This week Universal Music Group, the Dutch–American multinational music corporation announced the formation of a non-fungible token (NFT) metaverse music group called Kingship, which features four Bored Ape Yacht Club (BAYC) NFTs. The announcement was made by Timbaland, the producer of the smash record Timbaland. He also revealed plans to create a metaverse-based entertainment firm called Ape-In Productions. AIP will leverage BAYC NFTs.
Universal Music Group Admits to the BAYC Supergroup NFT: Kingship
Non-fungible token (NFT), collectibles are all the rage, but one collection, Bored Ape yacht Club (BAYC), has been a big hit in terms of popularity and sales.
The data from dappradar.com shows that BAYC is valued at $1.82 billion. It also has $658 million of all-time sales. BAYC’s trade volume has been among 9,296 traders across 22,122 sales. An average BAYC NFT sale price on November 13th was around $29.74K.
BAYC’s popularity has inspired one of the largest music firms in the world, Universal Music Group (UMG) to start a metaverse supergroup called Kingship. Reports indicate that the “10:22PM” project’s founder, Celine Joshua, started the Kingship initiative with the popular NFT collector Jimmy McNeils.
The 10:22PM web portal’s description says: “As Universal Music Group’s next-gen Web3 label, 10:22PM has been discovering, developing and empowering artists, digital creators and brands since 2018.” Every one of Kingship’s four members, Celine Joshua, told the press; “has their own story and personality that influences and contributes to Kingship’s overall narrative.”
Timbaland, Hit Record Producer, Reveals Ape In Productions
Following UMG’s and 10:22PM’s announcement, Timothy Mosley, known professionally as Timbaland, announced the launch of a BAYC entertainment label called Ape-In Productions (AIP). Timbaland spoke with Variety about the launch of AIP, a BAYC entertainment label that aims to support creators.
“We’ve built a new entertainment platform in the metaverse that puts creative control and long-term ownership back in the hands of artists, a concept that is incredibly important to us,” Timbaland told the Variety contributor Jem Aswad.
According to Variety’s report, AIP will reveal a music group called “Thezoo” and a track which will be tethered to an NFT collectible called “Apesh!t.” The report further adds that AIP was developed by Timbaland and a number of BAYC community members. Jonathan Tenenbaum, Andrew Rosener, Gary Marella, Clement Kwan, and Timbaland’s Beatclub will also contribute.
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Images CreditsShutterstock. Pixabay. Wiki commons. AIP. 10:22PM.
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