CryptoPunks and their creators, Larva Labs, seize the opportunity and set out in front of the spotlight among the stars of show business. The Punks found a way to become the first intellectual property, that is intellectual property (IP), based on cryptocurrency, which has secured representation with a major agency.
Let’s take a look at what the latest step means for one of the hottest projects in the NFT space.
CryptoPunks on the big screen?
According to news from this week from Hollywood Reporter, Larva Labs has signed an agency agreement with one of the biggest players in the field of entertainment, United Talent Agency (UTA), located in the famous Hollywood neighborhood.
According to the report, UTA will represent Larva Labs projects across film, television, video game and publication projects. Representation will include CryptoPunks, Meebits and Autoglyphs, three of the largest Larva Labs projects on the market.
In a statement to the Hollywood Reporter, head of UTA’s digital assets department Lesley Silverman said it was “One of the first opportunities for IP, which comes fully from the cryptworld, to enter a wider entertainment space, and they deserved it.”. Silverman added that CryptoPunks “They really hit the spirit of the time in an immense way.”
The details of the deal were not revealed, but the popular crypto art NFT project CryptoPunks could potentially appear in movies or TV shows and even games. The other two projects can also gain similar media representation.
Other Larva Labs projects and cooperation with UTA
Meebits from Larva Labs are computer generated images enclosed in NFT, which were launched only recently in May this year. Their NFTs are made up of 3D voxel characters created for playing in the virtual world of metaverse and NFT. In total, it exists 20,000 unique Meebits.
Project Autoglyphs Larva Labs, on the other hand, was launched in 2019 and is a collection 512 pieces of generative works of art minted as NFT. Autoglyphs are generated when users donate 0.2 ETH to 350.org, a selected charity from Larva Labs, which fights climate change.
UTA is traditionally considered one of the most important players in the field of entertainment and is called one of the “Big four” in entertainment agencies – such as Endeavor a CAA. UTA has clearly chosen a progressive approach, has signed contracts with several creators and is interested in several newly emerging platforms.
As black and white lines have historically found a lot of crossovers in entertainment and the media, there will also be more and more opportunities to use intellectual property, such as CryptoPunks. Traditional media will thus have to be careful.
CryptoPunks enters the mainstream
This week’s news comes at the expense of high visibility, which is dedicated to CryptoPunks and the NFT in general. Last week bought Visa CryptoPunk for $ 150,000. In addition, the company issued a report about NFT, which shares a bullish view of the future of nonfungible tokens and fanning.
Not surprisingly, Cryptopunks are among the NFTs in the marketplace OpenSea largest dollar volumes and historically dominate the charts. It comes at a time when OpenSea sales volumes are reaching record highs, with 30-day growth in users and transactions over 200%.
In addition, the volume of Punks leads to 7-day NFT reports, while it is in second place on 30-day charts, as well as charts for the entire period, where it lags behind only the Axie Infinity.
Recently, cryptopunks have also been making giant seven-figure purchases. One buyer earlier this month gained a large number of punks for $ 7 million in a single Ethereum block.
The full range of how UTA can be strengthened “Brand” CryptoPunk, we’ll see. However, given the excellent contacts and opportunities the entertainment industry has to offer, it is not surprising to see CryptoPunk on the big screens today.