CryptoPunks Creators Sign With Top Hollywood Agents As Sales Surpass $ 305 Million In One Week

Larva Labs, the team behind the shockingly popular NFT project CryptoPunks, has signed a deal with Hollywood agents United Talent Agency ...

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 Aug.31 article from The Hollywood Reporter, UTA represent Larva Labs for Intellectual Property (IP) deals with 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 explode in popularity this year amid a wave of growing interest in the DTV industry which has seen $ 2.5 billion in sales during the first six months of this year.

According to The data On 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 all would have own CryptoPunks. Cointelegraph reported on August 23 that payments technology giant Visa purchased CryptoPunk 7610 – a female figure with a mohawk, green clown eyes and lipstick – for 49.50 ETH valued at $ 150,000 at the time of purchase.

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 report in April of this year, a collector by the name of “mr703” online snatched 703 Punks at the initial launch – keeping hundreds of NFTs in a collection now worth tens of millions at current prices.

Larva Labs’ other NFT projects are also following the computer-generated route of the CryptoPunks. NFT Meebits launched in May and consist of 20,000 unique 3D voxel characters designed for use in 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, – an organization dedicated to tackling climate change.