The owners of the non-fungible token (NFT) of Bored Ape Yacht Club (BAYC) have used their approved trading rights to turn their monkey images into anything from clothing to toys. Now they can enjoy their own M&Ms.
confectionery is giant mars revealed that it has entered into an agreement with Universal Music Group (UMG) label 10:22 PM to develop limited edition boxes of M&M based on KINGSHIP, its virtual band made up of bored ape yacht club and mutant ape avatar.
Kingship was launched by investor and entrepreneur Jimmy “j1mmy” McNellis as a Metaverse band formed from the NFT. The label built personalities around depictions of bored monkeys and is developing original music for the group – following in the footsteps of the virtual band Gorillaz – which would perform concerts in the Metaverse world.
As part of the deal, Mars has released a limited amount of branded candies featuring images of bored apes and kingships on them. Mars will sell 10,000 packages between a gift box and a gift jar.
The firm has also launched its own NFT key cards, which offer several benefits to the card holders. Bored Ape Yacht Club is one of the most popular NFTs in the business. CryptoSlam data shows that Yuga Labs’ NFT portfolio has generated over $2.4 billion in secondary trading volume so far.
NFT. market forstill growing
Since the inception of NFT in 2021, the market has experienced an increase in trading volume and an increasing number of participants from all sectors.
Digital artwork is hard to obtain, as they are rare and unique. Not many people are aware of them or have easy access to purchase them. This results in great frustration for buyers who don’t get what they want, as the market for these pieces is still developing.
Competition for Blockspace is rapidly creating brief and lucrative surges in the price of gas, while whitelist sales strategies are often condemned for being centralized, with no transparency or immutable records for the community to hold teams accountable. Happens – these factors, in addition to the slow speed, the speed of the transaction.