Hollywood lines up to capitalize on NFT craze
The Future. United Talent Agency, William Morris Endeavor, and A3 are prepping an NFT debut as the digital marketplace quickly shifts to the blockchain-backed marketplace. Several films and TV veterans are already making millions through crypto media, and full adoption of the tech in Hollywood could reinvent creators’ relationships with fans… and catapult visual artists to the top of the money-making totem pole.
Hollywood agencies are gearing up to make some extra commissions in the midst of the NFT mania.
Multiple studios are reportedly looking into setting up their own NFT marketplaces as well.
Show me the Ethereum
The agencies have good reason to scramble while the getting is good — several entertainment figures are already raking in more money than they’ve ever seen.
The NFT frenzy is clearly a boon for concept artists in particular since it is netting them more money than ever thought imaginable. David Levy (Star Wars, Black Panther) said that “we don’t get royalties on any movies. If we stop work, we lose health insurance, we lose income. We never expected anything like this could happen. But now that it’s here, we’re not going to let it go.”