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Why Talent Agency UTA Is Going Big on NFTs
Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
If you need more proof that NFTs have officially invaded Hollywood, look no further than United Talent Agency’s client roster.
The Beverly Hills-based talent agency recently signed Deadfellaz, an NFT collection of 10,000 zombie portraits. UTA counts Larva Labs, the creators behind the CryptoPunks NFT project, as a client, too. Even Coinbase, the publicly traded cryptocurrency exchange, is now part of UTA’s portfolio.
The agency’s foray into the crypto world shouldn’t come as a big surprise. Digital artists are selling NFTs, or non-fungible tokens, for sky-high prices. NFT exchanges like NBA Top Shot have attracted large fan bases willing to shell out money for digital collectibles. And entertainment companies in the music, film and gaming industries have been quick to venture into NFTs—even if there’s still plenty of skepticism about the digital assets.
“At first, my instinct was that this would be disruptive of things like art,” Lesley Silverman, UTA’s head of Web3 and a former fine art agent, told dot.LA. “We as an agency quickly realized that there would be similar innovation around the way we think about the broader media landscape, and that NFTs, and Web3 more broadly, would impact all of them.”
Silverman was the first full-time digital assets agent at UTA, which claims to be the first major talent agency to launch a dedicated Web3 practice. Other Hollywood talent agencies have since entered the fray—including rival WME, which recently signed a pair of Bored Ape NFTs.
Lesley Silverman, UTA’s head of Web3.
Provided by UTA
Initially, UTA aimed to help its existing clients navigate the Web3 world and launch NFT projects, such as a collaboration between Oscar-winning film score composer Hans Zimmer and NFT artist ThankYouX. But the agency soon realized that crypto is blooding a new generation of creators, founders and influencers who could use representation, Silverman said. Her team now helps clients like Deadfellaz secure brand partnerships, merchandising deals and live events—just like how UTA helps build the careers of actors, musicians and other entertainers.
“Our role is really to sit at the intersection of our clients and the things that may seem out of reach,” she said. “Their big ideas, their exciting plans—and the folks who they want to be connected to in order to carry those plans out.”
UTA has four people across the agency who work closely within the Web3 space, with plans to grow the Web3 group in the coming months. The group has facilitated more than 30 NFT drops, partnerships and other initiatives since launching in early 2021, according to the agency. The division has also worked to build a diverse talent roster, adding female-led projects and creators of color, Silverman said.
With the Web3 landscape constantly evolving, UTA will “remain nimble” when it comes to its NFT strategy, Silverman noted. One approach that’s currently resonating with fans is tying digital assets to real-world goods and experiences; indeed, the agency brokered a deal last month that will let Deadfellaz NFT holders create custom Gilson skis or snowboards depicting their own NFT artwork.
“It’s measurable that consumers want those things, and we are certainly not going to take that information lightly,” Silverman said. “Those are two areas that we will definitely look to expand and advise our clients to pursue.”
UTA recently commissioned a survey which found that while only 6% of U.S. consumers aged 16-to-54 have owned an NFT, about 38% want to own one in the future. Though the study’s results were bullish about the Web3 space overall, they did identify some obstacles; for instance, many consumers remain concerned about crypto scams and market volatility, or simply don’t know how to buy an NFT or what to do with one.
If the crypto industry can reduce those friction points, Silverman believes more consumers will flock to digital assets.
“All of that will lead to just more and more consumers entering into the space and equating digital ownership with how they interact socially, how they participate in communities and how they participate in fandom,” she said.
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Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
⚖️FTC’s "Click to Cancel" Rule and Its Ripple Effect on Tech
09:58 AM | October 18, 2024
🔦 Spotlight
Happy Friday Los Angeles,
The FTC’s new “Click to Cancel” rule is shaking up subscription-based tech. Now, instead of navigating a maze of cancellation hurdles, users can cancel subscriptions as easily as they signed up—with a single click. This shift is a wake-up call for SaaS, streaming, and app-based companies, where once-hidden exit options often kept users around simply because canceling was a hassle.
The rule also requires businesses to send regular renewal reminders, ensuring customers stay informed about upcoming charges. It's more than a cancellation button—it’s about transparency and giving users control over their decisions.
For startups, the impact goes deeper than UX adjustments. Many have relied on "dark patterns," which subtly discourage cancellations by hiding the exit. Now, companies must shift toward building genuine loyalty by delivering real value, not by complicating exits.
While this might affect retention rates initially, it could lead to more sustainable business models that rely on satisfaction-driven loyalty. Investors may start prioritizing companies that emphasize transparent, long-term engagement over those that depend on dark patterns to maintain retention metrics.
The rule opens the door to more ethical UX design and a truly user-centered approach across the tech industry. It may even set a precedent against manipulative design in other areas, such as privacy settings or payment methods.
Ultimately, the “Click to Cancel” rule presents an opportunity for the tech industry to foster trust and build stronger customer relationships. Startups and established companies that embrace transparency will likely stand out as leaders in a new era of customer-centric tech, where trust—not tricky design—is what retains users.
As the tech landscape continues to evolve, LA Tech Week 2024 offers a chance to explore these shifts in real-time. Check out the upcoming event lineups to stay informed and make the most of your time:
For updates or more event information, visit the official Tech Week calendar.
