According to the Hollywood Reporter, major Hollywood agency United Talent Agency (UTA) will represent the non-fungible token (NFT) project CryptoPunks created by Larva Labs. The aim is to sell publishing rights and licensing deals across the entertainment industry. UTA will also represent other Larva Labs’ projects Autoglyphs and Meebits. Some NFTs are digital licenses from traditional media. This is a landmark deal for an intellectual property (IP) that originated as an NFT to be licensed the other way to traditional media outlets.
CryptoPunks were launched in 2017 and are known as the first NFT project to be released on Ethereum. Larva Labs released 10,000 unique characters that initially could be claimed for free by anybody with an Ethereum wallet. It took a while for the project to take off, but a community was formed over time around the collection of digital caricatures.
Until this year, CryptoPunks interested a small and engaged group of people. However, with the hype around NFTs, the trading volume of the characters has increased significantly and along with it, the project’s following in the blockchain and tech community.
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