Universal Music bought a Bored Ape NFT for 361,000$ to manage digital band KINGSHIP

Universal Music Group’s 10:22pm label has just bought a Bored Ape NFT (Bored Ape #5537) to manage the UMG digital band KINGSHIP. this is the first NFT from the Bored Ape Yacht Club (BAYC) collection that has been bought by the record label.

Bored Ape #5537 is called Noët All. The female character will serve as the manager for the band. Celine Joshua, a former Sony executive, founded 10.22pm as a UMG subsidiary, which is currently signing digital creators and intellectual property. Since 2018, the label has been discovering, developing, empowering artists, digital creators, and brands. Celine Joshua stated:

“We have been incredibly busy developing Kingship since our initial announcement and I’m so excited to introduce manager Noët All, one of many new characters that will be joining the Kingship universe. As the manager of the group, manager Noët All will help drive the storyline and allow us to communicate with the community”

On March 18, 2022, UMG announced that it paid 125.84ETH which on the current exchange rate is worth $360,817, to acquire manager Noët All. The digital KINGSHIP band characters are all from the extremely successful Bored Ape Yacht Club NFT collection consisting of one Mutant Ape and three Bored Apes. The KINGSHIP band is inspired by the Gorillaz, the iconic virtual band founded by musician Damon Albarn and artist Jamie Hewlett.

“For it to become part of culture, I think that would be an amazing thing,” said McNelis to Reuters.

With celebrities like Snoop Dogg, Justin BieberSteve Aoki, Post Malone, and many more obtaining an ape, the bored ape Yacht club has evolved to be one of the most prominent Nonfungible token collections with 10,000 bored apes. Yuga Labs, the creators of the Bored Ape Yacht Club project, just launched the $APE token, which has now been listed on major exchanges including Coinbase, Binance, Kucoin, and others. Free $APE tokens were airdropped to all Bored Ape NFT holders. With the popularity for the collection expanding, Bored Apes are also being used in commercials, and being used as brand logos. In 2021 Timbaland, a Grammy-winning musician has announced the creation of Ape-In Productions (AIP), an entertainment brand built upon the Bored Ape Yacht Club NFTs.

Image Source: Official Press