Larva Labs, creator of CryptoPunks and Meebits, will bring its crypto art and NFT avatars to the giant world of entertainment, alongside talent agency United Talent Agency.
The popularity of NFTs is taking over the film and training industries. Developers of Larva Labs, creators of CryptoPunks and Meebits, two of the most successful NFT projects of all time, signed an agreement with the Beverly Hills (United States) talent agency, United Talent Agency, to bring the NFT frenzy to the big screen, television, and video games.
The news was published by the film magazine The Hollywood Reporter, which revealed details about the agreement signed between Larva Labs and United Talent Agency. According to the publication, the talent agency will be the one to represent Larva Labs' crypto art and NFT avatar projects within the entertainment industry. non-fungible tokens developed by this blockchain laboratory will be integrated into film, television, video game, publishing and other projects.
The idea of both companies is to guarantee greater exposure to the innovation that NFTs and technology represent. blockchain today, while promoting its adoption, growth and future development.
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NFT in Hollywood
The entertainment industry is increasingly showing interest in NFTs. The frenzy that has been sparked by these tokens, globally so far this year, is attracting the attention of major networks and corporations such as FOX and Lionsgate, which are betting on NFTs to revolutionize the entertainment industry and attract a larger audience.
Lesley Silverman, director of United Talent Agency, said the partnership with Larva Labs will bring the potential of NFTs into the broader entertainment industry. For the executive, this will be one of the first opportunities to connect Hollywood with crypto art, avatars and NFTs on a large scale.
“I would say it’s one of the first opportunities for an intellectual property that originated entirely in the cryptocurrency world to enter the entertainment industry.”
For his part, Matt Hall, co-founder of Larva Labs, assured that the agreement with the talent agency will also serve to provide new and exciting value opportunities in both industries, to encourage the growth and adoption of their NFT projects, as well as their long-term growth and value.
The success of Larva Labs
Larva Labs is responsible for the development of 3 of the most successful and valuable crypto art and NFT projects in the industry. This company is credited with the emergence of the modern CryptoArt movement, which began after the release of CryptoPunks in 2017. This NFT project consists of 10.000 avatars created on Ethereum unique and unrepeatable, so its average value reaches 140 ethers per token; about $440.000 according to the current value of ETH on the markets. Visa was one of the most recent investors in this NFT project, acquiring punk #7610 for $150.000.
In the past 24 hours, CryptoPunks have generated $8,5 million in trading volume, while total sales since the project's launch exceed $1.190 billion.
This year, demand for CryptoPunks has grown exponentially, with several of their tokens reaching a record value on the market, up to $7,5 million for one of these NFTs. Meebits are also one of Larva Labs' most successful NFT projects, having generated a sales volume of more than $206 million since their launch at the beginning of the year.
Source: Larva Labs
In addition to CryptoPunks and Meebits, Labs Labs is also responsible for the creation of Autoglyphs, the first generative art NFT project launched on the blockchain. Ethereum in 2019. NFTs from this project are currently selling for up to 460 ethers, worth approximately $1,58 million.
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