This week, the Dutch-American multinational music company Universal Music Group announced the establishment of a Non-Fungible Token (NFT) Meta Festival Music Group called Kingship, which includes four Bored Ape Yacht Club (BAYC) NFTs. After the announcement, popular record producer Timbaland revealed the creation of a metaverse-based entertainment company called Ape-In Productions (AIP), which will also use BAYC NFT.

Universal Music Group announces BAYC NFT super group named Kingship

Although non-fungible tokens (NFT) collectibles are all the rage this year, there is a Boring Ape Yacht Club (BAYC) It has attracted a lot of attention in terms of sales and popularity.

Data Display According to statistics from dappradar.com, BAYC’s overall market valuation is US$1.82 billion, and the historical sales of the series are US$658 million. BAYC’s trading volume is 9,296 traders and sales are 22,122. The average selling price of a single BAYC NFT on November 13 was approximately US$297,400.

The popularity of BAYC inspired Universal Music Group (UMG), one of the world’s largest music companies, to set up a Meta Festival Super Group called Kingship. report show”10:22 p.m.”Project founder Celine Joshua initiated the Kingship project with popular NFT collectors Jimmy McNeills.

The description of the 10:22PM portal says: “As the next-generation Web3 label of Universal Music Group, 10:22PM has been discovering, developing and empowering artists, digital creators and brands since 2018.” Four members of Kingship Every one of Celine Joshua told the media; “Have his own story and personality, which influences and contributes to the overall narrative of Kingship.”

Popular record producer Timbaland reveals Ape-In production

After the announcement of UMG and 10:22PM, Timothy Mosley, professionally called Timbaland, announced the launch of the BAYC entertainment brand called Ape-In Productions (AIP).Talk to the news publication Variety, Timbaland disclose Popular record producers stated that AIP aims to support creators.

“We have built a new entertainment platform in Metaverse, returning creative control and long-term ownership to artists. This concept is very important to us,” Timbaland told Variety contributor Jem Aswad.

According to Variety’s report, AIP will announce a music group called “Thezoo” and a song that will be bound to an NFT collection called “Apesh!t”. The report further added that AIP was developed by Timbaland and some members of the BAYC community. Jonathan Tenenbaum, Andrew Rosenna, Gary Marrera, Clement Kwan and Timbaland’s Beat Club Will also contribute.

What do you think of the entertainment companies using Bored Ape Yacht Club NFT? Please tell us your thoughts on this topic in the comments section below.

Image Source: Shutterstock, Pixabay, Wikimedia Commons, AIP, 10:22 PM,