The agency's chief metaverse officer spoke with The Hollywood Reporter's senior business editor Ashley Cullins at the 12th annual Power Business Managers event, where Richard Feldstein was presented the Business Manager Icon award.
“We imagine that there will be a similar level of disruption in how content is created and distributed,” she said.
Popper emphasized that anyone can capitalize on the disruption. She pointed to Hopkins, whose first NFT drop of a series of more than 1,000 art pieces inspired by his career in Hollywood, sold out on the OpenSea marketplace. In the art world, artists have historically only profited off of the initial sale. She said that contracts written for NFTs allow the creators to share in profits for each subsequent purchase. Hopkins has already made more money on the secondary market, she shared.
When asked about new ways of exploiting existing intellectual property, Popper said NFTs allow for limitless opportunities limited only by the owners’ creativity and imagination. Her team recently signed the owners of Bored Ape Yacht Club’s Jenkins the Valet. The agency is now working with them for opportunities across film, books and podcasts.
“Hollywood is always on the search for interesting new IP that has a built-in community, whether it’s a book or platform or newspaper article that picked up a lot of buzz,” Popper said. “There’s a play here where you as the owner are able to then commercialize and do anything.” The CAA executive also emphasized that the pandemic accelerated opportunities in the metaverse. Over the past two years, for example, she said that people have increasingly embraced concerts in virtual worlds like Roblox, Fortnite and Minecraft. In addition to selling merchandise, she said that people can even monetize dance movements for their avatars.
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