Taylor Swift’s Label Buys Bored Ape NFT

Alex Dovbnya

The newly acquired NFT will lead the group of virtual monkeys initially launched in November

Universal Music Group, the record label behind megastars like Taylor Swift and Drake, has acquired Bored Ape #5537, one of the non-fungible tokens from the hugely popular Bored Ape Yacht Club NFT collection, Reuters reports:

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

The concept is not new: the Gorillaz, the first virtual band in history, was formed in 1998. However, the group of digital monkeys will perform in different realms of the metaverse, so it will be possible to communicate directly with fans.

The newly acquired female character, known as Manager Noet All, becomes the leader of the band.

Earlier this month, Universal Music Group signed a partnership with music and entertainment magazine Billboard to create a collection of NFTs commemorating some key chart-topping records.

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

The wild day of ApeCoin

The Bored Ape Yacht Club collection recently came into the limelight following the launch of ApeCoin, the Ethereum-based governance token that is supposed to support the entire ecosystem.

After rising to $39.40 during the first few minutes of trading, the token lost momentum and crashed. After wiping out some losses, APE is currently switching hands for $14.44 on major spot exchanges.

As reported by U.Today, the collection’s rock bottom price witnessed a short-lived spike following the token’s turbulent debut.

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