Universal’s KINGSHIP virtual band just sold their entire collection of 5,000 NFT ‘Key Cards’


MBW’s Stat Of The Week is a series in which we highlight a single data point that deserves the attention of the global music industry. Stat Of the Week is backed by Cinq Music Group, a technology-driven record label, distribution and rights management company.

In November, Universal Music Group’s Web3 label, 10:22PM, launched a virtual band called KINGSHIP, whose members include four Bored Ape Yacht Club NFTs.

Since then, UMG has grown the KINGSHIP brand, with the purchase of a Bored Ape NFT for $350,000 to serve as the group’s “manager” and a slew of brand apps hinting at crypto and merchandising plans. .

Universal’s 10:22 p.m. also reported plans for a virtual world based around KINGSHIP as well as an NFT collection of so-called access-enabled NFT keys to allow access to the virtual world.

KINGSHIP’s label revealed this week that the entire collection of these virtual band NFTs, 5,000 of them, sold out on Friday, July 15.

NFTs became available at mint starting Thursday, July 14, and as of 10:22 p.m., NFTs #1 through #300 are reported to have sold out “within minutes.”

The main sale price set for the 5,000 NFTs was 0.19 ETH, which at current exchange rates is around $286. With the 5,000 NFTs sold, at least $1.43 million was generated from the primary sale.

A single NFT from the KINGSHIP collection (#999) is currently for sale on OpenSea for 999 ETH (about $1.5 million).

10:22 p.m. reports that the 5,000 NFTs sold last week will allow buyers to access the group’s virtual world as well as unlock products, experiences, and a token-gated community.

The label also reports that the collection ranked #1 on NFT Exchange OpenSea’s Music Chart and ranked #1 in the NFT Trending Collection Market across all categories on release day.

According to 10:22 p.m., the team behind KINGSHIP includes Grammy-winning artists, songwriters, and producers, famed host Jack Lanza, and prominent NFT collector Jimmy McNelis, aka J1mmy.eth.

“I am grateful to our team, our partners and the community for this incredible sell-out achievement. »

Celine Joshua, 10:22 p.m.

“I am grateful to our team, our partners and the community for this incredible sell-out success,” said Celine Joshua, Founder of 22:22 and Creator of KINGSHIP.

“We are building a world of artists with blockchain technology, creativity and speed. The sold out Key Card Genesis is just the start of our new journey together.

Five Music Group’s repertoire has won Grammy Awards, dozens of RIAA Gold and Platinum certifications, and numerous No. 1 positions on a variety of Billboard charts. His repertoire includes heavy hitters like Bad Bunny, Janet Jackson, Daddy Yankee, TI, Sean Kingston, Anuel and hundreds more.The music industry around the world


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