2 years ago
Universal Music Group (UMG) could beryllium ramping up plans for its non-fungible token (NFT) band, filing 4 trademarks tied to the Bored Ape Yacht Club NFT it announced arsenic the band’s person successful March.
The trademarks bespeak plans for “crypto tokens, inferior tokens, exertion tokens and non-fungible tokens,” arsenic good arsenic “online retail store services featuring carnal and virtual merchandise,” according to the March 31 filings.
UMG purchased Bored Ape #5537 connected March 18 for 125 ETH with plans to marque the quality the person of its NFT set “Kingship.” The NFT outgo astir $360,000 astatine acquisition but the ETH worth is present worthy $470,000.
While the euphony elephantine has revealed fewer details for the prospective band, its involvement successful NFTs comes arsenic portion of a larger propulsion to experimentation with Web 3.
UMG inked a woody with metaverse avatar institution Genies in December, successful what the company’s vice president of commercialized innovation, Celine Joshua, told CoinDesk was a portion of a larger imaginativeness for UMG clients to make their virtual brands.
UMG did not respond to CoinDesk’s trademark questions by property time.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Eli is simply a quality newsman for CoinDesk. He owns BTC, ETH and SOL.
Sign up for Market Wrap, our regular newsletter explaining what happened contiguous successful crypto markets – and why.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 