iWorld
Now blockchain & NFTs come to TV
MUMBAI: For all those naysayers and fence-sitters, it is here and it is now. Blockchain and cryptocurrency are coming to the broadcast television business. US TV network Fox has announced the formation of a new non-fungible token (NFT) company called Blockchain Creative Labs. The new firm will create NFTs based on the intellectual properties it owns. Fox Entertainment CEO Charlie Collier announced this at the advertiser targeted Upfronts on Monday.
NFTs, which exist on blockchain – a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies – notched up $1.5 billion in sales in just the first quarter of 2021. Each NFT is unique, cannot be duplicated, and is equivalent to an ownership deed to digital or physical artwork, music, or digital collectibles such as IPL 2021’s best video moments. Of course, someone else may have an image or copy of the piece, but that’s not the original which of course has a big-ticket price.
They have become all the rage nowadays following the success of digital artist Mike Winkelmann aka Beeple, who sold an NFT for $69 million. They are not restricted to just art; they have extended to sports collectibles, highlight show reels, augmented reality sneakers, music, and even digital cats.
Fox is getting into the NFT game in the hope of monetizing its properties beyond television (in the crypto world) where the major revenue sources are advertising, or pay-TV, or syndication.
Blockchain Creative Labs’ first attempt at exploring the potential of TV show characters and properties is going to be with Krapopolis, an animated comedy series set in mythical ancient Greece, which is being directed by Ricky and Morty and Community creator Dan Harmon.
Fox says that its marketplace “will curate and sell digital goods, ranging from NFTs of one-of-a-kind character and background art, and gifs, as well as tokens that provide exclusive social experiences to engage and reward super fans.”
Addressing the advertiser-dominated audience during the upfronts, Collier said that as “an advertiser-focused, artist-first and animation-obsessed company, Fox is going to take advertisers into the world of blockchain-powered tokens, including NFTs…we will also help your brands connect directly with fans and enthusiasts through NFTs.”
Will other broadcasters and networks also take the plunge? Will it inspire Indian media players to explore this space? These are cryptic questions.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
