The Universal Music Group is leveraging the popularity of non-fungible tokens by acquiring one of the cartoon apes that have gained massive popularity among digital collectors to create an entirely virtual music group.
On Friday, Universal’s 10:22PM label paid $360,817 to purchase Bored Ape #5537 – which is now known as Manager Noët All – who will lead the group it founded in November called Kingship.
Kingship, which exists exclusively in the digital world, will have its own website and presence on the messaging platform Discord, as well as produce new music and perform in the metaverse.
Kingship is made up of four NFTs – one mutant ape, three bored apes, all from collector Jimmy McNelis’ personal collection.
“Each member of the group has their own story and personality that influences and contributes to Kingship’s overall narrative,” explains 10:22PM founder and former Sony executive Celine Joshua.