Last year, NFTs became mainstream, and some of the most popular collections became celebrities. The most famous of them is Bored Ape Yacht Club, a bored-looking ape avatar which comes in thousands of different appearances.
And it was announced recently that it would be getting a Hollywood film that would be unveiled in June.
The NFT Collection of the Bored Ape Yacht Club Is Getting a Hollywood Film Trilogy
The non-fungible token (NFT) collection of the Bored Ape Yacht Club will now do more than just sell NFTs. Coinbase announced a new film project with a Bored Ape Yacht Club film trilogy titled the "Degen Trilogy."
⭐️DEFINITELY SOMETHING⭐️
— Coinbase 🛡️ (@coinbase) April 11, 2022
We're creating an interactive three-part film featuring the @BoredApeYC & @apecoin communities.
Come build with us!
👉 https://t.co/bmp2ZdT6SG pic.twitter.com/5vIRnbyupu
The first installment will be unveiled during NFT NYC, an annual NFT event held in New York between June 20 and June 23.
According to CNET, a "degen" is a frequent and often endearing phrase used to characterize someone who buys coins or NFTs without performing any real investigation into what they're actually buying.
The owners of Bored Ape NFTs have been invited to audition their apes for the trilogy by Coinbase. Each Bored Ape NFT has unique attributes and accessories, and Coinbase is encouraging owners to build a storyline for their character to potentially appear in the films.
If chosen, the NFT's owner will be given a $10,000 licensing fee in Bitcoin or Yuga Labs' own Ape Coin.
To access the trilogy, viewers will need to open a Coinbase wallet, which could coincide with the introduction of CoinbaseNFT, Yahoo reported.
Last month, Coinbase announced the impending launch of CoinbaseNFT, a peer-to-peer marketplace where users may discover, mint, purchase, and exhibit NFTs.
NFT's Infiltration to the Movie Scene
While Coinbase may have been one of the first to bring NFTs to the movies, the film industry has been collaborating with NFTs for quite some time. With Coinbase and its film production capabilities, the platform may be planning to join the film industry revolution, Yahoo reported.
Recently, the movie industry has developed deeper relationships with NFTs as filmmakers turned to NFTs for fundraising. NFTs even started to attract some of Hollywood's biggest names.
CNET mentioned that Bored Apes is a Twitter profile image used by celebrities such as Eminem, Snoop Dogg, and Steph Curry. During a Tonight Show interview, Paris Hilton and Jimmy Fallon addressed their respective Apes, which were seen by over a million people despite being highly derided.
Separately, FF3, a new platform that allows the film industry to fund their movies through NFT sales, began in January. Investors can receive a portion of film revenues in addition to collectible NFTs that could be worth a lot of money in the NFT market.
What Else Does the Bored Ape Yacht Club Offer to the Market?
Bored Ape Yacht Club, which was founded by Yuga Labs, has grown to become the world's largest NFT collection. Bored Ape NFTs, which formerly sold for around $250 each, are now unavailable for just less than $300,000.
According to CNET, the Bored Ape Yacht Club mobile game is being developed with Animoca Games. In addition, Yuga Labs has partnered with toymaker Superplastic to release Ape figurines, and a pop-up burger shop was opened in California.
