Bored Ape Yacht Club
Roblox players are about to get an eyeful — and potentially an earful — of KINGSHIP, the metaverse “supergroup” comprised of and managed by a shrewdness of Bored-and-Mutant Ape NFTs.
10:22PM, the Web3 label of Universal Music Group founded by Celine Joshua, announced on Thursday the launch of KINGSHIP Islands — an immersive in-game experience wherein Robloxers can work to unite the four band members on something called the “Floating Villa,” plus earn reward accessories and “acquire emotes for their avatars.” For minors with parents who are cool and totally not a drag, players can purchase customized animated heads and bodies for their avatars using Roblox’s facial animation technology.
As the game environment ages, more free virtual goods will be added along with new music produced by Hit-Boy and James Fauntleroy, the KINGSHIP “sonic creative team” that was announced a year ago. The band’s label said the pair — officially co-executive producers — are “overseeing the evolution of the group’s music direction and sound.”
The supergroup has yet to release music, and their manager Manager Noët All could not be reached for comment.
KINGSHIP Islands is free to play for any Roblox user, who must first complete various quests to gain access to the Floating Villa. Wanna skip all that? Owners of one of the 5,000 KINGSHIP Key Cards qualify for VIP access, along with special badges and other metadoodads. Key Card holders can access the villa at any time because they will have a special Roblox badge, which provide unique roles inside experiences, the label said.
The aforementioned Floating Villa, part of KINGSHIP Islands.
When they were released in July of 2022, the entire batch of Key Cards sold out in the span of a day, though they continue to trade on the secondary market. Over the last 30 days, 66 cards have been resold on OpenSea at an average price of 0.0592 ETH, or roughly $120 at the current exchange rate. The cards were designed to unlock forthcoming partnerships with major brands (see: Roblox), as well as unique artwork and immersive digital experiences.
10:22PM’s KINGSHIP project made its debut in November 2021 and is comprised of mutant ape Captain (vocals, bass) and bored ones KING (lead vocals), Arnell (beats, producer, drums) and Hud (guitar, keyboards, vocals). Avid NFT collector Jimmy McNeils supplied the apes for KINGSHIP from his own collection. At the time of launch it was billed as a “landmark, first-ever exclusive agreement to create a metaverse group.”
Hey look, a trailer:
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Justin Bieber, Snoop Dogg, The Weeknd and dozens of other celebrities are facing a new class action alleging they were secretly paid to “misleadingly” promote NFTs like the Bored Ape Yacht Club, leaving investors with “staggering losses.”
In a complaint filed Thursday in Los Angeles federal court, attorneys for a pair of consumers claimed that Bored Ape parent company Yuga Labs Inc. perpetrated a “vast scheme” in which they “discreetly” paid “highly influential celebrities” to pump up the value of the NFTs (non-fungible tokens).
“Defendants’ promotional campaign was wildly successful, generating billions of dollars in sales and re-sales,” the lawyers for the plaintiffs wrote. “The manufactured celebrity endorsements and misleading promotions … were able to artificially increase the interest in and price of the BAYC NFTs…, causing investors to purchase these losing investments at drastically inflated prices.”
Though this “conspiracy” eventually “raked in millions” for the various defendants, the lawsuit said investors in Bored Ape and other NFTs “were left with staggering losses.”
Yuga Labs and reps for Justin Bieber, Snoop Dogg, The Weeknd also did not return requests for comment.
The case is the latest over celebrity endorsements for cryptocurrencies and NFTs, which soared in value during 2020 and 2021 but have taken a bruising as the economy has slowed in 2022.
In January, investors sued Kim Kardashian, Floyd Mayweather and others earlier this year for promoting the cryptocurrency EthereumMax. And last month, after the spectuacular collapse of crypto company FTX, investors filed a similar suit against Larry David, Tom Brady, Giselle Bündchen, Shaquille O’Neal and Stephen Curry.
But such cases could be facing legal headwinds. The lawsuit against Kardashian and others over EthereumMax was dismissed by a federal judge on Wednesday, who said the conduct raises “legitimate concerns” about online “snake oil,” but that investors must still be expected to “act reasonably before basing their bets on the zeitgeist of the moment.”
Notably, that case was filed by the same lawyer, John T. Jasnoch of Scott + Scott, who filed the new case on Thursday against Yuga Labs. The new case was brought by Adonis Real and Adam Titcher, two consumers who say they bought NFTs, on behalf of potentially thousands of other buyers.
The new lawsuit centers on an alleged partnership between Yuga and music industry bigwig Guy Oseary – longtime manager to Madonna, U2, Red Hot Chili Peppers and others – in which they aimed to “leverage their vast network of A-list musicians, athletes, and celebrity client” to promote Bored Ape and other offerings.
The plaintiffs claim that this was achieved via MoonPay, a crypto platform in which Oseary’s venture capital firm had allegedly invested. Since the celebrity defendants were also allegedly investors in MoonPay, the lawsuit claims Yuga and Oseary used it “as a covert way to compensate the Promoter Defendants for their promotions of the BAYC NFTs without disclosing it to unsuspecting investors.”
Oseary did not immediately return requests for comment on the allegations.
Read the entire complaint here:
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