Could CryptoPunks be coming to the big screen?
Some of the most recognizable faces of the non-fungible token (NFT) industry signed with United Talent Agency (UTA) for representation across film, TV, video games, publishing and licensing, the Hollywood Reporter reported today. The high-powered entertainment agency will also represent Meebits and Autoglyphs, two other NFT projects created by Larva Labs.
CryptoPunks could be the first NFT to break into more traditional forms of media, which Larva Labs co-founder Matt Hall told the Hollywood Reporter would be “for the benefit of the entire community connected to our projects.”
Licensing rights have been a controversial topic in the NFT sector because they are often seen as antithetical to its decentralized and permissionless nature. Larva Labs has been aggressive in enforcing its intellectual property rights as it has issued claims under the Digital Millennium Copyright Act, which bans copying and selling or freely distributing copyrighted digital content and works.
The news about CryptoPunks stirred a strong reaction among some observers of NFTs. “The punk community has told the story of punks, and that emergent, organic and AUTHENTIC story telling is the ONLY reason punks are what they are,” tweeted Scott Lewis, the co-founder of data company DeFi Pulse. “I’m skeptical Hollywood agents, however talented, can license the imagery authentically without deep engagement w the punk community.”
The move to sign CryptoPunks, Meebits and Autoglyphs comes just a week after UTA signed Rally, a fan engagement and monetization toolkit the agency believes will help connect crypto-related talent with fans.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.