Hollywood Talent Agency CAA is teaming up with NFT Collecter Oxb1 to bring open license NFT brands and properties mainstream. The collection includes NFTs from the “Bored Ape Yacht Club,” “Mutant Ape Yacht Club,” “Cool Cats,” and “Spunks by Spongenuity,” among others.
CAA represents high-profile clients such as Beyonce, Shakira and Jennifer Aniston so this is a major leap towards mainstream cross-over. According to reports, CAA will help the pseudonymous NFT collector monetize its portfolio of NFTs through licensing and brand partnerships.
Additionally, the agency will facilitate advisory partnerships between Oxb1 and blue-chip brands looking to enter the NFT space. Following this direction, we’ll soon see OG Collectibles merge with other forms of media such as films, TV, songs and more! Let your imagination run wild because, through IP and Licensing, NFT Creators and Collectors can scale their NFTs at an unprecedented rate.
The community is over the moon because of this recent development. Particularly those who hold the same set of NFTs as Oxb1. One Spunks NFT fan said, “Big things happening for Spunks and the entire NFT space. Enter funds, DAOs, museums, institutions, talent agencies, and artists from all around the world.”
Furthermore, the community hopes that this will be the first of many similar deals in the space. NFT is still a relatively new technology so securing the nod of approval of mainstream channels speaks volumes on the staying power and longevity of the space.
How Oxb1 and CAA’s deal Unlocks the IP Market Based on NFTs
CAA’s move is a clear indication that the market for Intellectual property based on NFTs is heating up. Notably, the agency signed a deal last month with Jenkins The Valet of Bored Ape Yacht Club for representation across books, film, TV, podcasts, and more. Then, they inked similar deals with NFT creator Micah Johnson and Mack Flavelle a few weeks back
Meanwhile, American Talent agency UTA signed a deal with Larva Labs. Through this deal, we’ll soon see OG Collectible CryptoPunks, Autoglyphs and Meebits NFTs star on film, TV, video games and other publishing projects.
Aside from expanding the use case of and reach of NFT projects. The move towards IP licensing creates another source of revenue for both the NFT Collectors creators and collectors. Currently, cash flow is only limited to proceeds from primary NFT Sales and Commissions from secondary market sales. With NFTs, crossing over the world of IP and Licensing, the sky is the limit! NFTs merging with other forms of media will be the ultimate proof of concept of NFTs.
Another clear example of how NFTs can create magic with IP and licensing is Animoca Brands – the global leader in branded blockchain gaming. In essence, they successfully brought popular IPs and franchises to the world of NFT Gaming.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
