In a deal worth $200 million, Universal Music Group has signed on to be the first major label to work with blockchain-powered music company Ujo. With this partnership in place, artists will now have more control over their intellectual property and how revenue is generated from it.
Universal Music, the entertainment behemoth, has unveiled its next entirely manufactured popular music artist, in what can only be described as a bizarre turn of events. Three Bored Apes and one Mutant Ape make up this foursome.
Before the label thrusts them into the limelight to confront a harsh audience, a team of artists will reassemble the newly formed group as animated 3D characters, dubbed “Kingship.” The aspiring musicians are the first project signed to Universal’s newly founded 10:22pm record label, according to insiders. A “new generation Web3 label,” according to its promoters. According to insiders, the initiative would “actually create what’s possible in real-time,” and each participant will have their own distinct personality.
Jimmy McNelis, an NFT collector, envisioned a new sort of virtual star when he created Kingship. He is the project’s digital asset provider, with one of the assets representing a $300,000 golden ape. This new musical “talent” will perform all around the virtual world. As a result, they’ve appeared in metaverse events, video games, virtual reality performances, and more.
The most pressing concern is whether or not this new foursome will be able to play authentic music. Will they be the first NFT monkeys to sell out to the music industry’s bigwigs? Only time will tell whether this is true. For the time being, they’re being pursued by a gang of animated Gorillaz.