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Web3 Label of Universal Music Group Acquires Bored Ape for $360K in Ethereum

On Friday, Universal Music Group’s Web3 label, nicknamed 10:22PM, stated that it had paid more than $360,000 for the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) #5537. According to 10:22PM, BAYC #5537 will become the first female manager of a metaverse organization.

For 125 Ether, UMG’s 10:22PM Acquires Bored Ape #5537

Universal Music Group (UMG) and the company’s Web3 label 10:22PM announced on Friday the appointment of a new manager for the metaverse group KINGSHIP. 10:22PM paid more than $360,000 or 125 ETH at the moment of settlement for the Bored Ape Yacht Club (BAYC) NFT #5537. Along with being referred to as Bored Ape #5537, the Web3 label stated that the female character will serve as KINGSHIP’s manager and will be dubbed “Manager Not All.”

In mid-November 2021, UMG announced the launch of the Web3 label 10:22PM and the KINGSHIP group. On the same day, the popular musical producer professionally known as Timbaland announced the formation of Ape-In Productions, a BAYC entertainment label (AIP). KINGSHIP is a metaverse group comprised of an NFT for the Mutant Ape Yacht Club (MAYC) and three NFTs for the Bored Ape.

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Additionally to acquiring the latest BAYC, the announcement states that KINGSHIP’s official website and Discord server have been opened. The new website and Discord channel are intended to “educate fans and the collector community about the group’s activities, new advancements, including access to the allow list and upcoming activations.”

UMG has been investing heavily in NFT technology this year, announcing a partnership with the NFT marketplace Curio in mid-February. At the time, the entertainment behemoth stated that it intended to promote NFTs associated with the company’s numerous music labels and chart-topping recording artists. UMG announced a partnership with Billboard and the Flow blockchain in the first week of March.

The Founder of 10:22PM Declares That Manager Not All Will Contribute to the Storyline

According to Friday’s announcement, Celine Joshua, founder of 10:22PM, founded KINGSHIP. “Since our first announcement, we’ve been tremendously busy building KINGSHIP, and I’m thrilled to present Manager Not All, one of many new characters joining the KINGSHIP universe,” 10:22PM’s founder explained in a statement emailed to News on Friday.

Celine Joshua of 10:22PM 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.

The founder of 10:22PM continued by stating that now that the Discord channel is live, the KINGSHIP community may listen in to receive updates and connect with one another. “Stay tuned, there’s a lot more coming,” 10:22PM’s founder added.

According to the Opensea profile associated with the ethereum address “0x8Ad,” the founder of 10:22PM goes by the name “Celinethethird.” Additionally, the address uses the ENS domain “1022pm.eth,” which has a sizable amount of NFTs. 1022pm.eth currently holds 105 NFTs from 45 different collections. While 1022pm.eth is a supporter of BAYC and MAYC NFTs, the address also contains Doodle #5707, Bored Ape Kennel Club (BaKC) NFTs, World of Women (WoW) NFTs, and Invisible Friends #276.

The whole BAYC and MAYC ecosystems have seen increased demand in the last two weeks with the announcement of the NFT’s designers acquiring the Cryptopunks and Meebits intellectual property (IP). Yuga Labs has opted to provide the NFT holders the commercial rights to the NFTs. Additionally, the community witnessed the introduction of Apecoin this week, as well as the establishment of the Apecoin DAO.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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