Gone but not forgotten, ‘NFT supergroup’ Kingship has deactivated its social accounts, deleted its YouTube page, and seemingly shuttered its website. Photo Credit: 10:22PM/Universal Music Group
So long, Kingship: With the non-fungible token (NFT) craze having largely fizzled out, the Universal Music-formed “NFT supergroup” has seemingly called it quits.
It’d be an understatement to say that much has changed since Kingship arrived on the scene about three years ago. Featuring four characters from the Bored Ape Yacht Club NFT project, the virtual supergroup, part of UMG’s 10:22PM “next-gen label,” debuted at perhaps the height of the non-fungible token craze.
Defined by highly questionable token prices and unbridled enthusiasm, that height ultimately made way for a material valuation falloff; data last year suggested that 95% of NFT collections had become “worthless.”
Several related lawsuits from ticked-off buyers, besides well-founded criticism from others yet, are still playing out. And the likes of Justin Bieber and Madonna are grappling with litigation centering on the Bored Ape Yacht Club itself.
It’s against this backdrop that Kingship, evidently unable to hit its commercial stride in today’s ultra-competitive music space, appears to have thrown in the towel.
To be sure, the virtual group has apparently deactivated each of its social accounts and closed its YouTube channel to boot. The relevant Discord server looks to be down as well, while the Kingship website (Kingship.io) now redirects one to more than 9,000 words’ worth of Universal Music terms and conditions concerning the offering.
“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,” one section of the text wall blares.
As for the significance of this liability limitation, it was only in July 2022 that Kingship purportedly sold through an entire collection of tokens. At the time, the seller billed said tokens as a means of accessing an exclusive digital world and other limited-availability perks; Spotify then tested token-enabled Kingship playlists in February 2023.
But with lengthy terms of use having replaced the Kingship website, the precise status of these perks (and the path forward for customers) is unclear.
However, the terms also include an arbitration clause and spell out 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 the time of writing, the virtual group hadn’t put out a formal statement addressing its status, and members including “Mutant DJ and Producer” Arnell couldn’t be reached for comment. While the self-described supergroup may be no more, fond memories of its members will undoubtedly live on in the hearts of diehard fans.
Joking aside, the still-unfolding NFT fallout is important amid the industry’s ongoing superfan-monetization expansion.
Stated bluntly, dedicated supporters had no problem shelling out massive sums for questionable tokens. In 2025 and beyond, there may be continued opportunities when it comes to losing the token descriptor, lowering prices, increasing volume, and actually providing the promised perks to communities of inherently committed fans.
As for 10:22PM, Universal Music is keeping the so-called next-gen label alive for the time being, the appropriate website indicates. But founder Celine Joshua, who also created Kingship, exited in November 2023 and landed with BMG this past August.