Kingship Dies: Universal Music NFT Supergroup Deactivates Social Accounts, Deletes YouTube Page

With the non-fungible token (NFT) craze having largely fizzled out, the Universal Music-formed “NFT supergroup” has seemingly called it quits.

Three years after its arrival, the non-fungible token (NFT)-powered “supergroup” Kingship has apparently closed its doors.

The virtual group, which featured four characters from the Bored Ape Yacht Club NFT project, was part of UMG’s 10:22PM “next-gen label.” It debuted during the height of the NFT craze, which was defined by surging token prices and widespread enthusiasm.

However, the craze ultimately subsided, with data from last year indicating that 95% of NFT collections had become “worthless.” Several related lawsuits from dissatisfied buyers, in addition to criticism from others, are still playing out.

Set against this backdrop, Kingship, which failed to achieve commercial success in today's competitive music industry, appears to have disbanded.

The group has reportedly deactivated all of its social accounts and closed its YouTube channel. The relevant Discord server also seems to be down, and the Kingship website (Kingship.io) now redirects to a page displaying over 9,000 words of Universal Music terms and conditions.

“IN NO EVENT SHALL UNIVERSAL OR ANY OF ITS PROTECTED ENTITIES BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES ARISING FROM, OR DIRECTLY OR INDIRECTLY RELATED TO, THE USE OF, OR THE INABILITY TO USE, THE SITE OR THE CONTENT, MATERIALS AND FUNCTIONS RELATED THERETO,” states one section of the displayed text.

Regarding the significance of this liability limitation, it's worth noting that Kingship reportedly sold through an entire collection of tokens in July 2022. At the time, the seller described these tokens as a way to access an exclusive digital world and other limited-availability perks. Subsequently, Spotify tested token-enabled Kingship playlists in February 2023.

But with the Kingship website having been replaced by these lengthy terms of use, the precise status of these perks (and the path forward for customers) remains unclear.

The terms also include an arbitration clause and stipulate that Universal Music's “TOTAL AGGREGATE LIABILITY” for any alleged damages cannot exceed “THE AMOUNT, IF ANY, PAID BY YOU TO UNIVERSAL FOR YOUR USE OF THE SITE.”

At press time, the virtual group had not released a formal statement addressing its status, and members such as “Mutant DJ and Producer” Arnell could not be reached for comment. While the self-proclaimed supergroup may be gone, fond memories of its members will surely persist among their diehard fans.

On a more serious note, the ongoing NFT fallout is significant as the music industry continues to expand its efforts to monetize superfans.

To put it simply, dedicated fans were willing to pay exorbitant amounts for tokens of questionable value. Moving forward, there may be opportunities to eliminate the ‘token’ designation, reduce prices, increase volume, and actually deliver the promised perks to communities of inherently engaged fans.

As for 10:22PM, Universal Music is keeping the so-called next-gen label alive for now, according to the relevant website. However, founder Celine Joshua, who also created Kingship, left in November 2023 and joined BMG in August of this year.