Verify Beta to Upgrade to a Dedicated Zero-Knowledge Blockchain Built with Polygon CDK

New York, NY – June 18, 2024 – Fox Corporation ("FOX" or the "Company") (Nasdaq: FOXA, FOX) today announced the next phase of development for its open-source protocol for content verification and licensing, Verify. FOX shared that global media brand TIME has come on board as its first external publishing partner, utilizing the Verify protocol as a principal piece of its content licensing and content verification strategy.

FOX released Verify on the public Polygon Proof-of-Stake (PoS) network in January 2024 to establish the origin and history of original journalism by cryptographically signing individual pieces of content on the blockchain, which in turn allows this content to be independently verified by consumers as originating from the trusted publisher they expect, using the Verify tool. Using cryptography, Verify proves content at the source.

Additionally, Verify establishes a technical bridge between media companies and AI platforms. With its Verified Access Point, Verify introduces the possibility of creating new commercial opportunities for content owners by utilizing smart contracts to set programmatic conditions for access to content.

To date, over 300,000 pieces of content from FOX Sports, FOX News, FOX Business, and FOX Television Stations have been signed to the Verify content graph, including both articles and images.

"In TIME, we have found a partner that shares our AI-optimism as well as our commitment to protecting brand equity and authenticity while delivering our content in new and meaningful ways. FOX and TIME are brands that consumers trust, and we look forward to working together to continue to evolve Verify in a way that empowers consumers and content producers and allows this ecosystem to flourish," said Melody Hildebrandt, Chief Technology Officer, Fox Corporation.

"At TIME, we are committed to advancing our mission of providing trusted journalism for our global audience of 120 million people by embracing new innovations and pioneering emerging technologies—from blockchain to AI. TIME is proud to join FOX's Verify as an authenticated source of fact-based journalism at a time when access to trusted information is more important than ever," said TIME Chief Operating Officer Mark Howard.

Based on the positive response and early success, FOX will transition Verify beta from the Polygon PoS network to an independent zero-knowledge (ZK) blockchain on Ethereum using Polygon CDK (Chain Development Kit). Working with Gelato as an implementation provider, Verify will now operate as a ZK-powered blockchain dedicated to content verification. This advanced technology empowers developers to create projects that transparently prove authenticity, enabling faster, easier, and more affordable interactions.

The protocol is open source, with developers and users invited to contribute or fork the source code. Verify was originally developed in-house by the FOX Emerging Technology team but will lean on Gelato to implement a dedicated chain with Polygon CDK.

ABOUT FOX CORPORATION

Fox Corporation produces and distributes compelling news, sports, and entertainment content through its primary iconic domestic brands, including FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations and Tubi Media Group. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships, and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.

ABOUT TIME

TIME is the 101-year-old global media brand that reaches a combined audience of over 120 million around the world through its iconic magazine and digital platforms. With unparalleled access to the world's most influential people, the trust of consumers and partners globally, and an unrivaled power to convene, TIME's mission is to tell the essential stories of the people and ideas that shape and improve the world. Today, TIME also includes the Emmy Award-winning film and television division TIME Studios; a significantly expanded live events business built on the powerful TIME100 and Person of the Year franchises and custom experiences; TIME for Kids, which provides trusted news with a focus on news literacy for kids and valuable resources for teachers and families; the award-winning branded content studio Red Border Studios; the website-building platform TIME Sites; the sustainability and climate action division TIME CO2; the e-commerce and content platform TIME Stamped, and more.

ABOUT POLYGON LABS

Polygon Labs is a software development company building and developing an aggregated blockchain network that provides cross-chain interoperability via the AggLayer, a decentralized protocol on Ethereum that unifies user bases and liquidity for all connected chains. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols, including Polygon PoS, Polygon CDK, and Polygon zkEVM, as well as Polygon Miden, which is in development.

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Press Contact:

Fox Corporation
Lauren Townsend
310-369-2729
lauren.townsend@fox.com