Universal Music label acquires ape NFT to lead virtual music group - BusinessWorld Online

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Universal Music label acquires ape NFT to lead virtual music group - BusinessWorld Online
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THE UNIVERSAL Music Group is capitalizing on the popularity of non-fungible tokens by acquiring one of the cartoon apes that have taken the world of digital collectibles by storm to lead an entirely virtual music group. READ:

a female character now known as Manager Noët All, to lead the group it founded in November called Kingship.platform Discord, and will eventually produce new music and give virtual performances in the metaverse, a loose term commonly used to describe a place where the physical and digital worlds meet. Like Manager Noët All, all the band members are non-fungible tokens — three Bored Apes and a Mutant Ape, on loan from collector Jim McNelis.

For Kingship, Universal’s 10:22PM label sought out one of the best-known NFT collections on the blockchain, the Bored Ape Yacht Club, comprised of 10,000 anthropomorphic apes, each with distinct clothing, fur, and expressions.host Jimmy Fallon, pop star Justin Bieber, NBA superstar Steph Curry and billionaire investor Mark Cuban.

For Universal Music, Kingship presents an opportunity to learn how to create characters and stories that generate excitement in the metaverse. “It’s about understanding the ethos of the space,” said 10:22PM founder Celine Joshua, whose label serves as a laboratory for experimenting with new forms of

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