Universal Music Group Files 4 Trademarks for Its Bored Ape Band Leader
UMG’s NFT band experiment continues with plans for tokens and a physical merch marketplace.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VMG6DIFHGVGGRBJQQFOFYIRUEI.png)
Universal Music Group bought this Bored Ape in March. (UMG)
Universal Music Group (UMG) could be ramping up plans for its non-fungible token (NFT) band, filing four trademarks tied to the Bored Ape Yacht Club NFT it announced as the band’s leader in March.
The trademarks indicate plans for “crypto tokens, utility tokens, application tokens and non-fungible tokens,” as well as “online retail store services featuring physical and virtual merchandise,” according to the March 31 filings.
UMG purchased Bored Ape #5537 on March 18 for 125 ether (ETH) with plans to make the character the leader of its NFT band “Kingship.” The NFT cost roughly $360,000 at purchase but the ETH value is now worth $470,000.
While the music giant has revealed few details for the prospective band, its interest in NFTs comes as part of a larger push to experiment with Web 3.
UMG inked a deal with metaverse avatar company Genies in December, in what the company’s vice president of commercial innovation, Celine Joshua, told CoinDesk was a part of a larger vision for UMG clients to develop their virtual brands.
UMG did not respond to CoinDesk’s trademark questions by press time.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.