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Larva Labs, the team behind the shockingly popular NFT project CryptoPunks, has signed a deal with Hollywood agents United Talent Agency (UTA).
According to an August 31 Hollywood Reporter article, UTA will represent Larva Labs for intellectual property (IP) agreements in television, film, video games, licensing and publishing. Two other Larva Labs NFT projects, Meebits and Autoglyphs, will also be represented by UTA.
CryptoPunks was launched in 2017 and is one of the first NFT projects created on Ethereum. IP deal with UTA marks a milestone for Larva Labs as it is one of the first examples of content created in the blockchain industry that has entered the mainstream entertainment industry. .
Lesley Silverman, head of UTA Digital Assets, told The Hollywood Reporter:
“I would say this is one of the first opportunities for intellectual property wholly drawn from the crypto world to enter a larger entertainment space, and they deserved it.”
“They really hit the tune in a great way,” he added.
The CryptoPunks project has maintained a relatively large niche for most of its short history, before exploding in popularity this year amid a growing wave of interest in the NFT industry which has recorded $ 2.5 billion in sales in the first six months of this year.
According to data from the CryptoPunks website, Larva Labs’ NFT OGs have generated total sales of $ 1.18 billion since 2017, with $ 304.8 million in sales in the past seven days alone. The cheapest CryptoPunk on sale is currently priced at 115 Ethereum (ETH) worth around $ 391,000 at the time of publication.
Related: CryptoPunks Clone PolygonPunks Started From OpenSea Marketplace
Public figures such as rapper Jay Z, electronic dance musician Steve Aoki and entrepreneur Gary Vaynerchuk are all believed to own CryptoPunks. Cointelegraph reported on August 23 that payments tech giant Visa bought CryptoPunk 7610 – a female figure with a mohawk, green clown eyes and lipstick – for 49.50 ETH worth 150,000 $ at the time of purchase.
Cryptopunks have completed around $ 140 million in trades in the past 24 hours and have now exceeded $ 1 billion in lifetime trading volume. pic.twitter.com/SCBY6F22Ho
– Larva Labs (@larvalabs) August 28, 2021
There are 10,000 NFT CryptoPunks in total, all of which have been computer generated from a set of unique features to create the individual pixel art avatars. They were originally claimed for free, with TechCrunch reporting in April this year that a collector who goes by the name of “mr703” online snatched 703 Punks at initial launch – keeping hundreds of NFTs in a collection now worth tens of millions. at current prices.
With a Punk now being a VISA mascot, we are living at the end of an era: a marginal art experience is transformed into a corporate marketing tool. Happy, for he will propel #cryptopunks assessment through the roof.
– mr703 (@ mr703_punks) August 27, 2021
Larva Labs’ other NFT projects are also following the computer-generated route of the CryptoPunks. The NFT Meebits launched in May and consist of 20,000 unique 3D voxel characters designed for use in the Metaverse and NFT games.
Autoglyphs was launched in 2019 and is a generated art project limited to 512 NFT, where users generate a “Glyph” by donating a creation fee of 0.20 ETH ($ 687) to the chosen charity of Larva Labs, 350.org – an organization dedicated to fighting climate change.
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