Universal Music Group Buys Bored Ape For $360K To Lead Their NFT Band “KINGSHIP”

Universal Music Group (UMG) (OTCEM: UMGNF) has acquired a Bored Ape Yacht Club (CRYPTO: APE) to lead their NFT virtual music band “KINGSHIP”, the latest in UMG’s efforts to expand into the emerging territory of non-functioning Tokens (NFTs).

What happened?

Universal’s 10:22PM label said in a statement that they paid more than $360,000 USD or 125 Ethereum (ETH) for the Bored Ape #5537, making them the first-ever label at a major music company to join the Bored Ape Yacht. Club community. The newly purchased Bored Ape has been named “Manager Noët All” by UMG. They unveiled the Web3 label “10:22PM” and their “KINGSHIP” band in November 2021.

On UMG’s statement dated March 18, KINGSHIP founder Celine Joshua said:

“We’ve been incredibly busy developing KINGSHIP since our initial announcement and I’m so excited to introduce Manager Noët All, one of the many new characters that will join the KINGSHIP universe. As the manager of the group, Manager Noët All will help direct the storyline and allow us to interact with the community. We hope to make the KINGSHIP universe as entertaining and immersive as possible, while also building value for the holders. With the launch of KINGSHIP’s official Discord, the community will have a home where members can interact with each other and get the latest updates on KINGSHIP’s journey, including how to access the admission list. Stay tuned, there’s so much more to come.”

Introducing Manager Noët All, the monkey that KINGSHIP, 22:22 & UMG’s music group made of NFT characters from @BoredApeYC† https://t.co/mS4XTj6A2o

— Universal Music Group (@UMG) March 18, 2022

What is Bored Ape Yacht Club?

Bored Ape Yacht Club (BAYC) is the world’s most popular NFT collection, they are a collection of 10,000, unique cartoon NFTs (Non-Fungible-Tokens) on the Ethereum (ETH) blockchain. As of March 19, 2022, Bored Ape Yacht Club has a rock bottom price of over 100 Ethereum (ETH), which is worth approximately $300,000.

Who are the celebrities who own bored monkeys?

Multiple rappers, singers, influencers and celebrities own Bored Apes. In January 2022, Neymar Jr bought a Bored Ape for $1 million USD, source. You can also find a list of all the popular celebrities who own Bored Apes on Benzinga here.

This post Universal Music Group Buys Bored Ape For $360K To Lead Their NFT Band “KINGSHIP” was original published at “https://www.benzinga.com/markets/cryptocurrency/22/03/26211574/universal-music-group-buys-bored-ape-for-360k-to-lead-their-nft-band-kingship”

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