By
Mayowa Adebajo
April 16th, 2024
Yuga Labs, creators of Bored Ape, is betting big on the entertainment sector, looking to expand its popularity by partnering with the talent manager.
Guy Oseary, the founder of management firm Maverick, recently signed a representation deal with Yuga Labs to expand the Bored Ape Yacht Club (BAYC) NFTs. Oseary, whose clients include music icons Madonna, and U2, is tasked with working the BAYC NFT project into several media outlets. These include film and television, as well as music and gaming. This development comes a month after Larva Labs, creators of CryptoPunks, agreed to a representation deal with the United Talent Agency.
Oseary has recognized Yuga Labs’ antecedents but suggests that there is room for improvement. The manager said:
“Many people still have not heard of Yuga, yet they are one of the highest-grossing talents of the year from any artform, including music and film.”
In addition, Oseary clearly stated that the representation deal will afford several lucrative opportunities to existing BAYC holders. He specifically pointed to the digital assets as being “originals” and bestowing “IP” privileges on owners. Lastly, Oseary rounded off by saying:
“The Apes at Yuga Labs and I have a lot of exciting initiatives for the community and we look forward to sharing them soon.”
Yuga Labs also weighed in on the newly-inked representation deal with Oseary. The company stated that it was certain to benefit from Oseary’s wealth of experience in show business.
“We have many ambitious projects in the works and we’re thankful to have Guy’s expertise as we move the club into this new chapter, for the benefit of the entire BAYC community,” reads the statement issued by Yuga Labs.
Oseary’s other high-profile clients include American actress/comedienne Amy Schumer, and legendary rock band, the Red Hot Chilli Peppers.
Yuga Labs’ Bored Ape Initiative Is a Product of a Thriving Digital Asset Space
BAYC, Yuga Labs’ flagship creation, has exploded in popularity in recent months, owing largely to the widespread NFT craze. Sales of NFTs topped $2 billion in the first quarter of 2021 alone. The BAYC NFT collection first launched as a set of 10,000 computer-generated cartoon ape avatars back in April. Since then, it has generated more than $555 million in sales on the secondary markets. In early September, a collection of 101 Bored Ape NFTs sold for $24 million via auction. Furthermore, NBA veteran point guard Steph Curry also notably snapped one up. In addition, Sandbox, a Metaverse gaming firm, paid 740 ETH for a golden ape on September 6th.
It is a known fact that Hollywood is fast making its mark in the NFT space. For instance, talent agencies such as CAA, UTA, and WME assisted in launching Notables, an NFT sales venture. Furthermore, American comics powerhouse, DC Comics, has NFT offerings for its upcoming FanDome convention. Furthermore, other celebrities such as Katy Perry, Paris Hilton, Jack Dorsey, and Lil Nas X have their names attached to NFTs.