The new musical band called “Kingship“It is made up of four apes from the NFT series”Bored Ape Yacht Club“.
One of the largest record labels in the world is taking advantage of tokens non-expendable (NFT) to reinvent the music business.
Universal Music Group, subsidiary of the French group Livendi and one of the most important record companies in the world together with Sony Music and Warner Music, has created a new musical band made up of four tokenized virtual apes.
As reported Bloomberg, the record giant has decided to explore the space of virtual objects combining two concepts that have become fashionable: the NFTs and the metaverse. His initiative consists of an innovative proposal: launch a new musical group called “Kingship”Composed entirely of tokenized digital figures.
Facebook’s recent rebrand is the most prominent example of a growing trend in which companies seek to take advantage of new technologies to build interconnected virtual worlds. And NFTs have also been shown to be a crucial element in this trend. The fashion of collectibles in Blockchain It has even reached big name companies like Visa.
Kingship: the first NFT music band
According to the report, Universal Music, The home of some of the best-selling musicians, such as Drake and Taylor Swift, is working with digital art collector Jimmy McNelis to turn four of his NFTs into a band called Kingship.
McNelis, co-founder and CEO of NFT24, a company specializing in NFT, is a cryptocurrency enthusiast and great collector of digital art who he estimates is worth more than 100 million US dollars. He is the owner of hundreds of company boring ape NFTs Yuga Labs LLC, the creator of the series “Bored Ape Yacht Club“, One of the most successful NFT collections ever.
The musical band Kingship It is made up of four digital characters – three bored apes and a mutant monkey – that are part of the NFT collection “Bored Ape Yacht Club“, or the Bored Apes Yacht Club. The ape NFTs were purchased by McNelis and he is lending them to a group of artists hired by Universal turn them into three-dimensional beings.
Celine Joshua, from Universal, commented to Bloomberg His team will be tasked with creating stories for the apes and putting together a marketing campaign to introduce the characters to the public. “It’s like the way we introduce new artists to the worldHe commented.
You can call it an NFT band, or think of them as characters. The characters will come to life. The monkeys will come to life.
– KINGSHIP (@therealkingship) November 11, 2021
The metaverse and NFTs revolutionize the music industry
Joshua, an NFT fan who met McNeils while living in the digital art ecosystem, chose four characters that she thought could work as a band. That includes a golden monkey valued at about $ 200,000, according to supply data from OpenSea, the largest market for NFT.
According Bloomberg, the company will record music for Kingship to be promoted in services of streamingAlthough he did not indicate which musical genre the digital apes will play.
Too the band is expected to participate in video games, virtual reality applications and insert itself in a whole universe of digital experiences. In this regard, McNelis commented to the aforementioned medium that the band could be a way to introduce the mass to the metaverse and the NFTs.
We are still trying to figure out what exactly it is. I would like Kingship to be one of the main ways for the mainstream to get into NFTs in the metaverse.
The idea of launching a music band made up of virtual characters is not unprecedented, and there are successful cases, for example that of Gorillaz; although it will be the first time that a virtual musical group is represented entirely by NFT.
What will be new, and in a revolutionary aspect, for Kingship it will be your way of representing and monetizing your brand through tokenization. This technology will also provide the band with an alternative model for interacting with their fans. For example, giving buyers access to exclusive music experiences and events within the virtual world. However, in the end, the challenges of the project will be the same as those of any other musical group: to offer true quality art.
Article versioned by Hannah Estefanía Pérez / DailyBitcoin
Unsplash image (does not correspond to the initiative outlined in this note)