New Universal Music Band, Kingship, is made up of NFTs

Universal Music Group, responsible for various artists such as The Rolling Stones, Drake and Aerosmith of the like, recently formed a new band. Under the name ‘Kingship,’ it is a band consisting of NFT characters from the Bored Ape Yacht Club.

Founder, Celine Joshua, made an exclusive agreement to create a metaverse group. They aimed to develop and release new music, NFTs, community-based products, and various experiences in the metaverse. Besides hosting concerts in the metaverse, the group represents a “new area of NFT ownership,” said Jimmy McNeils, the owner of the four NFTs that comprise the group. “Creating KINGSHIP has been incredibly fun and imaginative. I started 10:22PM to push the boundaries of innovation in the music industry and with KINGSHIP, we’re literally inventing what’s possible in real time. Just as we would with any artist or creator, my team and I will work with KINGSHIP to sharpen their vision and develop their unique sound. Each member of the group has their own story and personality that influences and contributes to KINGSHIP’s overall narrative. Through music and events across the metaverse, we will bring the Apes in KINGSHIP to life by building communities and utility, and entertaining audiences around the world.”

NFTs have already been a somewhat controversial means of collecting income for some owners. The Bored Ape Yacht Club, in particular, minted over 10,000 NFTs in April 2021. Following its success, the Mutant Ape Yacht Club, a mutated variation of the original apes, has also coined an over 20,000 collection in August 2021.

McNeils further added, “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!”