CryptoPunks Coming to Hollywood

United Talent Agency has signed a deal with Larva Labs to take care of representation of CryptoPunks, Autoglyphs and Meebits across various forms of Hollywood entertainment. UTA will take care of publishing and licensing deals, meaning that we could see CryptoPunks soon in various movies, television shows, and video games.

The Hollywood Reporter broke the news on Tuesday, stating that Hollywood has its eyes on NFTs. Both Fox and Lionsgate want to bring their IP to the blockchain according to the American entertainment news site.

In the past we've already seen Legendary bring their movie IP to Terra Virtua, and of course we've seen a Saw and Godzilla NFT collection on the Wax blockchain. Movie distribution platform Vuele will even sell movies as limited edition NFTs, including a new movie featuring Anthony Hopkins.

This deal between Larva Labs and United Talent Agency is all about representation, and doesn't mean that CryptoPunks will get its own blockbuster movie. Instead this means that they will talk to movie companies and negotiate the deals. However, we've already had a movie about Facebook, so why not.

Larva Labs launched CryptoPunks in June 2017, and they are now considered the gold standard for NFTs. The floor price for the cheapest NFT on the market is currently 118,88 ETH or $407,000. Autoglyphs launched in 2019, followed by Meebits earlier this year.

What are NFTs?

NFT is the abbreviation for non-fungible tokens, which are tokens that signify ownership over unique digital assets. These assets can for example be items in a game, crypto art, or digital collectibles. In addition it could also be a ticket for a cinema or perhaps a subscription for public transit. The usability of NFTs doesn’t end with gaming, it only starts there.

A non-fungible token can’t be swapped one-on-one with another non-fungible token. It represents something unique. That’s why non-fungible tokens can be based compared with rare art, an owned house or a signed mint edition of a certain comic book. These products are unique and in the same way a non-fungible token is unique as well. This gives non-fungible tokens also an unique value that only represents that one specific token.