Expansion and integration of music, NFTs, metaverse is now a reality as various interests come together to further develop Web3 projects.
- Bored Ape Yacht Club (BAYC) is the most popular NFT club around the globe.
- Universal Music Group (UMG) signed 4 Bored Ape characters to create Kingship band.
- Now the Grammy Award winning singers are helping them to make music.
BAYC Music Band Will Come Alive
Even if someone is a new entrant in the NFT space, chances are, they may have come across the name Bored Ape Yacht Club. It is one of the most popular NFT collections to this date. Sure, there are other prominent collections in the sector, but they are nowhere close to the Apes when it comes to global recognition. The digital collectible is in headlines again as BAYC music band is finally getting a voice.
James Fauntleroy and Hit-Boy, the Grammy Award winning singers and producers, will help in creating music for Kingship, a UMG-owned music band featuring Bored Apes. It was just a name with 4 images of some funky monkeys during the time Universal Music Group created it, but some skilled animators gave them a 3-D look to bring the characters to life.
Teams associated with the band are already working on the storylines, metaverse concerts, and albums. The monkey band consists of 4 BAYC characters, and the value of these NFTs is expected to rise as soon as the music group starts making appearances in the ever expanding metaverse.
Non-fungible tokens started leaving imprints across the globe during 2021, when the volume surged by 210X. It gave a glimpse to the investors regarding its potential to generate revenue streams. Since then, several digital collections and marketplaces have washed up to the shore to fascinate the users.
Critics think that NFT is just a piece of image, that’s all. But lesser do they know, these tokens are coming up with latest use cases to serve the users. Nas, the Grammy winning rapper, released music NFT for his single which offered royalties and tangible perks to the holders.
In-game NFTs remain the most common and easy to understand use case for these tokens. Every in-game item can be treated as an NFT. For example, avatars, land plots, skins, and more in the crypto game Sandbox are considered as non-fungible tokens, which the users can sell to generate real world income. Gaming company, Ubisoft, released NFTs for Ghost Recon Wildlands on Tezos blockchain dubbed Ubisoft Quartz.
Non-fungible tokens can aid in the supply chain by enabling end-to-end data tracking through blockchain. This will also contribute in keeping the original data of the product intact. For example, the buyer can validate this information stored on blockchain to make sure that he/she has received an authentic product.
Celebrities around the world love digital art like BAYC, CryptoPunks, World of Women and more. From Paris Hilton to Eminem, everyone wants a piece of it. The space is still in its infancy, but with the rapid development in the sector, more use cases may arise. This might lead their values to go high and attract more users into the space.
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AudiusX is dedicated providing you the latest news about Audius (AUDIO), and other decentralized Web3 projects in the crypto industry. Our goal at AudiusX is to provide you with the best unbiased, and most exclusive information, about the crypto industry, decentralized music streaming, music NFTs and music in the metaverse.