The draft crypto art of Larva Labs' NFT has signed with the United Talent Agency for its representation in film, television, video games, publications and licenses. The firm will also represent Meebits and Autoglyphs, two other crypto-art projects created by Larva Labs.
After trying to enter the NFT market, the big Hollywood producers will be able to make transmedia projects based on CryptoPunks. The latter are a series of NFT pixelart portraits that are being sold the most on the NFT blockchain.
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Lesley Silverman, director of UTA Digital Assets praises the work that the NFT CryptoPunk series has done that has allowed them to sign a representation agreement and thanks to this, they will be able to appear in numerous transmedia projects such as a movie, or video games. It does not mean that Hollywood is making a movie about the NFT phenomenon, as many will think.
Larva Labs sees this arrangement as a way to help maintain or increase the value of collections as a whole. It’s not uncommon for an artist selling one piece or giving them recognition to see the value of all their works increase. CryptoPunks was among the first examples of NFTs as art when it launched on the Ethereum blockchain in 2017. Each “punk” portrait was algorithmically generated with certain characteristics, some with more common features and others with rarer features. Originally given away for free, sales of some of the 10.000 characters have reached $2 million in recent months.
Now we have to wait and see what the film, television or video game industry hopes to get out of relying on these series of NFT projects. For now, everything is in an early phase, so it will take several years to know what comes out of this representation agreement, if anything.
Source: Hollywood Reporter
