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One of the most popular candy brands in the world is the latest to see a partnership signed with the owner of a popular non-fungible tokens (NFTs) collection.
What Happened: Mars partnered with KINGSHIP, an NFT Supergroup featuring Bored Ape Yacht Club NFTs and Mutant Ape Yacht Club NFTs, for a limited-edition collection of M&M’s that has Bored Ape and Mutant Ape images on them.
The new partnership plays on a storyline that KINGSHIP requires M&M’s of all colors as one of its tour riders.
“The fundamental inspiration for this first-of-its-kind collaboration with M&M’s is rooted in rock ‘n’ roll lore and legend. For decades, rock bands notoriously insisted on tour riders to satisfy talent requests for specific backstage beverages, snacks and accommodations,” the press release reads.
The collection includes three different products.
Gold edition, white and gold foil gift box, numbered 1 to 100: $99.99
Exclusive celebratory gift box, numbered 101 to 4,000: $59.99
Limited edition gift jar, numbered 1 to 6,000: $39.99
The M&M’s feature printed candies with KINGSHIP group members on them. The collection is available to U.S. residents beginning Wednesday.
At the time of writing, the gold edition is sold out and the other two remain available for sale.
“Consumers’ expectations for what they want from their favorite brands has shifted, and at Mars, we know we need to be more innovative than ever with such a culturally famous brand like M&M’s,” Mars Wrigley Global Vice President Jane Hwang said.
Related Link: Bored Ape Yacht Club Hard Seltzer Coming, Here Is Who’s Behind The Drink
Why It’s Important: KINGSHIP consists of Captain, KING, Arnell and Hud, three Bored Apes and one Mutant Ape that make up the first NFT supergroup.
This marks the first collaboration between Bored Ape and Mutant Ape characters and M&M’s.
KINGSHIP has its own NFT called the Key Card, which has a floor price of 0.18 Ethereum ETH/USD. Holders of the Key Cards were the first to know about the collaboration and got early access to the products.
The Key Cards provide membership with access to music, exclusive content, community and token-gated experiences, according to the description on OpenSea.
The press release hints there could be more in the future for KINGSHIP and M&M’s saying “M&M’s will play a key role in KINGSHIP’s story.”
M&M’s becomes one of the latest brands to partner with NFTs, such as Bored Apes and Mutant Apes, with many others already in the space like Nike Inc NKE, PepsiCo, Inc PEP, Anheuser-Busch InBev SA BUD, Adidas AG- ADR ADDYY, Tiffany and others.
Price Action: The floor price of Bored Ape Yacht Club is 73.7 ETH at the time of writing, or $123,209. Mutant Ape Yacht Club has a floor price of 14 ETH, or $23,564.
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Image and article originally from www.benzinga.com. Read the original article here.