By
Chimamanda U. Martha
April 17th, 2024
The NFTs minted for the band would be exclusively available to the current Bored Ape NFT owners.
The Universal-led band would feature McNelis’ three Bored Apes and one Mutant Ape; the Golden Fur and Bluebeam Apes included. Now you can enjoy music and get access to NFT collectibles in the metaverse with Kingship, a novel virtual music band that will feature digital apes. Folks of the 90s would remember a similar group called the Gorillaz created by Damon Albarn and Jamie Hewlett in 1998.
The Kingship band would use the NFT avatars part of the Bored Ape Yacht Club created by Yuga Labs and owned by NFT enthusiast and collector Jimmy NcNelis. Universal Music Group’s Web3 label 10:22 PM will be the architect behind this amazing virtual ape band. 10:22 PM is an industry-defining new-gen entity that brings together rare and innovative talent in the realms of music, NFTs, metaverse, gaming and Blockchain. In a press release published on the music company’s website, the record label announced the creation of the virtual band.
Kingship – A Novel Music NFT Enterprise by Universal
The fact that mainstream companies have a newfound likeness for the concept of NFTs proves the penetration power of crypto. Universal is the world’s largest record company and with Kingship, it would set new records in the music company paving the way for a lot of many to follow.
According to a report by Decrypt, the NFTs minted for the band would be exclusively available to the current Bored Ape NFT owners. Also, the same article reported Nicholas Adler as the band manager for Kingship. In his interview to Decrypt, the band manager expressed his excitement regarding the project and the plans they have for designing the band’s back story as well as for the music.
The band would feature McNelis’ three Bored Apes and one Mutant Ape; the Golden Fur and Bluebeam Apes included. Celine Joshua, the head of 10:22 PM, confirmed that a team is already at work to convert these NFTs into 3D characters. She started the label with an ambition to boost novelty in the music industry and sees Kingship as a fun and imaginative project. The metaverse it creates would also give rise to a new virtual club of artists, fans and community engagement enjoying distinct experiences and products.
McNelis, on the other hand, stressed the commercial advantages of NFT collectibles; a trend that has boomed in 2021 accounting for nearly $10.7 billion worth of trading volume in Q3, according to DappRadar. However, the project is still in developer mode and the company has not confirmed any specifics. Whether potential fans would be given access to the musical NFT and related collectibles is yet to be confirmed by Universal Music Group.
What Is The Bored Ape Yacht Club?
Created by Yuga Labs, The Bored Ape Yacht Club is a popular and highly successful NFT project. It initially minted 10,000 unique NFTs in April of this year. Post selling out the entire collection, it then launched another collection named Mutant Ape Yacht Club with additional 20,000 apes. Yuga Labs boasts of amassing over $1 billion in sales as reported by CryptoSlam.
As the most economical Ape can be bought at 156,000 on the OpenSea marketplace, owners of these collections have a lot of advantages with the current trends. As reported earlier, more and more people are taking an interest in crypto mainly due to NFTs and the people involved in it like mainstream businesses, celebrities and enterprise hulks making it somewhat of a cool thing to do. Apart from it being trendy, there are also reasons like unique ownership as well as resale value in the NFT world. The burgeoning NFT economy is now moving into metaverse creation to provide users with a much enhanced virtual experience and at the same time massive profits from their NFT collections.