Universal’s KINGSHIP is a digital music supergroup signed to 10:22pm, which sell NFTs and access cards to their virtual world, as well as other products and experiences. The group has sold an initial 5,000 access-enabled Key Cards minted as NFTs which unlock a token-gated community for the holders. The minting took place on July 14th and had sold out within two hours of release.
The KINGSHIP collection was ranked #1 on OpenSea’s Music Chart and became the top trending NFT collection on the site. The NFT collection sold out their primary mint sales 1-300 within minutes.
Despite the downturn on the crypto market, KINGSHIP NFT’s on the secondary market are currently 2x the price of their primary sale price. The collectable tokens, known as Key Cards, feature different members of the band and contain unique attributes. The attributes will be revealed over time, with some rarer than others. Additionally, the Key Cards unlock access to exclusive music, content, products and a token-gated community.
KINGSHIP has become one of the leading forces in the music-crypto market, with Universal leading the way with the first executed concept of a virtual band. The success of the band could lead to more major labels following suit, while also proving music to be a viable and profitable option within the crypto- market.
