Larva Labs’ blockchain-created intellectual property is headed to Hollywood after the company signed a representation agreement with United Talent Agency for CryptoPunks, Meebits and Authoglyphs.
CryptoPunks creators sign with Hollywood’s top agents, and sales top $305 million in one weekNOTICE.
Larva Labs, the team behind the outrageously popular NFT project CryptoPunks, has signed a deal with Hollywood agents United Talent Agency (UTA).
According to an Aug. 31 article in the Hollywood Reporter, UTA will represent Larva Labs for intellectual property deals in television, film, video games, licensing and publishing. Two other Larva Labs NFT projects, Meebits and Autoglyphs, will also be represented by UTA.
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CryptoPunks was launched in 2017 and is one of the first NFT projects created on Ethereum. The IP-related deal with UTA marks an important milestone for Larva Labs, as it is one of the first examples of blockchain-created content entering the mainstream entertainment industry.
I would say it’s one of the first opportunities for an intellectual property that originated entirely in the cryptocurrency world to enter the broader entertainment space, and they’ve earned it.
«They’ve really hit the zeitgeist in a tremendous way.
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The CryptoPunks project maintained a relatively niche following for most of its short history, before exploding in popularity this year amid a growing wave of interest in the NFT sector that saw sales worth $2.5 billion in the first six months of this year.
According to data from the CryptoPunks website, Larva Labs’ original NFTs have generated the amount of $1.18 billion in total sales since 2017, and USD $304.8 million in sales in the last seven days alone. The cheapest CryptoPunk for sale is currently priced at 115 Ethereum (ETH) with a value of about USD 391,000 at the time of this edition.
Public figures such as rapper Jay Z, electronic dance musician Steve Aoki and entrepreneur Gary Vaynerchuk reportedly own CryptoPunks. Cointelegraph reported on Aug. 23 that payments technology giant Visa purchased the CryptoPunk 7610 – a female figure with a mohawk, green clown eyes and lipstick – for 49.50 ETH, which was worth $150,000 at the time of purchase.
Cryptopunks have transacted ~USD 140 million in the last 24 hours, and have now surpassed USD 1 billion in lifetime transaction volume.
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There are 10,000 CryptoPunks NFTs in total, all of which are computer-generated from a unique set of features to create the individual pixel art avatars. In April this year, TechCrunch reported that a collector known as «mr703» snapped up 703 Punks at launch, and was left with hundreds of NFTs in a collection now worth tens of millions at current prices.