Entering Hollywood’s CryptoPunks “ambition” is more than NFT

CryptoPunks is one of encryption collection of the most important areas of NFT present, based on the Ethernet Square pixel picture series released in 2017, after nearly four years after the dormant ushered in the year The NFT market is booming. Recently, the total transaction volume of CryptoPunks broke the $1 billion mark, setting a new record.

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So, where is the potential next stop for CryptoPunks? The answer may surprise many people, and that is—Hollywood.

On September 1, CryptoPunks development company Larva Labs has signed an agency agreement with United Talent Agency (UTA), the largest brokerage company in the US entertainment industry, to enter the Hollywood entertainment market, which will serve as Larva Labs’ film, TV, and video games And publishing projects, including CryptoPunks, Meebits and Autoglyphs, the three largest NFT projects in the crypto market.

According to Lesley Silverman, the head of UTA Digital Assets, the signing of the agency agreement will create opportunities for CryptoPunks, an IP that originated entirely in the encrypted world, to enter the wider entertainment field, because CryptoPunks “with huge The way has impacted the spirit of the times”. And Matt Hall, the co-founder of Larva Labs, explained:

“We are very happy to work with UTA to benefit the entire community related to our project. This cooperation is not only to give them wider exposure opportunities, but also to help protect their long-term growth and value.”

CryptoPunks is a series of artistic avatars composed of 10,000 pixel pictures. These avatars are randomly constructed from dozens of possible feature pools. NFT is a non-homogeneous token. Its function is similar to the receipt or ownership contract of digital items. In this case, CryptoPunks holders can confirm pixelated people, zombies, and aliens with various attributes and accessories. Ownership of humans or apes-more importantly, no two CryptoPunks are exactly the same. Under the influence of CryptoPunks, many similar NFT projects based on pixel avatars soon appeared in the crypto market, including Bored Ape Yacht Club and Pudgy Penguins.

Since the beginning of this year, the NFT market has gradually become more and more popular. In the first half of 2021 alone, the net transaction volume in this field reached 2.5 billion US dollars, and the demand for CryptoPunks is also increasing. According to data from CryptoSlam, this demand has accelerated in recent weeks. As of now, the CryptoPunks NFT collection series has generated 1.17 billion USD worth of Ethereum transaction volume. Now, the cheapest CryptoPunk NFT that can be purchased is over US$407,000 (the floor price is close to 130 ETH ), and even the payment financial giant Visa recently bought CryptoPunks NFT.

In addition, Larva Labs’ Meebits is an incarnation based on 3D voxels, and its spirit is similar to CryptoPunks, and they are all designed to be used in the future metaverse and online game world. Meebits just launched in May of this year and has 20,000 avatars, but so far the transaction volume has reached 191 million US dollars.

At the same time, there is also a generative art project Autoglyphs, which appeared earlier than the recent surge in Art Blocks, but was limited to 512 pieces. So far, Autoglyphs’ transaction volume has reached 16 million U.S. dollars, including multiple works with single NFT sales exceeding 1 million U.S. dollars.

Frankly speaking, the NFT world only attracted widespread attention at the beginning of this year, but CryptoPunks is not actually the first example of Hollywood and NFT “meeting”. In fact, artist Micah Johnson’s original NFT character Aku has long been selected in a feature film. At the same time, the animated series Stoner Cats starring married actors Mila Kunis and Ashton Kutcher also recently used NFT to raise funds for their first season episodes. The episodes will only be distributed to token owners.

In May of this year, Fox Entertainment announced the establishment of Blockchain Creation Studios, which will produce an NFT-centric animation series created by “Rick and Morty” co-creator Dan Harmon, called “Krapopolis” “. Fox will inject $100 million into its NFT-related plans.

Will CryptoPunks become mainstream?

The news of the cooperation with UTA was released after CryptoPunks and NFT became widely known. Last week, Visa purchased CryptoPunk for $150,000. In addition, Visa also released an NFT report, sharing its optimistic views on the future of non-homogeneous tokens and fanaticism.

On the other hand, CryptoPunks is the NFT with the highest U.S. dollar transaction volume on OpenSea recently, and has always dominated the rankings in history-coincidentally, the total volume of OpenSea transactions also hit a record high, with 30-day user growth and transaction volume growth exceeding 200%. In addition, CryptoPunks trading volume is also far ahead of the 7-day NFT trading volume rankings, ranking second in the 30-day and all-time charts-second only to Axie Infinity .

CryptoPunks has generated a strong seven-figure purchase volume. Earlier this month, a buyer purchased a large number of Punks in an Ethereum block at a price of $70,000.

As one of the most popular NFT projects in the crypto field, what will it mean for the industry if CryptoPunks enters Hollywood? Will Punks be on the big screen?

In fact, UTA has always been regarded as the strongest brokerage company in the entertainment industry, and has been described as one of the “big four” in the entertainment industry-its strength is almost comparable to that of companies such as Endeavor and CAA. UTA obviously takes a forward-looking approach, signing more creators and focusing on more emerging platforms. As the black and white lines in entertainment and media in history continue to look for more interactions, IPs such as CryptoPunks will definitely have more opportunities Will continue to rise.

Therefore, traditional media, be careful!

Of course, it remains to be seen how UTA supports the “brand” of CryptoPunk. However, with the first-rate entertainment industry contacts and opportunities that this entertainment brokerage giant can provide, don’t be surprised if you suddenly see CryptoPunk on the big screen one day.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/entering-hollywoods-cryptopunks-ambition-is-more-than-nft/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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