CryptoPunks Land Deal With Largest Talent Agency: What Investors Should Know About Groundbreaking Deal

One of the oldest and most well-known non-fungible token series has secured a deal with a leading talent agency in a move that could lead to more media deals in the sector.

What Happened: Global talent, entertainment and sports agency UTA signed a deal with Larva Labs. The deal includes Larva Labs releases CrytoPunks Meebits and Autoglyphs.

“The agency will work with the collectibles to represent their interests across film and tv, licensing, publishing and video games,” the press release stated.

CryptoPunks was launched in 2017 as a series of 10,000 NFTs given away for free. The collection is now worth $3 billion and the cheapest available CryptoPunk is 118.98 Ethereum ETH/USD, or around $400,000.

Meebits launched in 2021 as a series of NFTs that were first offered for sale to existing Larva Labs NFT holders. There are 20,000 Meebits in existence.

In 2019, Larva Labs launched Autoglyphs, an experimental art project created by code running on the Ethereum blockchain. Autoglyphs are considered one of the first on-chain generative art NFT projects. There are 512 Autoglyphs in existence.

“CryptoPunks was a pioneering collectible when they debuted four years ago and they continue to set the standard in the NFT space,” Head of UTA Digital Assets Lesley Silverman said.

Larva Labs said it was excited to partner with UTA to help build value for its community.

“Not only for the exciting opportunities to bring them wider exposure, but to help protect their growth and value for the long term,” Matt Hall of Larva Labs said.

Related Link: CryptoPunks Have Outperformed Bitcoin And Ethereum In 2021 

Why It’s Important: CryptoPunks have seen huge interest from celebrities, social media influencers, investors and even publicly traded companies like Visa Inc V, and its sales volume rose last week. 

CryptoPunks ranks second in all-time NFT sales on CryptoSlam with $1.18 billion in sales volume lifetime-to-date.

“We are excited to break new ground through our first-of-its-kind representation of Larva Labs’ beloved projects and look forward to expanding the places fans can experience them,” Silverman said.

UTA is a leader in the global talent, entertainment and sports sectors, which could bring a string of partnerships through its connections.

More NFT brands could soon land talent agency deals to further monetize their assets.

One item to watch could be the upcoming auction for 101 NFTs from the popular Bored Ape Yacht Club NFT series. A winner of the auction could look towards licensing and monetizing the brand as it will own a large chunk of its 10,000 project.

Image: Courtesy CryptoPunk