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Universal Music Group Joins the Bored Ape Club

Universal Music Group is the latest institution to join the NFT project Bored Ape Yacht Club. The group’s Web3 label has purchased a Bored Ape character for 125 ETH, which is approximately $361,000. 

UMG’s Unique WEB3 Label

Universal Music Group’s Web3 label, branded “10:22PM,” is dedicated to “discovering, developing and empowering artists, digital creators, and brands”.  General Manager of Commercial Content, Celine Joshua, launched the Web3 label in 2018. This was long before the NFT and Web3 media craze.

Celine says the label employs innovative technologies to keep its musical talents at the forefront of entertainment and business. Additionally, the label’s technological foray is expected to “push the boundaries of creativity in the music industry.”

In recent times, the brand has successfully positioned itself amidst most Web3 developments while also merging music, gaming, NFTs, blockchain, and the metaverse concept. 

10:22PM and NFTs

On Friday, 10:22PM announced the acquisition of BORED APE #5537. This effectively makes it the first major record label to possess one of the popular Bored Ape Yacht Club (BAYC) characters. As a result, the move makes the group a citizen of the Bored Ape Yacht Club community.

The Bored Ape #5537, purchased for 125 ETH, is a female character named “Manager Noёt All”. Noёt All is the manager for the imaginary KINGSHIP band. For the benefit of KINGSHIP fans, the band recently developed an official website and Discord server.

However, this is not the first time they have made such a bold move. The global brand announced the development of KINGSHIP, a group of four Bored Ape Yacht Club (BAYC) avatars, in November 2021. Joshua Celine who also has also led metaverse-related projects, is the founder of KINGSHIP.

KINGSHIP’s objective is to assist the group in crafting and producing new music, NFTs, Community-based products, plus metaverse interactions.

Last December, UMG teamed with Genies, a prominent avatar technology company, to provide artists with official Web3 virtual identities. This advancement would also allow them to better engage with their supporters in the metaverse. Also last month, UMG announced a collaboration with an NFT platform, Curio. 

Traction and Influence

The musical giant’s interest in the crypto industry remains a positive one. As one of the world’s top three largest labels, UMG is dedicated to some of the most well-known brands. Capitol Music Group and Republic Records are just one of the few major labels working with UMG. The musical giant also boasts of famous celebrities like Justin Bieber and Selena Gomez on its roster.

Following Celine’s launch of 10:22PM in 2018, several record labels have likewise signified interest in NFTs and metaverses.

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