Fresh off the Discord backlash, NFTs are back in the news!
But for good reason this time:
In two announcements, Jimmy Fallon announced he has joined the club, and a band was created out of JPEGs?
We will get into the second one.
But first, Jimmy Fallon tweets he has boarded the yacht club to his 51M followers:
— jimmy fallon (@jimmyfallon) November 12, 2021
How did Twitter respond?
Of course, you had the ‘right-click to save’ warriors who don’t understand the basics of ownership:
I have stolen your precious nft pic.twitter.com/FHpGDndSKr
— Alexander (@elljawa) November 12, 2021
And those that vehemently hate NFTs, for whatever reason they have:
So nobody on the PR team told you posting this NFT pic was gonna be a bad idea??
— Shane Herron (@KrazedRooster) November 12, 2021
But of course, plenty saw the good that comes with this news. Only validating what the community has been preaching for the past year, the more mainstream stars that adopt the culture, the more of their disciples it will bring. It validates what everyone has been spending their ETH and SOL on and it finally adds credibility to the space. Millionaires and Billionaires are willing to put their wealth behind this product that is NFTs, so ask yourself, why shouldn’t you?
UMG Announces KINGSHIP, an NFT Band
In other BAYC news, Universal Music Group announces Kingship. This is the first music group consisting of NFT characters.
NEWSFLASH: UMG’s next-gen label 10:22PM forms 𝐊𝐈𝐍𝐆𝐒𝐇𝐈𝐏, the First-Ever Group Consisting of NFT Characters from Bored Ape Yacht Club.🐒 pic.twitter.com/zMSAq4HI2Z
— Universal Music Group (@UMG) November 11, 2021
In one of the first major IP (intellectual property) uses of a collection by a major brand, Kingship consists of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs owned by UMG. They don’t even need to get the approval of BAYC to do this endeavor, as they own the IP to these Apes with the purchase of the NFTs. The band will play shows in the Metaverse, as well as potentially in the real world!
What Does This Mean for BAYC?
This further adds credibility to the collection, with the largest Music label in the world putting their resources behind the IP.
UMG, the label behind artists such as:
- Taylor Swift
- Billie Eilish
- Lady Gaga
Universal Music Group is not run by people without their fingers on the pulse of the market. Holding exclusive rights to the largest acts in the world, UMG sees Bored Ape Yacht Club as the next big money maker. They often hit, and when they do, they hit big.
As more production companies snatch up popular NFT IP to get in on the action early, look for these floor prices to skyrocket. UMG is not going to be the first company to deploy a BAYC or other NFT product. As more companies look to get their hands on this IP, and only 10k available, the supply is in for a shock.
If you’re lucky, maybe you are holding a rare ape that companies want in their shows/products!
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