In Brief:
- Guy Oseary, U2 Manager has signed a new deal with BAYC creator Yuga labs
- The deal will help the Bored Ape Yacht Club (BAYC) NFT project to enter into movies, television, music, and gaming.
- BAYC NFTs have generated over $555 million in secondary market sales since their April launch.
Guy Oseary, the manager of U2 and Madonna, has agreed to expand the Bored Ape Yacht Club (BAYC) NFT project into movies, television, music, and gaming with Yuga Labs.
Yuga Labs’ move comes just a month after CryptoPunks creators Larva Labs signed a Hollywood representation deal with the United Talent Agency. Oseary adds BAYC to a long list of celebrity clients that includes, in addition to U2 and Madonna, comedian Amy Schumer and the Red Hot Chili Peppers.
The news was first reported by Variety on Oct. 12, with Oseary emphasising that, despite the success of the BAYC project, Yuga Labs is still a relatively unknown brand, implying that the company has a lot of room to grow: “Many people still have not heard of Yuga, yet they are one of the highest-grossing talents of the year from any art form, including music and film.”
In recent months, BAYC NFTs have become a highly sought-after asset, with a collection of 101 bored ape NFTs selling for $24 million at auction on September 10. NBA star Steph Curry has spent six-figure sums on the adorable apes, while Metaverse gaming firm the Sandbox purchased a golden ape for 740 ETH on September 6.
Yuga labs stated that “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.”
BAYC NFTs have generated more than $555 million in secondary market sales since their launch in April, according to CryptoSlam data. At the time of publication, the floor price is 37.08 ETH, which is approximately $130,000. While not insignificant, it is currently down 51 percent from its all-time high of 76.8 ETH ($269,000) on September 30.
Oseary also emphasised that the Yuga Labs representation agreement will provide plenty of opportunities for BAYC NFTs hodlers, noting that: “They are originals, empowering their community of NFT holders by giving them IP rights to their purchased ape, and continually creating ways to add benefits and utility to the purchased artwork.”
“The Apes at Yuga Labs and I have a lot of exciting initiatives for the community and we look forward to sharing them soon,” he further added.
