Timbaland has announced a new metaverse-based entertainment company dubbed Ape-In Productions (AIP) that will use Bored Ape Yacht Club characters to play music and sell NFT products.
Bored Ape Yacht Club – founded by Yuga Labs in April 2021 and comprised of unique cartoon monkey designs created on the blockchain – is one of the most successful NFT projects to date, having already raised over a billion dollars. dollars in transactions since its inception just seven months ago. . For buyers, the original cartoons function as both an investment and a status symbol, with many owners setting their social media avatars on the monkey they bought. Monkey owners are able to exploit the likenesses of NFTs for profit and can also “flip” the monkeys to reap even higher gains in the NFT markets whenever they are ready to sell. Much like a rare baseball card, Bored Monkeys are considered collectibles, often functioning as the Crown Jewels in a buyer’s crypto collection.
AIP’s Bored Apes will work the same as digital idols like Miquela, who acts as a leading digital performer for songs. Those who choose to purchase these AIP NFTs will have access to exclusive perks, including merchandise, events, studio sessions, custom artwork, and concerts, all contained within the Metaverse. To bring these static NFT characters to life, AIP enlisted the help of BRON Digital, which uses Unreal Engine technology from Epic Games.
This is actually the second musical news related to the Bored Ape Yacht Club to arrive in the past two days. On Thursday, the UMG label at 10:22 p.m. announced that it had formed the NFT KINGSHIP âsupergroupâ, which also includes characters from the Bored Ape Yacht Club. Both projects come as interest in Web3 and the Metaverse continues to grow at a steady pace, with the most publicized acceleration in the form of Facebook’s recent rebranding to Meta by Mark Zuckerberg, a reference to the Metaverse. The formation of AIP, especially with a famous name like Timbaland, could give new impetus to the adoption and monetization of NFTs within the music industry.
Along with the announcement of the creation of AIP, the company publishes the name of its first signatory: TheZoo. A hip-hop group made up of six Bored Apes – Lincoln Aperaham, Safari Ferrari, Oro Blanco, MoMoney, Wurdz Smith and Congo – the new crew will release their first single “ApeSh! T” produced by Timbaland, as well as the first AIP label NFT, next Wednesday.
Other Ape-In Productions co-founders include Gary Marella, Clement Kwan, Andrew Rosener and Jonathan “JT” Tenenbaum from MediaOptions, the world’s leading domain broker. According to a press release, all of the founders bring years of digital asset management experience to the new project.
Comparing AIP to Beatclub, Timbaland’s music production marketplace – which allows creators to retain 100% of their rights and income – the press release adds that AIP “will allow creators to regain control of their intellectual property and will encourage to explore new creative avenues and new income. streams. “
“We’ve built a new entertainment platform in the Metaverse that puts creative control and long-term ownership back into the hands of artists, a concept that’s extremely important to us,” Timbaland said in a statement announcing the project. .