Popular NFT collection Bored Ape Yacht Club (BAYC) is launching its own movie trilogy with crypto exchange Coinbase (COIN) behind the camera.
It’s been a huge couple of months for BAYC, the generative NFT profile picture collection that has become the face of non-replaceable tokens in recent months. On March 18, ApeCoin was launched and just a week earlier, Yuga Labs – the studio behind BAYC, CryptoPunks – acquired one of the most historic NFT collections of all time.
According to Yuga Labs, the first of three animated shorts, titled “The Degen Trilogy,” will premiere on NFT.NYC in June.
Bored Ape owners have been invited to submit their monkeys along with invented character descriptions for consideration as characters in the trilogy. Entries will be judged by a real Hollywood director.
Even more surprising than the movies themselves, Coinbase, a popular crypto wallet, will be producing them. This is a test of Coinbase’s new media arm led by William Swann, the marketing director for entertainment and culture.
After the film’s release, the film will be “wallet-gated” on Coinbase’s website. This means that users need to create a Coinbase wallet in order to view it. While details are still unclear, the series will also tie into Coinbase’s NFT marketplace, which Swann says will be released “very, very soon.”
NFTs are making moves in the entertainment space
BAYC isn’t the only Yuga Labs NFT collection to get the Hollywood treatment. Mutant Ape Yacht Collection and other projects are getting their own movie, and Yuga Labs will oversee the projects, although it won’t produce them.
Universal Music Group (UMG) is also building a band around the Bored Ape NFTs they own, and a BAYC-themed restaurant opened in California on April 9. Of course, they accept ApeCoin as one of their payment methods.
In addition to Yuga Labs, other NFT projects are venturing into film and entertainment. Mila Kunis and her studio Sixth Wall are developing a cartoon series that uses feedback from NFT holders for future plots, and actress Reese Witherspoon plans to bring NFTs into film through the cutting-edge NFT collection World of Women (WoW).
As NFTs continue to reshape what can be done with digital assets, Yuga Labs certainly looks poised to become a major player in the entertainment space. While it’s not yet clear whether an NFT collection or studio could deliver a blockbuster, we’ll be looking at what entertainment value “The Degen Trilogy” will bring to BAYC and NFT fans in June.