Guy Oseary, the manager of the music heavyweights U2 and Madonna, has signed an agency agreement with Yuga Labs to expand the Bored Ape Yacht Club (BAYC) NFT project to include films, television, music and games.
The move from Yuga Labs comes a month after Larva Labs of CryptoPunks creators signed an agency agreement in Hollywood with the United Talent Agency. Oseary adds BAYC to a list of all star customers, which includes U2 and Madonna, comedian Amy Schumer and the Red Hot Chilli Peppers.
Welcome to the club, @guyoseary! ☠️⛵️ https://t.co/PcUtD67zIF
– Bored Ape Yacht Club (@BoredApeYC) October 12, 2021
The announcement was shared via Variety on Oct. 12, with Oseary highlighting that despite the success of the BAYC project, Yuga Labs is still a relatively unknown brand, suggesting the company has plenty of potential for growth:
“Lots of people haven’t heard of Yuga, but they’re one of the top-selling talents of the year from all art forms, including music and film.”
BAYC NFTs have grown into a highly sought-after asset in the past few months, with a collection of 101 bored monkey NFTs auctioned for $ 24 million on September 10th. Numbers like NBA star Steph Curry put six-figure sums on the adorable monkey, while Metaverse game company Sandbox bought a golden monkey for 740 Ethereum (ETH) on September 6th.
“We have many ambitious projects in the works and are grateful to have Guys expertise as we introduce the club into this new chapter for the benefit of the entire BAYC community,” said Yuga Labs.
According to data from CryptoSlam, BAYC NFTs have had sales of more than $ 555 million in secondary markets since their launch in April. The reserve price is 37.08 ETH, which is worth about $ 130,000 at the time of publication. While it’s not a negligible amount, it’s currently down 51% since its all-time high of 76.8 ETH ($ 269,000) on Sept. 30.
Oseary also stressed that Yuga Labs’ agency agreement will provide many opportunities for owners of the BAYC NFTS, noting that:
“They are originals who strengthen their community of NFT owners by giving them IP rights to their purchased monkey and continuously creating opportunities to add benefits and benefits to the purchased artwork.”
“The monkeys at Yuga Labs and I have many exciting community initiatives and we look forward to sharing them soon,” he added.
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An upcoming project for BAYC is the introduction of its own token, with the team announcing on Twitter last Friday that it will bring an ERC-20 to the market in the first quarter of 2022 are carefully working on constructing a “legally compliant token” which is set up in a “responsible manner”.
First things first: it’s stupidly easy to launch an ERC-20 token; it takes minutes.
It is much more complicated to construct a legally compliant token and to set it up responsibly and sustainably.
– Bored Ape Yacht Club (@BoredApeYC) October 8, 2021