Universal Music Group Buys Bored Ape For $360K To Lead Their NFT Band "KINGSHIP"

Universal Music Group (UMG) UMGNF has acquired a Bored Ape Yacht Club APE/USD, to lead their NFT virtual musical band "KINGSHIP", UMG's latest in their efforts to expand into the emerging field of Non-Fungible-Tokens (NFTs).

What happened?

Universal's 10:22PM label said in a statement that they have paid over $360,000 USD or 125 Ethereum (ETH) for the Bored Ape #5537, which makes them the first-ever label at a major music company to become a member of the Bored Ape Yacht Club community. The newly acquired Bored Ape has been named "Manager Noët All" by UMG. They've revealed the Web3 label "10:22PM" and their "KINGSHIP" band in November 2021.

On UMG's March 18 statement, KINGSHIP's founder, Celine Joshua said:

“We have been incredibly busy developing KINGSHIP since our initial announcement and I’m so excited to introduce Manager Noët All, one of many new characters that will be joining the KINGSHIP universe. As the manager of the group, Manager Noët All will help drive the storyline and allow us to communicate with the community. We hope to make the KINGSHIP universe as entertaining and immersive as possible, while simultaneously building value for holders. With the launch of KINGSHIP’s official Discord, the community will have a home where members can interact with one another and get all the latest updates on KINGSHIP’s journey, including how to access the allowlist. Stay tuned, there’s so much to come."

Introducing Manager Noët All, the ape leading KINGSHIP, 10:22PM & UMG's music group made of NFT characters from @BoredApeYC. https://t.co/mS4XTj6A2o

— Universal Music Group (@UMG) March 18, 2022

What Is Bored Ape Yacht Club?

Bored Ape Yacht Club (BAYC) is the world's most popular NFT collection, they are a collection of 10,000, unique cartoon NFTs (Non-Fungible-Tokens) on the Ethereum (ETH) blockchain. As of March 19, 2022, Bored Ape Yacht Club has a floor price of over 100 Ethereum (ETH) which is worth around $300,000 USD.

Who Are The Celebrities That Own Bored Apes?

Multiple rappers, singers, influencers & celebrities own Bored Apes. In January 2022, Neymar Jr bought a Bored Ape for a $1 Million USD, source. You can also find a list of all the popular celebrities that own Bored Apes on Benzinga here.

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