According to Foresight News, Fox Corporation, the media company behind Fox News, Fox Sports, and Fox Entertainment, has partnered with media brand TIME as the first external publishing partner for its Verify Protocol based on the Polygon network. TIME magazine will use the blockchain-based media platform as part of its content licensing and verification strategy.
In collaboration with Polygon Labs, Fox launched the open-source Verify Protocol on the Polygon Proof of Stake (PoS) network in January. The protocol aims to encrypt signatures on media content on the blockchain, allowing users to independently verify whether it comes from a trusted publisher. The Verify Protocol also seeks to establish content licensing agreements with artificial intelligence companies, covering the ways in which media companies use intellectual property and introducing potential new business opportunities by granting access to content programmatically through smart contracts.
The current Verify beta is built on the PoS network, but Fox Corporation has stated that it is working with DeFi protocol Gelato to transition to an independent zero-knowledge blockchain on Ethereum using Polygon's Chain Development Kit (CDK), specifically for content verification.