Timbaland, the music producer, has started Ape-In Productions, a company that will develop music and animation for user-owned Bored Ape Yacht Club NFT avatars. Next week, the business will release its first NFT collectible, as well as the debut record from TheZoo, a virtual hip-hop group.
Timbaland has announced the formation of Ape-On Productions, a new entertainment firm and platform specializing in music and animation, for the NFTs of the Bored Ape Yacht Club. Universal Music Group’s announcement of ambitions to build a virtual metaverse band based on a cast of characters from the NFT was inspired by this idea. Timbaland will work with a number of NFT owners as well as members of the community to make this idea a reality.
Timbaland’s first project is TheZoo, a hip-hop trio whose first single, “ApeSh! T,” will be released on November 17th. In a statement, he stated, “We’ve invented a new entertainment platform in the metaverse that puts creative control and long-term ownership back in the hands of artists.”
An NFT is a document of ownership for a valued digital asset that is based on the blockchain. It might be a profile photo, a digital graphic, a sound file, or something else entirely. According to Ape-predictions, in’s the NFT market would increase at a rate of $10.67 billion in trading volume by 2021. Over $1 billion in cumulative trade volume has been generated by the Bored Ape Yacht Club’s three collections since April, making it one of the most popular NFT profile image collections on the market. Timbaland, Jimmy Fallon, Stephen Curry, and billionaire businessman Mark Cuban all possess one of the Boring Ape NFTs.
The creators of Bored Ape, Yuga Labs, have granted NFT holders entire commercial rights. As a result, they can make whatever derivative artwork or things they want. As they discovered in August, Arizona Iced Tea is unable to use the Boring Ape Yacht Club name or trademark due to legal issues. Kingship, a metaverse band that will perform in virtual worlds and distributes NFTs, has been announced by Universal. Nicholas Adler, who also manages Snoop Dogg, is the band’s leader.
To monetize on the NFT pictures he owns, Bored Ape has struck a deal with CAA. Other NFT collectors have also agreed to market their holdings. The term “metaverse” refers to online communities where people can interact with 3D avatars. With its recent company rebranding to Meta, Facebook is betting big on such a future. In such a reinvented online experience, NFT collections and owned assets are expected to play a significant role.
Snoop Dogg could be the first well-known musician to put the idea to the test. Decentraland and The Sandbox, two Ethereum-based metaverse gaming environments, might host virtual band concerts. Earlier this month, Timbaland released a set of NFTs in support of his impending “Opera Noir” EP.