It has been reported that UTA will represent Larva Labs for intellectual property (IP) deals in TV, film, video games, licensing, and publishing. Two other NFT projects from Larva Labs, Meebits and Autoglyphs, will also be represented by UTA.
However, an IP-related deal with UTA marks a significant milestone for Larva Labs, as it is one of the first examples of content created in the blockchain sector that has entered the mainstream entertainment industry.
Lesley Silverman, the head of UTA Digital Assets, said:
“I would say that it is one of the first opportunities for an IP that fully originated in the crypto-world to enter a broader entertainment space, and they earned it.”
“They really have hit the zeitgeist in a tremendous way.”
The report said that the CryptoPunks project maintained a relative niche following for most of its short history before exploding in popularity this year amid a growing wave of interest in the NFT sector, which saw $2.5 billion worth of sales in the first six months of this year.
Thus, according to data from the CryptoPunks website, the Larva Labs OG NFTs have generated a whopping $1.18 billion worth of total sales since 2017, with $304.8 million worth of sales in the past seven days alone. The cheapest CryptoPunk on sale is currently priced at 115 Ether (ETH) worth around $391,000, as of September 1.