Universal Music acquires Ape NFT in order to Become Virtual Music Leader
- ByStartupStory | March 21, 2022
The popularity of non-fungible tokens was capitalized by Universal Music Group by acquiring one of the cartoon apes that have taken the world of digital collectibles by storm in order to steer a wholly virtual music group.
On Friday, Universal’s 10:22 PM label said that it paid around $360,817 in order to just purchase Bored Ape #5537, a female character now known as Manager Noët All, in order to lead the group called Kingship it founded in November .
Kingship, that solely exists in digital form, will soon have its own website and presence on messaging platform Discord, and eventually it will produce new music and give virtual performances in a loose term commonly used to describe a place where the physical and digital worlds meet- the metaverse.
All the band members are NFTs – three Bored Apes and a Mutant Ape, on loan from collector Jim McNelis, like Manager Noët All. A virtual band, Gorillaz, formed in 1998 by musician Damon Albarn and comic artist Jamie Hewlett, on Warner Music Group’s Parlophone label released seven albums.
For Kingship, Universal’s 10:22 PM label sought out the Bored Ape Yacht Club, one of the best-known NFT collections on the blockchain, comprising 10,000 anthropomorphic apes, each with distinct clothing, fur and expressions.
With investors including “The Tonight Show” host Jimmy Fallon, NBA superstar Steph Curry, pop star Justin Bieber, and billionaire investor Mark Cuban, bored Apes have become a status symbol for celebrities.
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