Universal Music signs deal with 4 Bored Ape NFTs to form music group KINGSHIP in metaverse

  • Universal Music reportedly signed a music deal with Jimmy McNelis, the owner of 4 Bored Ape NFTs, to form a music band Kingship, which will perform in the metaverse. [CNet]
  • Universal’s label 10:22PM, headed by Celine Joshua, will work with Kingship, a “metaverse group.”
  • “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,” Celine Joshua, founder of the label 10:22PM, said in a press release. “Each member of the group has their own story and personality that influences and contributes to Kingships’s overall narrative.”
  • The Bored Ape Yacht Club NFTs stand out for including a license to the buyer of the NFT to monetize the NFT or make commercial uses of the associated images of the Bored Apes. We haven’t seen the Bored Ape license or terms and conditions, but the website displays a short description: “ownership and commercial usage rights given to the consumer over their NFT.”
  • A commercial license for NFT buyers is unusual. Standard licenses typically prohibit commercials uses. Even the license for the legendary CryptoPunks by Larva Labs reportedly has a prohibition against commercial uses of the CryptoPunks.