Music record company Universal Music Group announced today that they have formed a “metaverse group.” The four characters depicted in the NFT series of Bored Ape Yacht club are the protagonists. The virtual band was reimagined with Crypto technology.
The Kingship band consists of characters from the NFT owned by the famous collector Jimmy. “J1mmy” McNelis recently sold his other Bored Ape Yacht NFT at a Sotheby’s auction for $3.4 million. Universal Music’s “Next Generation Iconic Band” will be launched first at 10:22pm.
As the online metaverse develops and evolves, the label will develop music for the band to “perform” in animation and virtual world environments. Universal Music also plans to release an NFT based on the band for exclusive events, and will give existing Bored Ape Yacht Club NFT holders the right of first refusal.
Band manager Nicholas Adler is also the rapper and manager and brand curator of the NFT collection Snoop Dogg. He told Decrypt that a representative of Universal Music had contacted him, hoping that he could create a project around Bored Ape Yacht Club.
Adler has established contact with McNelis, an early collector of hundreds of NFTs on the project. Adler proposed to cooperate with some of the Bored Ape Yacht owned by McNelis with rare attributes, such as collections with golden fur or laser eyes. They are studying to tell some stories and create some music around the characters.
“Our goal is to creatively and correctly package Bored Ape Yacht,” Adler said. “We are developing the personalities of these NFT characters and developing voices and stories around them. I think this project, process and music will become consumers and fans the most hope Something to see.”
Adler hinted that the NFT owned by McNelis created value and pointed to Sotheby’s auction record. They will also collaborate with other creators to make the Kingship project a reality.
“With an excellent team of cooperation, backed by the world’s largest record company, I think we can create amazing music and stories,” Adler said. “We hope it is real and we will test it before launching on the market. Community.”
Bored Ape Yacht Club, created by Yuga Labs, is one of the most popular series on the NFT market. In the 1,000 Yacht Club NFT and the subsequent Bored Ape Kennel Club and Mutant Ape Yacht Club. This Ethereum-based project has achieved more than one billion U.S. dollars in sales in the secondary market.
NFT can be used to prove scarce digital items, including artworks, profile pictures, video clips, etc. According to data from DappRadar, the NFT market surged during 2021, generating nearly $10.7 billion in transaction volume in the third quarter.
The owner of Bored Ape not only owns increasingly valuable digital collectibles, the cheapest price currently on the OpenSea market is about $156,000, but also owns all the commercial rights of these NFTs themselves.
In October, the Hollywood agency Creative Artists Agency (CAA) signed a cooperation agreement with the famous NFT collector 0xb1 to commercialize his personal NFT collection, including works from Bored Ape Yacht Club, Mutant Ape Yacht Club and Cool Cats, among others Owners can also use their Bored Apes to produce derivative NFTs and physical goods.
Kingship owns three Bored Ape Yacht and one mutant ape, all of which are part of McNelis’ personal collection. McNelis is also the founder and CEO of NFT42, an NFT production company whose investors include Mark Cuban and Gary Vaynerchuk’s Vayner Fund.
Although individual NFT owners have the right to use their respective Bored Ape roles, Yuga Labs is also working hard to expand the entire brand to the entire entertainment field. The studio recently partnered with senior music executive and technology investor Guy Oseary to spread Bored Ape Yacht to music, film, and television.
Metaverse refers to the future development of the Internet, where users will command their avatars in a shared 3D space. NFT avatars and digital assets owned by other users are expected to play an important role in the future. These shared environments will be used for social interaction, work, entertainment, etc.
Facebook is one of the companies planning to take major initiatives in this area. Facebook recently changed its parent company’s name to Meta to reflect its growing focus on Metaverse.
Ethereum-based metaverse games, such as Decentraland and the upcoming the Sandbox, have seen their token valuations soar after Facebook took action. Both projects can serve as potential digital venues for virtual concerts, as Snoop Dogg plans to do in the Sandbox.
Gorillaz is a virtual band project created by Blur musician Damon Albarn and illustrator Jamie Hewlett. The Grammy-winning band founded in 1998 is described as a cartoon image and has sold 25 million records so far. Adler confirmed that Kingship will draw inspiration from the project.
He said, “Gorillaz is the North Star in this field.”