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Alex Dovbnya

The newly acquired NFT will lead the band of virtual apes that was initially launched in November

Universal Music Group, the record label behind such megastars as Taylor Swift and Drake, has purchased Bored Ape #5537, one of the non-fungible tokens from the immensely popular Bored Ape Yacht Club NFT collection, Reuters reports.    

In November, the company teamed up with Bored Ape Yacht Club in order to launch a virtual NFT band named “Kingship.”

The concept is not new: the Gorillaz, the first virtual band in history, was formed by formed in 1998. The group of digital apes, however, will be performing in different realms of the metaverse, thus it will be possible to directly interact with fans.  

The newly purchased female character, who’s known as Manager Noet All, will be the leader of the band.    

Earlier this month, Universal Music Group signed a partnership with music and entertainment magazine Billboard in order to create a collection of NFTs that commemorates some significant chart records.

Last month, the multinational music corporation joined forces with NFT platform Curio in order to create digital collectibles for artists.

ApeCoin’s wild day  

The Bored Ape Yacht Club collection recently appeared in the spotlight following the launch of ApeCoin, the Ethereum-based governance token that is supposed to underpin the entire ecosystem.

After soaring to as high as $39.40 during the first minutes of trading, the token lost its momentum and crashed. After paring some losses, APE is currently changing hands at $14.44 on major spot exchanges.          

As reported by U.Today, the floor price of the collection witnessed a short-lived spike after the topsy-turvy debut of the token.     

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