One of the largest media companies in the world is bringing their content onto the blockchain. But, why?
What’s happening:
- Fox Corporation has announced they have brought TIME onto their newly launched Verify Protocol as a content and publishing partner
- TIME is the first company outside of the Fox Corporation to partner with the Verify Protocol
The big idea:
- Fox Corporation incubated the Verify Protocol with Polygon Labs to use cryptography to sign media onto the blockchain
- Once media is signed onto the blockchain, users know it has been independently verified and is able to be legally licensed
- Fox Corporation plans to use the Verify Protocol in partnership with artificial intelligence startups who need to train their models on large amounts of data and content
Why it matters:
- Large language models and artificial intelligence startups have caused a lot of controversy and legal concerns over illegally training their technology on data which they do not own or posses a license to
- Fox Corporation is aiming to be a first mover in licensing media to artificial intelligence startups by leveraging smart contracts and blockchain technology
Going deeper:
- The race to build out meaningful startups in artificial intelligence has continued to accelerate, with Elon Musk recently raising one of the largest ever rounds for xAI and specialized cloud computing company CoreWeave striking one of the largest ever debt deals for GPU accessibility
