Polygon has confirmed the announcement by Fox Corporation wherein the latter is committed to making a transition from the beta version of Verify to the independent zero-knowledge blockchain. The transition will be backed by Polygon CDK and TIME is likely to be the first external media company to leverage the capabilities of open-source protocol that helps to track the origin source.
The beta version of the model has gathered a strength of more than 300k pieces. They have been accumulated since August 2023 when the beta version was first implemented by Fox Corporation. Gelato will serve as an implementation provider. Verify essentially gives power to publishers to establish a technical and cryptographic bridge to AI platforms. All they have to do is register their pieces with Verify for consumers to verify the content.
Polygon has sought participation from developers and users. They can contribute or fork the source code. Moving forward, Polygon is working with the team to make the open-source smart contract accessible to a larger number of publishers so that they can license their content to AI companies. Pieces hosted by the beta version have been contributed by brands that are associated with Fox Corporation. This includes Fox Sports, Fox News, and Fox TV affiliates. Needless to say, more brands and publishers are likely to join the list as TIME takes the lead.
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Pieces registered on Verify include media in different forms – audio, articles, and images, for example. Transitioning from the beta version to a zk-powered blockchain will facilitate an increase in efficiency, capability, and affordability of the content attestation. Developed by the Emerging technology team of Fox Corporation, Verify will now be backed by Gelato Network for implementation.
The Polygon community has started responding to the development. Many members have appreciated the move by calling it huge – while others have pitched their opinion by saying that deek fakes should also be fought with blockchain. Sentiments are evident in the token value of MATIC. It is up by 4.36% in the last 24 hours, listed at $0.5744 at the time of writing this article. There is a notable dip in the 24-hour trading volume but the market cap has surged reasonably by 4.37%.
An announcement by Fox Corporation about the transition from the beta version of Verify to the zkEVM blockchain follows an announcement by Polygon wherein it has shared the news about unlocking 1 billion POL in the last 10 years, bringing the average to around 100 million every year. This officially marked the beginning of the first season of the Community Grants Program where the team will distribute 35 million MATIC tokens to projects that are building on the native network.
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That said, all eyes are on Fox Corporation and TIME as the Polygon community anticipates the results of their collaboration. The dedicated L2 is tentatively scheduled to go live in the first quarter of 2025.
