Universal Music Group's web3 label acquires Bored Ape NFT for $360,000

The ape-led music group, according to Universal Music will ultimately produce music and perform virtual concerts. 

Universal Music Group's web3 label acquires Bored Ape NFT for $360,000

A Bored Ape collector said that "NFTs are going to have many use cases that go beyond art," 

Universal Music Group has collected on to the laundry list of brands and large companies capitalizing on blue-chip NFT collection Bored Ape Yacht Club. 

The company's Web3 label has acquired Bored Ape #5537 for $360,817 approx 125 ether, according to Friday declaration 

The Bored Ape character names "Manager Noet Ali" will lead 10:22PMs virtual NFT called Kingship at its manager. 

Kingship consists of four digital characters one mutant ape and three bored ape NFTs all from collector Jimmy MCNelis personal holdings and band, which was a declaration in November is now joined by its new manager. 

Celine Joshua, 10:22 founder, and former Sony exec, said the started the Universal Music Group subsidiary "to push the boundaries of innovation in the music industry."

"just as we would with any artist of the creator, my team and I will work with Kingship to sharpen their vision and develop their unique sound," Joshua declared.

“Each member of the group has their own story and personality that influences and contributes to Kingship’s overall narrative.”

The ape-led music group will eventually produce music and perform virtual concerts in the Metaverse as per to the company 

McNelis said that "NFTs are going to have many use cases that go beyond art,"

McNelis and all Bored Ape collectors became eligible to claim 10,000 ApeCoin (APE), in connection with the ApeDao, APE is trading up 4.92% on the hour at $14.4 per token. 

Read: Mexican soccer club selling a Bored Ape NFT to help people in Ukraine