The event will take place from November 10-13, according to a press release issued by the company on Monday, and will “showcase the latest metaverse technology,” the company said. The event will feature a pop-up NFT gallery, limited-edition wearables, and more, as well as Decentraland’s Emotes. These are custom dance moves or poses that can be purchased using NFTs.

Decentraland has invited over a hundred musicians, including rock legend Ozzy Osbourne, techno DJ Dillon Francis, and rap icon Soulja Boy. It’s also working with a number of other companies to host stages and sponsor experiences during the festival, including metal festival Ozzfest, NFT music site Limewire, augmented reality metaverse platform OVER, and others.

According to Iara Dias, the festival’s producer, the fest aims to unite the Web2 and Web3 communities for the sake of both audiences and performers. The festival will not only provide free admission to people from around the globe, it will also give musicians a chance to interact with their fans via means like token-gated events.

Dias clarified that the goal of the virtual music festival was not to replace the actual thing but rather to provide attendees with more chances to appreciate musical talent.

Over 50,000 people attended the first-ever Decentraland Music Festival, which included 80 different performers over the course of four days last year. Metaverse Fashion Week in March and its New Year’s Eve celebration in December are just two examples of the comparable events it has hosted.

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Today, an official release was issued by the Big Three record company, which presented these high-profile newcomers to Kingship.
Back in November of 2021, UMG presented the first episode of Kingship, which is based on the characters from the Bored Ape Yacht Club NFT project.
Since then, the fictitious “band” – which is expressly signed to UMG’s 10:22 PM “next-gen label” – has made an appearance on limited-edition M&Ms and is said to have been sold via a sizeable collection of non-fungible tokens. Additionally, the tokens are not exchangeable for cash.

At the time that this article was written, some entrepreneurial fans were attempting to resale the Kingship M&Ms sets on eBay for an enormous profit; however, none of the exorbitantly priced listings seemed to have found purchasers.

Who Are the New Kingship Members?

Hit-Boy, also known by his full name Chauncey Alexander Hollis Jr., is 35 years old and has produced music for several popular musicians, including Lil Wayne, DJ Khaled, Kendrick Lamar, Rihanna, Kanye West, Nas, and Drake, amongst many others.
James Fauntleroy, who is now 38 years old, has been credited with creating songs for artists such as Cardi B, Justin Timberlake, Jordin Sparks, Timbaland, and Kelly Clarkson, to mention just a few.

According to Universal Music, Hit-Boy and Fauntleroy are now in a position to supervise the progression of the group’s music direction.
The major record label also made it clear that the newest members of Kingship “will work with Arnell, the group’s Mutant DJ and Producer.” However, it remains to be seen what kind of creative contributions the latter, who is neither a real musician nor a real person, will make.

Kingship’s songs will receive streaming royalties in the same manner that projects traceable to legitimate artists do so, and because of the musical skill of Hit-Boy and Fauntleroy, the NFT act’s tunes might create an impact in the commercial market.

Celine Joshua, the originator of Kingship as well as a former higher-up at both Sony Music and Warner Music, issued a statement in which she addressed the news made today and stated:

“KINGSHIP’s journey is rooted in storytelling, experiences, and music. I’m incredibly thankful that Hit-Boy and James Fauntleroy, two of the most influential and creative geniuses in the entire industry, are coming together to develop the music and sound for KINGSHIP.”

Fauntleroy, the winner of four Grammy Awards, said in his statement:

“It’s so exciting to be a part of something historical and ambitious. As a huge nerd, and music fanatic, I can’t wait to see what comes from the intersection of the web3 collectors/creatives and the entertainment creative community.”

The only big record company that is actively working to grow its position in the virtual-artist and NFT worlds is Universal Music, although other large labels are doing the same thing.

The month of August came to a close with Columbia Records applying for a trademark in the United States for NFT music and visual media. Sony Music is continuing to invest in a digital K-pop sensation called APOKI, whose career ascent follows the unexpected termination of FN Meka’s career.

The post Hit-Boy and Fauntleroy to Head Up the Team for UMG’s Kingship appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.