Bored Ape Yacht Club (BAYC) has been booming lately. Just a few days ago we covered the story of a few monkeys who teamed up with Universal Music Group to form a new band, “Kingship”.
Now, Grammy-winning producer Timbaland is the latest to ‘monkey in’ – and we literally mean it. The super-producer is teaming up with BAYC to form “Ape-In Productions” (AIP), an artist-owned virtual community and entertainment company that will promote the artists of the Bored Ape Yacht Club.
Timbaland is wholeheartedly “all-in” on NFTs. His website has previously hosted a first auction and NFT giveaway, and he maintains an early access mailing list as well as a Discord channel. In addition, he slowly launched his “Producer Mix Series” NFTs, which are computer-generated NFTs synchronized with his next project, “Opera Noir”. Oh, did we mention that his Twitter profile photo is his Bored Ape too? When it comes to high-level musical artists, Timbaland is definitely pushing the bill.
Reports have indicated that Timbaland plans to “disrupt the music business” and create “a new entertainment platform in the metaverse that puts creative control and long-term ownership back into the hands of artists, a concept that is extremely important to us ”. Indeed, it is also essential for today’s creatives.
In no time, AIP already signed “TheZoo”, a hip-hop group made up of BAYC. AIP NFTs are expected to include exclusive content, concerts and live performances. Additionally, TheZoo is expected to release musical NFTs in the coming weeks.
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Audius is one of many emerging audio-first NFT platforms. | Source: AUDIO-USD on TradingView.com
Musical NFTs can go much further than the simple boring Ape Yacht Club…
Musical NFTs are largely untapped so far in the NFT community, and many have speculated that audio NFTs are “the next step.” Why? The answer is arguably best spelled out in a recent tweet from Magdalena Kala, a savvy crypto and culture investor and writer:
crazy bullish about music x web3:
• the music industry is under-monetized compared to other entertainment
• musicians capture little value out of the total $$$ they help generate
• the most passionate fans have limited means to express their support or join the benefit of one of the first artists they discover https://t.co/fPVAqONyB9
– mags.eth ⬇️⬇️ (@magdalenakala) November 15, 2021
The music industry is ripe for the revitalization that NFTs can provide. The income stream for creators has remained largely unchanged for decades, leaving artists and musicians with pennies on the dollar. Additionally, at Magdalena’s final point, musical artists are some of the most loyal fan groups among the entertainment industries, but the opportunities to support your favorite artists are limited. Want to find a new artist? Hope the Spotify algorithm works for you. Want to support your favorite artist? Hope they are touring a city near you, or maybe they have some merchandise online for sale. However, if none of these things bothers you, you’re basically out of luck. As the old saying goes, blockchain ‘solves this’.
There are a ton of emerging music and audio projects out there right now, but most are still in their infancy. One thing is for sure: there is a lot more to music and blockchain to come.
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Featured image from timbaland.com, Charts from TradingView.com