Universal Music Group’s Web3 Label Buys Bored Ape for $360K in Ethereum

On Friday, Universal Music Group’s Web3 label dubbed 10:22PM revealed it purchased the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) #5537 for more than $360,000. 10:22PM says that BAYC #5537 will become the female manager for the first-ever metaverse group.

Universal Music Group (UMG) and the firm’s Web3 label 10:22PM explained on Friday that the metaverse group called KINGSHIP now has a new manager. 10:22PM acquired the Bored Ape Yacht Club (BAYC) NFT #5537 for more than $360,000 or 125 ETH at the time of settlement. In addition to being identified as Bored Ape #5537, the Web3 label noted that the female character will be KINGSHIP’s manager and will be called “Manager Noët All.”

UMG revealed the Web3 label 10:22PM and the KINGSHIP group in mid-November 2021. Interestingly, on the same day, the hit record producer professionally known as Timbaland announced the launch of a BAYC entertainment label called Ape-In Productions (AIP). The metaverse group KINGSHIP includes a Mutant Ape Yacht Club (MAYC) NFT and three Bored Ape NFTs.

The announcement discloses that in addition to purchasing the latest BAYC, KINGSHIP’s official website and Discord have been launched. The new site and Discord channel aim to “provide fans and the collector community with information about the group’s activities, new developments including access to the allowlist and future activations.”

UMG has been delving into NFT technology quite a bit this year, as the company revealed a partnership with the NFT marketplace Curio in mid-February. At the time, the entertainment giant said it had plans to showcase NFTs tied to the firm’s many music labels and hit recording artists. During the first week of March, UMG announced a partnership with Billboard and the Flow blockchain.

Friday’s announcement explains that KINGSHIP was created by 10:22PM’s founder Celine Joshua. “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,” 10:22PM’s founder explained in a statement sent to Bitcoin.com News on Friday.

10:22PM’s Celine Joshua added:

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.

10:22PM’s founder further explained that now that the Discord channel is open, the KINGSHIP community can tune in to get updates and interact with other community members. “Stay tuned, there’s so much to come,” 10:22PM’s founder further remarked.

On the NFT marketplace Opensea, 10:22PM’s founder goes by the name “Celinethethird,” according to the Opensea profile attached to the ethereum address “0x8Ad.” The address also leverages the ENS domain “1022pm.eth,” and it holds a significant number of NFTs. At the time of writing, 1022pm.eth owns 105 NFTs from 45 different collections. While 1022pm.eth is a fan of BAYC and MAYC NFTs, the address also holds Doodle #5707, Bored Ape Kennel Club NFTs, World of Women (WoW) NFTs and Invisible Friends #276.

The entire BAYC and MAYC ecosystem has seen a lot of demand during the last two weeks after the NFT’s creators announced the acquisition of the Cryptopunks and Meebits intellectual property (IP). Yuga Labs decided to give the commercial rights to the NFTs to the NFT holders. In addition, the community recently saw the Apecoin launch this week and the creation of the Apecoin DAO.

What do you think about the UMG and 10:22PM announcement about the purchase of Bored Ape #5537? Let us know what you think about this subject in the comments section below.