Larva Labs and a Hollywood star agency are forming a partnership, which aims to expand the visibility of CryptoPunks and 2 other non-fungible token (NFT) projects in film and television. Once again, this trend is far from over.
A movie star agent for CryptoPunks…
According to an August 31 article in The Hollywood Reporter, Larva Labs, the team behind CryptoPunks, has struck a deal with the United Talent Agency (UTA). The latter is an international entertainment company that represents Hollywood stars, such as Johnny Depp, Susan Sarandon and Wes Anderson. UTA’s clients also include musicians, actors and digital talent who, according to the company’s website, are “shaping the world of content and changing the face of entertainment.”
UTA will now represent three Larva Larbs NFT projects: the CryptoPunks, Meebits and Autoglyphs. Through this agreement, these projects could now be seen on other types of media, including film and television.
…to protect the growth and value of NFT projects
Larva Labs co-founder Matt Hall emphasized to The Hollywood Reporter the benefits of this partnership with the UTA for “the entire community connected to our projects.” The collaboration should, according to the businessman, give greater exposure to the NFT projects involved, but also “help protect their growth and value over the long term.”
UTA’s head of digital assets, Lesley Silverman, also spoke of the benefits of the partnership for Larva Labs’ NFT projects, which now expand their scope:
“I would say that this is one of the first opportunities for intellectual property entirely from the cryptocurrency world to enter the broader entertainment space, and they have earned it.”
According to data published on the Larva Labs website, CryptoPunks have recorded $1.19 billion in sales since their inception. The cheapest CryptoPunk at the time of writing costs 94.5 ethers, or about $358,000.
Thanks to the UTA, CryptoPunks will be able to break into the world of the seventh art. This conquest of new media will not only increase their value by increasing their exposure, but also attract other buyers with sometimes unexpected profiles – like Visa, which surprised the cryptosphere with the acquisition of CryptoPunk #7610 for about $165,000.