Bored Ape Yacht Club owners have leveraged their permissive commercialization rights to turn their Ethereum NFT imagery into diverse products from apparel to toys, alcohol packaging, and restaurants. They are now extending their reach to the candy industry with some limited-edition M&M’s.
On Wednesday, confectionary giant Mars announced that it has signed a deal with Universal Music Group (UMG) label 10:22PM to create limited edition M&M’s based on its virtual band Kingship, which consists of Bored Ape Yacht Club and Mutant Ape Yacht Club avatars.
Kingship made its debut last November as a “metaverse band” created from NFTs owned by investor and entrepreneur Jimmy “j1mmy” McNelis.
Global Vice President at the world's leading candy manufacturer, Jane Hwang, said in a statement:
Consumers' expectations for what they want from their favorite brands [have] shifted, and at Mars, we know we need to be more innovative than ever with such a culturally famous brand like M&M's.
Mars released limited quantities of the branded candies as part of the deal, featuring images of the Bored Apes and KINGSHIP on them. 10,000 packages from gift boxes and gift jars have been put up for sale by the firm.
Meanwhile, the firm has gone ahead to launch its own NFT key cards, which provide exclusive benefits and access to holders. NFT owners were also given early access to purchase the M&M’s candy.
Bored Ape Yacht Club remains one of the most popular NFTs in the business. Data from CryptoSlam revealed that Yuga Labs’ NFT portfolio has generated over $2.4 billion in secondary trading volume to date. However, this M&M deal isn’t a partnership with Yuga Labs or the actual Bored Ape Yacht Club brand. Instead, Bored Ape NFT holders can use their owned images to create products and projects and license that artwork to brands if they wish.