As part of their license agreement with Universal Music Group, Mars has begun distributing limited-edition M&Ms depicting Bored Ape Yacht Club NFTs. The cast of “Hash” examines the newest developments in the intersection between NFTs and the real world.
Mars and Universal Music Group’s 10:22PM label inked a contract for the use of the Ape NFT photos, which were licensed from a prominent collector.
In accordance with its liberal commercialization rights, Bored Ape Yacht Club owners have licensed their Ethereum NFT graphics for usage in a wide variety of products, from clothing and toys to home decor and alcoholic beverage containers. However, thanks to special edition M&Ms, you may now have your fill of Bored Apes.
Mars, Inc., the maker of M&Ms, and Universal Music Group (UMG) label 10:22PM, creator of the virtual band Kingship (consisting of avatars from the Bored Ape Yacht Club and the Mutant Ape Yacht Club), announced today that they had reached a contract to produce limited edition M&Ms based on Kingship.
The four musicians, Captain, KING, Arnell, and Hud, are all represented by NFTs outside of the Mars agreement; three are from the Bored Ape Yacht Club (BAYC), and one is a Mutant Ape. 10:22PM, a division of Universal Music, is responsible for the production of KINGSHIP.
And KINGSHIP isn’t the only Bored Ape band; as the metaverse grows, virtual bands like this will proliferate. Grammy-winning musician Timbaland introduced his Ape-In Productions record label for Bored and Mutant Apes the same week KINGSHIP was released last November. TheZoo was the company’s first signing. The song “ApeSh!t” was the first single.
The fact that 10.22PM does not have exclusive legal possession of the NFTs is one of the most outrageous things about the KINGSHIP crew. Owner Jimmy McNelis has given them permission to operate (J1mmy.eth).
According to Jane Hwang, vice president of Mars Wrigley Global, “consumers’ expectations for what they want from their favorite brands [have] altered,” and because of this, “we recognize we need to be more imaginative than ever” with such a culturally prominent brand as M&M’s.
In November of 2016, it was announced that investor and entrepreneur Jimmy “j1mmy” McNelis had formed a “metaverse band” out of his own NFTs, which he called Kingship. Following in the footsteps of the successful virtual band Gorillaz, the label 10:22PM has developed characters based on the Bored Ape paintings and is writing unique music for the band, who will play concerts in metaverse worlds.
The group has also issued its own NFT “key cards,” which provide their owners special privileges and access. The M&M’s candies were made available to NFT holders before the general public.
Mars has issued a small batch of branded M&M’s chocolate candies with Bored Apes and Kingship symbolism, with just 10,000 units available.
Non Fungible Tokens (NFTs) are blockchain tokens that may be used to prove ownership of digital assets such as profiles, artwork, and collectibles.
In this area, the Bored Ape Yacht Club is without a doubt the most well-known creation. Fast food joints, marijuana and alcohol packaging, apparel, souvenirs, and more have all featured Bored Ape artwork.
According to statistics provided by CryptoSlam, Yuga Labs’ NFT collection has produced approximately $2.4 billion in secondary trading activity so far. Over $5.6 billion has been made in secondary trading from Bored Ape-related NFTs and associated initiatives.
Photo: Amit Lahav on Unsplash
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