Hollywood taps into NFT frenzy with Aku character deal

LOS ANGELES – How it goes for an origin story: A newcomer to Hollywood debuted as a non-fungible token.

Aku, a young black boy who dreams of becoming an astronaut, was an NFT character created by artist Micah Johnson in February that sold over $ 2 million in tokens in one day. Now Aku is heading for the screen thanks to a production contract with Anonymous Content and Permanent Content, a film and television company founded by singer Shawn Mendes.

It is believed to be the first film and television deal made by a Hollywood company for an NFT character.

Anonymous and Permanent are teaming up to produce films and shows based on an asset that has already shaken the worlds of art and commerce. Terms of the deal were not disclosed, but it nonetheless represents a symbolic barrier broken in the increasingly intertwined worlds of NFT, art and entertainment.

NFTs deploy technology similar to cryptocurrency bitcoin to tag digital assets with a unique marker. Their exclusivity led to the digital value of artist Beeple NFT image will sell for $ 69 million; and in the music arena, electronic music artists have made millions by selling the virtual acts to songs. The arrival of NFTs in Hollywood has been expected for some time, as studios with beloved characters can leverage tokens within devout fandoms.

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