CAA Onboards the Cool Cats NFT Collection

 As we see greater and greater merging of the NFT concept with the entertainment industry, we’ve finally seen a high-profile sign-up to CAA enter the space. Brandon Blake, the entertainment lawyer at Blake & Wang, has more news.


Brandon Blake

Cool Cats NFT Collection

Who are Cool Cats, anyway? It’s the operational name for an NFT collection that’s attracted some high-profile Hollywood interest, including ownership by Reese Witherspoon, Marc Benioff and Alexis Ohanian. It was launched, however, on the Ethereum blockchain almost a year ago by Colin Egan, Evan Luza, Tom Williamson and Rob Mehew. Offering 9,999 avatars for purchase, it has pulled in a quarter of a million dollars over the time period.


What do purchasers get for their investment? A non-exclusive right to use the characters, currently. This means the collection retains the rights to use them in new projects. 

Signing with CAA

On the back of this success, they have now officially signed with CAA. Now, the Cool Cat producers- including their spin-off collection, Cool Pets- will be hoping to extend the reach of their NFT avatars throu
gh animated content, licensing and merchandise deals, live events, publishing, and, of course, brand partnerships. 


In short, it’s looking to turn a standard NFT into something with lucrative derivatives. This makes it one of the first large-scale intrusions into Hollywood from the newer tech. This goal represents something of a drift from the original blockchain-focused thrust of NFTs. It also would make it one of the first (but not the last, no doubt) instances of leveraging an NFT-based IP for greater market saturation.


It’s a space that’s beginning to insert itself into the wider Hollywood landscape, as content producers look for ways to expand beyond a purchasable jpg into a wider reaching way to engage with fans but retain different, often expanded, creative control over the use of their products. While this may be the first relatively high-profile sign-up we’ve seen, it’s not likely to be the last, so it’s worth watching this space as it develops. 

Comments

Post a Comment

Popular posts from this blog

Ad-Supported Tiers Are Winning, But Why Are Streamers So Keen?

Image
 As a spate of price increases touch all but the ad-supported tiers of most of the major streaming players, it’s clear the streaming world has thoroughly embraced the ad-tier model as a key driver of future streaming growth. But with so many streamers actively pushing new subscribers to their cheaper plans, what’s the secret? And how will this help them achieve that coveted profitability?One of the best entertainment lawyers Los Angeles Brandon Blake, from Blake & Wang P.A, takes a closer look. Brandon Blake Broader Audiences It’s no news that the wider market- Wall Street in particular- has finally realized that the pandemic-spurred boom in subscription numbers is unsustainable. Premium tiers may deliver premium features, but at a time when most households are looking for ways to cut costs, they’re less attractive than they once were. For many, this means a cheaper offering with only a little less convenience looks a whole lot more attractive. What is quite interesting is tha
Read more

Fall Film Festival Acquisitions to Know

Image
 With the traditional red carpet promenade severely limited by strike action, the fall film festival circuit gave indie movies a near-unprecedented chance to shine to buyers. While some jitteriness around the SAG-AFTRA waiver system caused slower-than-normal sales and some of the larger AMPTP distributors to opt for a ‘wait and see’ policy, there have been some strong acquisitions to keep on your radar. Entertainment lawyer Brandon Blake, of Blake & Wang P.A., highlights just a few to watch. Brandon Blake Festival and Post-Festival Sales Of the titles acquired during the festival itself, we see Sing Sing (to A24) headed to 2024 theatrical release in a seven-figure deal. Sorry/Not Sorry (Greenwich Entertainment) and Do Not Expect Too Much from the End of the World (Wavelengths)also attracted considerable festival attention. Despite the quiet market overall for documentaries, Netflix took home Mountain Queen: The Summits of Lhakpa Sherpa alongside Women of the Hour as the fi
Read more

The Sticky Question of Residuals: Could Netflix Have the Answer?

Image
 Has there been any more contentious issue in the entertainment industry this year than that of residuals? One potential solution to this thorny issue lies in the success-based residual metrics already employed in parts of Europe- ironically, and most notably, by Netflix themselves. Brandon Blake, entertainment lawyer Los Angeles from Blake & Wang P.A, takes a look at this most unusual development. Brandon Blake The European Model Where European copyright legislation and Netflix meet, there could be middle ground. Netflix has already established several collective streamer residual agreements in European countries, from France to Germany, and Scandinavia. These agreements offer additional compensation to creators for well-performing content. However, the level of transparency regarding compensation details remains a concern for both unions and streamers.   It’s no secret that European entertainment markets are more heavily regulated than others, with EU law mandating regi
Read more