Coinbase to Produce Animated Films with BAYC NFTs

UTC by Babafemi Adebajo · 2 min read
Coinbase to Produce Animated Films with BAYC NFTs
Photo: Depositphotos

A casting director will choose the Apes with fictional character descriptions that best match their interest.

Coinbase has announced its readiness to produce a three-part short film series featuring BAYC NFTs as the characters. The movie will also feature the Apecoin, the recently launched community token for BAYC holders.

The first short film in the series titled ‘The Degen Trilogy’ will premiere in June at NFT.NYC. The other two will follow over the next year. Coinbase is handling the movie production through its media arm led by entertainment and culture marketing director William Swann. The release will coincide with the launch of the Coinbase NFT marketplace.

Swann noted that the company has been inspired by the BAYC community. He further said that they “are excited to invite them to co-create this film with” them. Consequently, holders of BAYC NFTs can have their assets featured in the movie. The owners can submit their assets for consideration through the project website. However, the submissions should be accompanied by potential character descriptions of the unique apes.

Afterward, a casting director will choose the Apes with fictional character descriptions that best match their interest. There is, however, one limitation for holders of the BAYC NFTs. To submit your ape on the website, you need to have a Coinbase wallet.

Regardless, there have been suggestions this will not be a requirement when the films start to launch. While further details are yet to be released, the movies are expected to debut at live events.

BAYC NFTs are our North Star

Speaking about the project, Swann noted it was a love letter to NFTs for the freedom of expression it’s given to artists. “We look to [Bored Apes] as sort of our North Star in the NFT space,” he said.

So far, the BAYC NFTs have generated over $3.2 billion in secondary market trading volume. The cheapest Bored Ape has a current valuation of 109 ETH.

North Star or not, BAYC NFTs are not the only NFTs being subject to entertainment uses. Another Yuga Labs creation, Mutant Apes, is also being featured in a movie series. At the time of writing, the details about that are sketchy.

Beyond movies, others are also putting the BAYC NFTs to several uses. The Universal Music Group (UMG), for example, purchased a BAYC NFT to lead its virtual band. Likewise, there is a Californian BAYC-themed restaurant that accepts ApeCoin as a form of payment.

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Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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