Fox Corp., a major U.S. media conglomerate, has introduced a new blockchain platform named Verify. This platform is designed to assist media companies in tracking the online usage of their content, marking a significant development in the intersection of media and technology.
- Content Origin Tracking: Verify uses blockchain technology to cryptographically sign media content, establishing its origin and history. This ensures that media companies can accurately track how their content is being utilized on the internet.
- Licensing Content to AI Companies: Fox Corp. plans to use Verify to license its vast intellectual property, including content from Fox News, Fox Sports, and Fox Entertainment, to AI companies. This approach is expected to provide leverage in negotiations with companies that use content to train large language models (LLMs) like ChatGPT or Bard.
- Collaboration and Development: Developed internally by Fox Corp’s tech team in collaboration with Polygon Labs, Verify allows media companies to register their content on the platform. By verifying their content, these companies can then grant usage rights to AI platforms.
Integration and Tool Launch
- Third-Party Publishing Systems: Fox Corp. has built integrations with third-party publishing systems, allowing media companies to automatically assign their content to the Verify protocol. This seamless integration will likely enhance the adoption of the Verify platform across different media outlets.
- New Verify Tool: Alongside the public debut of Verify, Fox Corp. is launching a tool that enables media companies and creators to check if a piece of content has been verified on the Verify blockchain protocol.
Beta Launch and Content Verification
- Private Beta Launch: Fox quietly launched a beta version of Verify in August, beginning with content verification during Fox News’ Republican primary presidential debate last year. Since then, over 80,000 pieces of content from Fox Corp.’s news brands have been assigned to the system.
Fox Corp.’s Blockchain Endeavors and Future Prospects
- History of Blockchain Exploration: Fox has previously experimented with blockchain and web3 technologies, including significant investments in blockchain tools for its entertainment division in 2021.
- Commercialization and Adoption: While the specifics of commercializing and licensing content through Verify are not yet clear, Fox’s unique approach to content negotiation with AI firms stands out. It remains to be seen how Fox will set pricing and terms and whether its competitors will adopt its protocol.