Coinbase (NASDAQ:COIN) stock has had a major few years. Most notably, it ushered in a new era for cryptocurrency investing, becoming the first crypto exchange listed on the Nasdaq. Now, it’s continuing to wow investors. Most recently, the company is showing off its versatility by embarking on an entertainment venture. This first project is certainly a “go big or go home” moment; the company is producing a Bored Ape Yacht Club (BAYC) movie trilogy.
This crypto trading platform has certainly become more of a household name in 2022. Coinbase has seen great success, exchanging billions of dollars in assets per day and becoming the first publicly traded exchange stock in the United States. In fact, Coinbase is busy enough to constitute the second-largest crypto exchange in the world by transaction volume, trailing only Binance (BNB-USD).
On top of this, Coinbase has also boosted its notoriety through clever campaigns. For example, it had one of the most-talked-about Super Bowl commercials, featuring a bouncing QR code ad spot. The commercial was a standout moment in the event’s crypto-heavy ad slate, allowing the brand to permeate the mainstream even more.
This past year, Coinbase has also gone beyond the typical duties of a crypto exchange. Its blog provides educational content, for instance, teaching investors about topics like yield farming and patent trolling.
It seems like the company isn’t through with expanding, however. Today, it’s embarking on a new adventure, taking non-fungible tokens (NFTs) to the big screen.
Coinbase to Make Bored Ape Yacht Club Movie Trilogy
The Bored Ape Yacht Club is perhaps the best-known NFT collection in the world. BAYC’s 10,000 ape tokens launched roughly a year ago but have quickly become one of most popular collections by trading volume. BAYC enjoys a host of celebrity “Yacht Club” members as well, including Mark Cuban, Jimmy Fallon and Eminem.
The fast success of these iconic ape tokens has allowed developers to rapidly expand on the NFT ecosystem. Just last month, BAYC founder Yuga Labs announced a Bored Ape metaverse to supplement the white-hot collection. Now, keeping up the pace, the Bored Ape Yacht Club will be heading to Hollywood with the help of Coinbase. The company just announced plans to produce a Bored Ape Yacht Club movie trilogy.
This news comes via Coinbase’s media arm, a project which the company announced just last year. As a part of production, Coinbase invites Bored Ape token holders to submit their NFTs as potential characters in the films and allows holders to write up character descriptions for consideration by the casting department.
This movie trilogy will be the most high-profile project by the company’s fledgling media arm, but COIN says it won’t be the last. It has plans in store for several other Yuga Labs NFT collections, including the Mutant Ape collection.
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