🤝 Venture Deals
LA Companies
- Ghost, a company supporting top brands and retailers with streamlined logistics and fulfillment solutions, raised a $40M Series C funding round led by L Catterton to fuel its continued growth and innovation. - learn more
- Hello Cake, a sexual wellness and health brand, raised an $18M Series B funding round led by Silas Capital and Strand Equity and acquired Trigg Laboratories, a Las Vegas-based company, to expand its product line and market presence. - learn more
- Horizon Surgical Systems, a microsurgical robotics company, has raised a $30M Series A funding round led by ExSight Ventures to advance its platform, fund first-in-human studies, and expand its team to drive further innovation. - learn more
- Terray Therapeutics, a biotech company using generative AI to develop small-molecule therapeutics, raised $120M in a Series B funding round led by Bedford Ridge Capital and NVentures, to advance it’s internal programs to clinical trials and further develop its AI-driven platform, tNova. - learn more
LA Venture Funds
- Finality Capital Partners participated in a $2.85M seed round for Blockcast, a decentralized content delivery network focused on lowering streaming costs and enhancing quality for digital media providers. - learn more
- Assembly Ventures participated in a $27M Series A round for Monogoto, a provider of software-defined connectivity solutions that enable secure, cloud-based IoT and cellular network management on a global scale. - learn more
- StoryHouse Ventures participated in a $3M seed round for Parakeet Health, a generative AI company dedicated to enhancing patient engagement for healthcare providers - learn more
- Angeleno Group participated in a $32M Series C round for REsurety, a company that recently launched an innovative clean energy marketplace aimed at providing better financial and operational insights to support renewable energy transactions. - learn more
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🔦 Spotlight
Happy Friday Los Angeles,
As many of you know, LA Tech Week is right around the corner, kicking off next Monday October 14th bringing together founders, creatives, investors, and engineers for a week of immersive events, panels, and socials across the city. From blockchain and AI to biotech and design, LA Tech Week is a chance to dive into the ideas shaping today’s technology landscape.
What to Look Forward To
Insights from Visionary Leaders: Hear firsthand from industry trailblazers as they share stories, challenges, and key lessons from their experiences. Expect fresh perspectives on AI, venture capital, biotech, and the ethical questions around emerging technologies.
Interactive Panels: This week isn’t about watching from the sidelines; it’s about engaging directly with the tech community. Participate in hands-on panels discussing everything from startup scaling to ethical AI, with honest insights from those actively shaping these fields.
Networking Mixers & Social Events: Meet and connect with founders, VCs, developers, designers, and fellow techies across LA. Rooftop mixers, lunch meetups, and creative gatherings offer the perfect chance to spark ideas and collaborate.
Plan your week with the daily lineup, organized by location for easy navigation:
For updates or more event information, visit the official Tech Week calendar.
Enjoy LA Tech Week 2024!!
🤝 Venture Deals
LA Companies
- Clout Kitchen, a Los Angeles and Manila based startup, has raised $4.45M in seed funding, co-led by a16z SPEEDRUN and Peak XV’s Surge, to develop AI-powered digital twins, which enables gaming creators to produce realistic virtual avatars for content and fan engagement. - learn more
- MeWe, a privacy-focused social media platform, has raised an initial $6M in Series B funding led by McCourt Global to support Web3 integration and expand its decentralized network for 20 millions users. - learn more
- Suma Wealth, a financial platform aimed at empowering Latino entrepreneurs, raised a $7M seed round, with participation from ResilienceVC, Acumen, Commerce Ventures, Ascendo Venture Capital, and Cooley, to enhance its AI-driven financial tools, including the recent acquisition of Mooch, an AI-powered personal finance app that expands its personalized financial management solutions. - learn more
LA Venture Funds
- EGB Capital participated in a $10M Series A funding round for MiLaboratories, which develops software that enables biologists to independently analyze complex genomic data, accelerating research and discovery in fields like drug development. - learn more
- Crosscut Ventures participated in the $13.75M seed round for Airloom Energy, a company focused on developing airborne wind energy technology to harness high-altitude winds, with plans to accelerate a pilot project in Wyoming. - learn more
- Alpha Edison and ICM Partners participated in a $59M Series B round for Q-Ctrl, an Australian quantum infrastructure software provider, bringing its total funding to $113M. - learn more
- Alexandria Venture Investments participated, and TCG co-led, a $100M Series A round for Judo Bio, a biotechnology company pioneering oligonucleotide therapies targeted at kidney delivery. - learn more
- TIME BioVentures participated in a $30M Series C round for Rivermark Medical, a leading provider of minimally invasive solutions for Benign Prostatic Hyperplasia. - learn more
- Vamos Ventures participated in a $405M Series F round for Form Energy, Inc., a U.S.-based tech company pioneering a cost-effective, multi-day energy storage solution for commercial use. - learn more
- Navitas Capital and Fifth Wall participated in a $21.5M Series B round for Document Crunch, a construction document compliance platform based in Atlanta, GA. - learn more
- Overture VC participated in a $5.5M Seed funding round for Molg Inc., a company developing robotics and software for circular manufacturing, designed to disassemble electronics efficiently and recover valuable materials to reduce e-waste and support sustainable production. - learn more
- Fifth Wall led a $15M funding round for Purpose Green, a Berlin-based climate tech company, bringing its total funding to $18.4M. - learn more
LA Exits
- The Parking Spot, a leading near-airport parking provider, has been acquired by KKR from an affiliate of Green Courte Partners, LLC, enhancing its portfolio in travel-related infrastructure. - learn more
- Options MD, a Los Angeles based telemedicine platform that provides care for people suffering from severe and treatment-resistant mental illness, is set to be acquired by Resilience Lab, an AI-driven provider focused on enhancing mental health care access. - learn more
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