You’ve heard of Universal Music Group I’m sure, and if you haven’t chances are that you sing a song or 10 that was produced in the company’s studios. Universal has its fingers in just about every genre of music with big name artists like Drake and Taylor Swift on their payroll.
Now, the company just signed what it believes will be the next supergroup, KINGSHIP.
But this is like nothing else that’s ever been signed by Universal in the past. KINGSHIP is a group made up of three Bored Ape NFTs and a Mutant Ape NFT. Yes, you read that right. The group is represented by four cartoon apes that live on the blockchain as non-fungible tokens.
As mentioned above, KINGSHIP isn’t like any other musical group in the world. Instead of being represented by the people making the music, KINGSHIP is represented by three Bored Apes and a Mutant Ape, all of which are part of the Bored Ape Yacht Club, or simply BAYC.
The project was created by Celine Joshua and Jimmy McNeils, the former being the founder of 10:22PM and the latter being a leading NFT collector. The two provided the Apes that were used to develop the next-generation metaverse label.
Interestingly, each Ape was given its own story and personality, a move that Celine Joshua says, “influences and contributes to KINGSHIP’s overall narrative.” Joshua went on to explain that the team worked hard to “sharpen their vision and develop unique sound.”
The NFTs used for the group are massive collectibles as well. They include Golden Fur and Bluebeam Apes, both of which demand a premium. What does that mean in dollars and cents? Well, before being included in the first ever NFT group signed by Universal Music, these NFTs were already worth hundreds of thousands of dollars, if not more.
Now, with the addition of the NFT supergroup to Universal Music’s lineup, these digital tokens are worth astronomical amounts of money.
Apes Are Everywhere
The Bored Apes Yacht Club is easily one of the most successful NFT projects in the history of all time. The project has been featured seemingly everywhere, and some sales have commanded serious change, including a bundle of Bored Ape NFTs that recently sold for more than $24 million!
Not to mention, these cartoon Apes were featured on Rolling Stone’s first-ever digital cover, they’ve been the center of attention on Time Square billboards, and they’ve been painted on the side of busses as they take New York City over.
These apes aren’t simply collectibles, they’re becoming a movement. That’s why big stars are diving into the Bored Ape Yacht Club community.
The Next Wave for the Music Industry
The music industry has evolved quite a bit over the years, from crackling recordings that were barely legible to crystal clear music that flies into handheld devices thanks to next-level technologies. Well, NFTs seem to be the next wave of evolution for the industry.
NFTs give artists a new way to communicate with their fans while giving fans a new way to collect goods and show support for their favorite artists.
At the same time, there’s a bustling community surrounding these digital collectibles, offering entertainment companies access to a massive audience. Moreover, through NFTs, royalties can be collected on future sales and piracy could soon become a thing of the past.
The Bottom Line
The bottom line here is simple. If you thought NFTs were just a passing fad, you thought wrong. These digital collectibles are quickly becoming ingrained in our culture through art, music, and other avenues of entertainment. Now, with Universal Music signing the first ever NFT supergroup, the sky’s the limit.