Universal Music Label Acquires Ape NFT to Build Virtual Music Group

blockchain.news:

Universal Music Group has bought one of the popular non-fungible tokens (NFT) to build a virtual music group, according to Reuters.

Universal's 10:22 pm label purchased Bored Ape #5537 for $360,817 — a female character, now known as Manager Noët All. The NFT will lead a group that was founded in November called Kingship.

Kingship only exists in digital form and it will also have a website and presence on messaging platform Discord. Future plans for Kingship include producing new music and hosting virtual performances in the metaverse.

On Kingship, similar to Manager Noët All, all the band members are NFTs — three Bored Apes and a Mutant Ape, on loan from collector Jim McNelis.

However, Universal's idea of creating virtual bands is not new. Gorillaz, a virtual band formed in 1998, released seven albums on Warner Music Group's Parlophone label. While popular Japanese pop star Hatsune Miku is a hologram.

Bored Ape #5537 is part of the Bored Ape Yacht Club NFT collection, one of the best-known collections on the blockchain. It is comprised of 10,000 anthropomorphic apes, each with distinct clothing, fur and expressions.

Bored Apes' popularity has turned them into a status symbol for celebrities, with investors, including «The Tonight Show» host Jimmy Fallon, pop star Justin Bieber, NBA superstar Steph Curry and billionaire investor Mark Cuban.

Kingship will serve as a platform for people to learn how to create characters and stories that generate excitement in the metaverse.

10:22pm founder Celine Joshua said, «it's about understanding the ethos of the space.» 

BAYC's ApeCoin

On March 17, Crypto token ApeCoin ($APE) was unveiled in the official Bored Ape Yacht Club (BAYC) Twitter account, which detailed initiatives planned