In Brief:
- Universal Music Group announced the formation of a “metaverse group” yesterday.
- The metaverse group is made up of 4 BAYC NFT collections including Golden Fur and Bluebeam Apes.
- The BAYC NFTs used in Kingship are owned by famed collector Jimmy McNelis.
Major music firm Universal Music Group announced yesterday that it has formed a metaverse group called Kingship using four characters from the Bored Ape Yacht Club (BAYC) NFT collection.
The BAYC NFTs used in Kingship are owned by famed collector Jimmy “j1mmy.eth” McNelis, who recently sold another of his Bored Ape NFTs at a Sotheby’s auction for $3.4 million. The project will be led by Universal’s “next-gen label,” 10:22 PM.
As the online metaverse expands and evolves, the label will create music for the band to “perform” in metaverse. Universal also plans to create NFTs based on the band that can be used to gain special entry to events, with current BAYC NFT holders getting first dibs on them.
One Mutant Ape and three Bored Apes including Golden Fur Ape and Bluebeam Ape feature in Kingship, all of which are from McNelis’ personal collection.
A Universal representative approached band manager Nicholas Adler, who is also the manager and brand curator for rapper and NFT collector Snoop Dogg, about establishing a project more broadly around the BAYC.
He had already made contact with McNelis, an early collector of hundreds of NFTs from the project, and proposed collaborating with some of McNelis’ Apes. They’re working on figuring out tale components around the characters now that the deal has been signed, as well as plans for the music.
Adler said “the goal was to creatively come up with the right package of Apes.” He additionally added, “with a great team of collaborators, and with the biggest record label in the world behind you, I think you can create an amazing crew and amazing story.”
McNeils said, “This deal is a leading example of how powerful commercial rights are for collectible NFT projects and their collectors. I’m incredibly excited to explore this new area of NFT ownership with Celine Joshua and 10:22!”
McNelis has already produced value and interest for his own NFTs, according to Adler, noting the aforesaid record Sotheby’s sale. They will, however, collaborate with other artists to bring the Kingship project to life.
