One of Hollywood’s biggest talent agencies is getting into the NFT game.
Larva Labs, the creator of CryptoPunks, has just signed with United Talent Agency (UTA) on an agency agreement that will bring one of the oldest and most iconic NFT projects to the worlds of entertainment and entertainment. ‘brand image.
“I would say this is one of the first opportunities for an IP address wholly from the crypto world to step into a larger entertainment space, and they deserved it,” said Leley Silverman, head of ‘UTA Digital Assets, at the Hollywood Reporter. “They really hit the tune in a tremendous way.”
The deal could see CryptoPunks appear in film, television, video games, and other licensing areas. Larva Labs’ other art projects, Meebits and Autoglyphs, will also be represented by UTA in the future. Terms of the deal were not disclosed.
As speculative investments in NFTs explode, CryptoPunks remains one of the most recognizable – and valuable – pioneers in space. Larva Labs launched 10,000 of the individual, algorithmically generated pixelated figures on the Ethereum blockchain in 2017.
To the untrained eye, and arguably the discerning eye too, CryptoPunks are little pixelated portraits of different characters, some wearing pirate hats, others wearing aviator’s glasses smoking pipes. But for the crypto world, punks are a social signifier, communicating early NFT investments, personal style, and most importantly, wealth.
The value of CryptoPunks has climbed from zero (they were initially offered for free) and now even the cheapest collectible punks cost hundreds of thousands of dollars, with the most valuable sale in the millions. In May, a batch of nine CryptoPunks sold for just under $ 17 million at an auction hosted by Christie’s. And last week, even Visa stepped into the game, spending $ 150,000 on CryptoPunk # 7610, a digital artwork sporting Mohawk and green makeup.
It’s worth noting that a traditional talent agency best known for representing high-profile celebrities is launching into the NFT game, but this isn’t the first time the group has gotten their feet wet in the wild world of crypto. . Earlier this month, UTA signed on to a company called Rally that runs a platform that helps creators issue branded social tokens that fans can spend on merch and exclusive content.