Phanerochaete chrysosporium can degrade lignin and utilize it and leave behind white cellulose hence it is called white rot fungus. While other class of fungal strains utilize cellulose/hemicellulose leaving behind lignin and hence they are called brown rot fungi.
Yes fungi are highly capable of hydrolysing lignocellulosic material, such as lignin is the major barrier to access the polysaccharides cellulose and hemicellulose, they are used to degrade a bit liginina and to facilitate hydrolysis and fermentation steps. Under some articles,