Reese Witherspoon is getting in on the NFT craze.
Witherspoon’s media company Hello Sunshine is partnering with World of Women — an NFT collective with over 10,000 works from women creators — to develop WoW characters into feature films, scripted and unscripted TV shows and educational events. The move is yet another sign of the growing popularity of NFTs and their potential in the entertainment realm.
"While the crypto and NFT space is largely dominated by men, there are inspiring leaders like World of Women creating incredible communities for women during this massive shift for media and technology," Witherspoon said in a statement. "We're proud to partner with WoW to expand their universe of characters and to develop innovative scripted and unscripted content."
WoW founder and digital illustrator Yam Karkai echoed the sentiment: "I could not have envisioned a better partner to expand the ethos core values of our beautiful community through storytelling in new and innovative ways." But this isn’t WoW’s first brush with Hollywood; the collective is signed to Guy O’Seary, whose management roster also includes Madonna, U2 and Yuga Labs, the creators of the Bored Ape Yacht Club. And WoW has previously attracted the attention of celebrities like Eva Longoria and Shonda Rhimes, whose Twitter profiles each feature a WoW NFT.
Witherspoon isn’t alone: Plenty of celebrities are jumping on the NFT train. BFF, an on-ramp for women and nonbinary people into crypto, has recruited the likes of Tyra Banks and Gwyneth Paltrow. Afterparty, meanwhile, relies on the appeal of exclusivity. Members of the NFT community, which hosts minting parties at a mansion in the Hollywood Hills, include musician Jaden Hossler and model Heidi Klum. Other efforts have been met with backlash, like Matt Damon becoming the face of Crypto.com, Paris Hilton and Jimmy Fallon comparing their Bored Apes on The Tonight Show and Larry David starring in FTX’s Super Bowl ad.
Other crypto companies are exploring entertainment options, too. Dapper Labs has a licensing deal with the NBA, and Larva Labs has signed with United Talent Agency to sell the rights for three NFT collections for film, TV and video games. Although, since NFT IP standards aren't set in stone, the expectations among NFT users differ from those in the traditional creative world. Companies are navigating these expectations as crypto's entertainment possibilities pile up.