Bored Ape Yacht Club Turns To Film, TV And Games With Talent Agency Deal: Here Are The Details

One of the most well-known NFT projects signed a landmark talent representation deal Tuesday that could further expansion in the space with “blue chip” names and lead to further monetization opportunities.

What Happened: Yuga Labs, the creator of Bored Ape Yacht Club, signed a representation deal with Guy Oseary.

“In just five months, Yuga Labs have created NFT collections valued at north of $1.5 billion and established one of the most dedicated communities in the NFT marketplace,” Oseary said.

The company noted it had many “ambitious projects in the works” and will use Oseary’s expertise for the next chapter.

Oseary is well known in the talent representation space working as the manager for both Madonna and U2, two of the best-selling musicians of all time.

Oseary is a partner with Ashton Kutcher on Sound Ventures. The investment firm has backed some of the most successful technology startups including Airbnb Inc ABNB, Uber Technologies UBER, Spotify Technology SPOT and Robinhood Markets Inc HOOD.

Sound Ventures has also invested in Dapper Labs, Superrare and OpenSea in the cryptocurrency space.

Earlier this year, CryptoPunks announced a talent representation deal with UTA.

Related Link: Bored Ape Yacht Club: What To Know About THe Hottest NFT Project Around 

Why It’s Important: Oseary doesn’t hold back in comments on how successful Bored Ape Yacht Club has been in 2021.

“They are one of the highest-grossing talents of the year from any artform, including music and film,” Oseary said.

Oseary said despite the strong sales, many are still unfamiliar with Yuga Labs and Bored Ape Yacht Club. The goal is to create film, television and gaming content.

“They are originals, empowering their community of NFT holders by giving them IP rights to their purchased ape and continually creating ways to add benefits and utility to the purchased artwork.”

Oseary said more details would be shared in the future on how Bored Ape Yacht Club holders can monetize their NFTs.

Bored Ape Yacht Club launched in April 2021 as a collection of 10,000 NFTs. The project took time to sell out and has since become one of the most successful NFT projects of all time.

Yuga Labs launched Mutant Ape Yacht Club in August as a spin-off to Ape holders and a partial public mint.

A Sotheby’s auction sold a collection of 101 Bored Apes for $24.39 million in September.

The current floor price for Bored Apes is 36.69 Ethereum ETH/USD, or around $127,110 based on the current price of the cryptocurrency.

Bored Ape Yacht Clubs rank fifth on CryptoSlam with sales volume of $554.9 million in their lifetime. Mutant Ape Yacht Clubs rank sixth with lifetime sales volume of $290.7 million.