CEO, Sandeep Nailwal, said in a tweet:
Today is the public beta release of Verify, an open source protocol that makes it easy for media companies to register content, like images, videos, and text, so that consumers can confirm their authenticity.
Built by Fox Technology on Polygon PoS due to low fees and fast transactions, this protocol could be an important tool for helping consumers…
According to Polygon Labs, Verify has already amassed nearly 90,000 pieces of signed content across Fox Corporation’s brands, including news articles, images, videos, and podcasts.
Fox Corporation is not the only media company that is exploring the potential of blockchain and NFTs.
In 2021, Time Magazine launched its own NFT marketplace, TimePieces, an NFT community for creators and artists.
The media industry is undergoing a transformation as blockchain and NFTs offer new ways to create, distribute, and monetize content.
Fox Corporation’s Verify platform is a testament to the innovation happening in this space, and a sign of the growing adoption of blockchain technology in the mainstream.