The Silicon Valley venture capital firm Andreessen Horowitz (a16z) released a report on Tuesday covering the current state of crypto adoption. It highlights Ethereum as the leading blockchain network for developer support but contains very little mention of Bitcoin’s growth. The Potential of Web 3 The VC firm broke boiled down its report into five key takeaways about the current state of crypto. It began by suggesting that the industry is in the middle of its fourth ‘price innovation’ cycle.…
The “Bored” Ape Yacht Club has much to be excited about going forward. The collection’s creators– Yuga Labs– recently signed on with Guy Oseary, founder of celebrity music management group “Maverick”. Maverick has represented significant artists and groups, including Madonna, Britney Spears, and The Weeknd.
Celebrity Ape Yacht Club?
Variety magazine announced the NFT developer’s partnership on Monday. Oseary and Yuga Labs have some “exciting initiatives” in the works for the NFT community. They will reveal specifics on these initiatives soon.
Oseary is a well-established fan of NFTs and holds personal investments in the industry through his VC firm, Sound Ventures. The founders of this technology investment are Oseary and Ashton Kutcher. Both have high interests in NFT companies and platforms through a blockchain fund, including Dapper Labs and OpenSea.
The music manager also partnered with Mike Winkelmann– a.k.a. “Beeple”– who sold a record $64 billion NFT in March.
Today, Oseary sees excellent potential in Yuga Labs’ collection of digital apes:
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. 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.
Yuga Labs’s anonymous creators add that they’re excited to “bring the Bored Ape Yacht Club to a broader sphere.”
Indeed, Guy Oseary certainly has the connections to bring their collection beyond the interest of crypto-speculators and into the mainstream. With Oseary’s links, including major celebrity artists, the new deal will create film, TV, music, gaming, and more opportunities.
Celebrities Tackling NFTs
Oseary’s deal with Yuga is likely to bring about celebrity promotions, given the direction of the industry. Celebrities have been eagerly entering the space in 2021, often seeing much value in promoting their collections.
Major fans of the space include NBA legend Steph Curry, who bought one of Yuga’s apes for $180 000 in ETH in August. Famous actress Reese Witherspoon also tweeted yesterday that she’d just bought her first NFTs.
So far, the sports stars, in particular, have been quick to tackle the NFT space as a business endeavor. In recent months, athletes, including fighter Anderson Silva and soccer player Lionel Messi have launched their collections.