Larva Labs, the crew behind the outrageously well-liked NFT project CryptoPunks, has penned a cope with Hollywood brokers United Talent Agency (UTA).
In line with an Aug. 31 article from the Hollywood Reporter, UTA will represent Larva Labs for intellectual property (IP) offers in TV, film, video games, licensing and publishing. Two different NFT initiatives from Larva Labs, Meebits and Autoglyphs, will even be represented by UTA.
CryptoPunks has launched back in 2017 and is one of the first NFT projects created on Ethereum. The IP-related deal with UTA marks a major milestone for Larva Labs, as it is one of the first examples of content material created within the blockchain sector that has entered the mainstream leisure business.
Lesley Silverman, head of UTA Digital Assets told the Hollywood Reporter:
“I would say that it is one of the first opportunities for an IP that totally originated in the crypto-world to enter a broader entertainment space, and they earned it.”
“They really have hit the zeitgeist in an amazing approach,” he added.
The CryptoPunks project maintained a relative niche following for most of its short history, earlier than exploding in popularity this year amid a rising wave of curiosity within the NFT sector which noticed $2.5 billion worth of sales in the first six months of this year.
According to data from the CryptoPunks website, the Larva Labs OG NFTs have generated a whopping $1.18 billion value of total sales since 2017, with $304.8 million worth of sales in the past seven days alone. The cheapest CryptoPunk on sale is currently priced at 115 Ethereum (ETH) value around $391,000 at the time of publication.
Public figures such as rapper Jay Z, electronic dance musician Steve Aoki and entrepreneur Gary Vaynerchuk all reportedly own CryptoPunks. Cmnnews reported on Aug. 23 that payments tech giant Visa purchased CryptoPunk 7610 — a female figure with a mohawk, clown green eyes and lipstick — for 49.50 ETH worth $150,000 at the time of buy.
There are 10,000 CryptoPunks NFTs in total, all of which was computer-generated from a set of unique features to create the individual pixel art avatars. They have been initially claimed totally free, with TechCrunch reporting in April this year that a collector who goes by the name “mr703” online snatched 703 Punks at preliminary launch — conserving hundreds of the NFTs in a collection now worth tens of millions at current prices.
Larva Labs’ other NFT projects also follow the computer-generated route of CryptoPunks. The Meebits NFTs have been launched this May, and encompass 20,000 unique 3D voxel characters that are built for use in the Metaverse and NFT gaming.
Autoglyphs launched in 2019 and is a generated art project that’s limited to 512 NFTs, 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 aimed at combating climate change.