Hollywood agency UTA and Larva Labs reached an exclusive agency agreement

On September 1, United Talent Agency (UTA), an entertainment industry agency based in Hollywood, USA, reached an agency agreement with digital art studio Larva Labs, which will represent Larva Labs on its digital art NFT for film, television, video games, and publishing Authorization.

According to the American digital magazine "The Hollywood Reporter", although NFT has become a key area of Hollywood's future development (such as "The Hunger Games", "Mad Men", "Hurry Up" and other Hollywood movies franchise NFT is in production), this seems to be the first case of encryption art’s native IP entering the traditional media market.

Ledley Silverman, Head of UTA Digital Assets Department, said: “For an IP that is entirely derived from the field of encrypted assets, this is the first opportunity to enter a broader entertainment platform. Larva Labs has won this opportunity and they are impacting. The pulse of the whole era." Matt Hall, co-founder of Larva Labs said: "For the benefit of the entire community related to our project, we are very happy to cooperate with UTA. Not only are there more opportunities for exposure, but we also hope to help them gain Long-term value growth."

CryptoPunks, launched on Ethereum in 2017, is one of the earliest NFT collections. A total of 10,000 Punk avatars are generated by algorithms and have different characteristics (such as race, hat, tattoo, etc.). Most of the characteristics are more common. , And some features are relatively rare, and the rarity is divided accordingly. Although they were given away for free at the beginning, in recent months, the prices of these NFT avatars have risen sharply. In the past month alone, 17 of them sold for more than $1 million, with the lowest transaction price ranging from 30. Ten thousand U.S. dollars increased to 700,000 U.S. dollars.