Universal Music splashes $360,000 on Bored Ape NFT

Over the weekend, the Web3 label (10:22PM) of Universal Music Group joined the laundry-list of celebrities and corporate behemoths that own a Bored Ape. The world’s leading music company purchased Bored Ape #5537 for roughly 125 ETH, or $360,000.

According to a press release from the company, the ape has been nicked named “Manager Noët All,” and has been saddled with the responsibility of leading 10:22PM’s NFT band Kingship as its manager.

The virtual NFT band has four characters – three Bored Apes and one Mutant Ape. The initiative, which was launched in November, will now welcome another Bored Ape as its manager.

Celine Joshua, 10:22PM founder and former Sony exec, explained that she created the Universal Music Group subsidiary “to push the boundaries of innovation in the music industry.” She added:

Just as we would with any artist or creator, my team and I will work with Kingship to sharpen their vision and develop their unique sound.

As odd as it sounds, the ape-led virtual music group will produce music and perform concerts in the metaverse, the company said.

Speaking of odd, brewing giant Heineken unveiled what it claims to be “the world’s first virtual beer” last week. But don’t expect to get any satisfaction from the drink because it is made from "the freshest pixels: no malt, no hops, no yeast, no water, and also, no beer." The move was an obvious jab at the whole metaverse mania.

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