Universal Music Organization announced this week the launch of Kingship, a non-fungible token (NFT) metaverse music group. Following the announcement, Timbaland, the hit song producer, announced the formation of Ape-In Productions (AIP), a metaverse-based entertainment company that will use BAYC NFTs as well
Universal Music Group Revealed ‘Kingship’
While non-fungible token (NFT) collections have been all the rage this year, one collection, in particular, the Bored Ape Yacht Club,
According to dappradar.com figures, BAYC has an overall market capitalization of $1.82 billion and the collection has a total sales volume of $658 million. The transaction volume of BAYC was spread across 9,296 merchants and 22,122 sales. On November 13th, the average sale price for a single BAYC NFT was roughly $29.74K.
The success of BAYC has prompted Universal Music Group (UMG), one of the world’s largest music companies, to form a metaverse supergroup named Kingship. According to reports, Celine Joshua, the founder of the “10:22 PM” project, initiated the Kingship effort with Jimmy McNeils, a well-known NFT collector.
(BAYC), has made quite an impression in terms of sales and popularity.
“As Universal Music Group’s next-gen Web3 label, 10:22 PM has been discovering, developing, and empowering artists, digital innovators, and brands since 2018.”
According to the 10:22 PM web portal’s description. Celine Joshua informed the press that each of Kingship’s four members “has their own tale and personality that impacts and contributes to Kingship’s overall storyline.”
Timbaland Reveals Ape-In Productions
Timothy Mosley, better known as Timbaland, has announced the formation of Ape-In Productions, a BAYC entertainment label, after UMG and 10:22 PM’s announcements (AIP). Timbaland stated that AIP strives to support creators in an interview with the news website Variety.
“We’ve established a new entertainment platform in the metaverse that gives artists creative control and long-term ownership back,” Timbaland told Variety writer Jem Aswad.
According to Variety, AIP will debut a music ensemble called “Thezoo” as well as a track tied to an NFT collectible called “Apesh!t.” AIP was created by Timbaland and a number of BAYC community members, according to the study. Timbaland’s Beatclub, Jonathan Tenenbaum, Andrew Rosener, Gary Marella, Clement Kwan, and Jonathan Tenenbaum will also contribute.
