Universal‘s “Web3” label 10:22PM has purchased a Bored Ape NFT (Bored Ape #5537).
In a press release announcing the purchase, UMG says that the female digital character, “named Manager Noët All”, will serve as the manager for 10:22PM’s virtual NFT band, KINGSHIP.
The band’s characters are also from Bored Ape Yacht Club, and was launched by UMG in November.
10.22pm is a UMG subsidiary that was set up by former Sony exec Celine Joshua with the initial intention of signing artists, social media influencers and digital media creators with a focus on creating multimedia content.
UMG says that the label now discovers and develops artists, brands, digital creators and intellectual property.
UMG says that 10:22PM’s purchase of the NFT makes it the first label at a major music company to own “one of the popular NFT characters and become a member of the Bored Ape Yacht Club Community”.
At the time of the transaction, 125 ETH was worth $360,000.
Bored Ape NFTs can command hefty price tags. One was sold for over $2.8 million in January.
The Bored Ape Yacht Club is a collection of 10,000 Bored Ape NFTs, described as “unique digital collectibles living on the Ethereum blockchain”.
A Bored Ape NFT doubles as a Yacht Club membership card, granting access to members-only benefits.
With KINGSHIP, 10:22PM says that it will guide the group in developing and releasing new music, NFTs, community-based products, activations and experiences in the metaverse.
This, in turn, claims 10:22PM, will “kick off a new generation of artist, fan and community engagement”.
“We hope to make the KINGSHIP universe as entertaining and immersive as possible, while simultaneously building value for holders.”
Celine Joshua, 10:22PM
Celine Joshua said: “We have been incredibly busy developing KINGSHIP since our initial announcement and I’m so excited to introduce Manager Noët All, one of many new characters that will be joining the KINGSHIP universe.
“As the manager of the group, Manager Noët All will help drive the storyline and allow us to communicate with the community.
“We hope to make the KINGSHIP universe as entertaining and immersive as possible, while simultaneously building value for holders.
“With the launch of KINGSHIP’s official Discord, the community will have a home where members can interact with one another and get all the latest updates on KINGSHIP’s journey, including how to access the allowlist. Stay tuned, there’s so much to come.”Music Business Worldwide