UMG’s web3-focused label 10.22PM has announced the latest stage of its campaign for cartoon band Kingship: a drop of 10,000 NFTs starting this Saturday (14 May).
They’re being described as ‘Key Cards’ which will give fans access to a new virtual world being created for the group.
“These Key Cards not only provide entry to the world of Kingship, they are also an entirely new way to introduce artists and music,” promised 10.22PM founder Celine Joshua. “They are also a way to serve our superfans with exclusive content, products and token-gated experiences.”
There’s a signup process to get a chance to mint one of the 10,000 tokens underway, with wannabe buyers required to have 0.19 ETH (just over $450) in their crypto wallet to sign up.
It’s certainly a bold move to sell NFTs based on a virtual group that hasn’t released any music yet, providing access to a virtual world that hasn’t launched yet. But given the entities involved – not just UMG but Bored Ape Yacht Club, with the four Kingship characters all part of its roster – we suspect the drop will be a sellout.