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Universal Music Group has announced the creation of the first NFT music band under the name of Kingship. The ensemble was started by Celine Joshua, the CEO of a Web3 label 10:22 PM.
The ‘leader’ of the music group is reported to be a Bored Ape Yacht Club NFT #5537. The NFT cost Universal Music Group 125 ETH, approximately $360,000 at the moment of purchase on March 18th.
UMG has filed four trademarks related to Bored Ape Yacht Club, including non-fungible tokens, crypto tokens, utility tokens and application tokens. The trademark list also includes online retail stores with digital and physical merchandise. Kingship website is currently under construction. Nonetheless, the main page features three Bored Apes and a Mutant Ape, indicating the visitor to imagine that the music group will be composed of the four Yuga Labs NFTs.
Universal Music Group has been interested in Web3 for some time now. In December 2021 the Company has signed a contract with Genies, an avatar company, as part of the expansion of the Group into Metaverse. Previously Genies has already partnered with Justin Bieber, Rihanna, J Balvin, The Migos and other pop stars.
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