The world’s leading record group, Universal Music, has partnered with NFT project Bored Ape Yacht Club to create music under the group name Kingship. The virtual group is to become the first to be signed up by Universal’s 10:22pm label, set up to be a ‘next-gen Web3 label’.
The characters that will form the group belong to a collection owned by Jimmy McNelis, who recently sold some of his other BAYC NFTs for US$ 4.3 million. One of the characters that will form the band, the golden ape, is currently valued at more than USD 300,000.
However, Universal will not be alone in the world of ape-based virtual bands, as musician and producer Timbaland is entering the sector with a new company, Ape-In Productions, that is also using Bored Ape Yacht Club characters to form a group, named TheZoo.
NFTs are becoming a new route for artists to raise funds for themselves or for causes by selling one-off digital artistic creations. Recently, film director and producer Quentin Tarantino announced that he’d auction off unseen script versions of his Pulp Fiction movie as NFTs. A few days ago, the artist M.I.A. released for auction NFTs of her new song, Babylon, with additional special content. The money generated through her auction will go to a US-based rehabilitation institution.