It is a well-known fact that the interest in NFTs (non-fungible tokens) as well as cryptocurrencies has increased astronomically recently. Although millions of dollars are paid to such assets around the world, many debates arise, we come across a new NFT news every day.
We can say that one of the most famous collections that comes to mind when NFT is mentioned is the Bored Ape Yacht Club (BAYC) collection, which consists of 10,000 monkey photographs, each one different from the other. Many people, including Eminem, Justin Bieber, Post Malone and many more celebrities, have hundreds of thousands of monkey photos in this collection; even millions of dollars. Now, the world’s largest music company has joined the NFT buyers from this collection.
Universal Music received Bored Ape NFT for a virtual music group
According to the news, it is considered as the world’s largest in its field and like Drake, Taylor Swift Universal Music Group, a multinational music company that includes many famous artists, bought a Bored Ape NFT for 360,000 dollars. According to the explanations, this NFT will be used in a virtual music group to be created.
If we explain this a little bit; maybe some of you have heard of the world famous band Gorillaz. Formed by Damon Alban, the lead singer of British rock band Blur, and Jamie Hewlett, creator of Tank Girl comics, the biggest feature of this band is that it is a completely virtual group of members. Here’s Universal Music Group’s Bored Ape move is to create a virtual band of unreal characters just like Gorillaz.
According to the descriptions, the purchased NFT character was named “Manager Noet All”. It is stated that this character will accompany three other different Bored Ape NFTs borrowed from the famous crypto collector Jim McNeils and will be the leader of a virtual group called ‘Kingship’. In addition, it was among the news that this group will make music and give virtual concerts in the metaverse.
Speaking to Reuters on the subject, McNeils also expressed his excitement about Bored Ape NFTs and the virtual group planned to be created. Universal Music, who first announced the band in November, also emphasized in their statements that Kingship will initiate important moves in new music, NFTs and metaverse and will create a new generation artist profile.
Doubts against NFTs
Although interest in NFTs has grown significantly, many people have doubts about these digital assets. Experts think that such assets can be used for malicious purposes such as money laundering. Vitalik Buterin, the founder of the second-largest cryptocurrency, Ethereum, has similar ideas.
Buterin, who we shared with you on the cover of TIME magazine, stated that it was not right to pay millions of dollars to such NFTs by citing monkey photos as an example; He said it was a gamble. Buterin also emphasized that cryptocurrencies should be used for more useful purposes than monkey photos.
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