With the world hopping onto the non-fungible token (NFT) craze, Taiwan has taken the lead with the launch of 0x0, the world’s first metaverse music label.

Created by a group of music enthusiasts, the artists that 0x0 represents exist in the form of NFT characters, putting out music and MVs with the characters as their identities, 0x0 said in a statement on Friday.

This maximizes the potential of NFT ownership, and paving the way for creators and NFT owners to fully utilize their intellectual property in the future, it added.

According to the statement, the first artist to be introduced on 0x0’s roster of Web3 talents is Medicine Man, a “Bored Ape” from the well-publicized BAYC (Bored Ape Yacht Club) collection.

Specializing in modern hip-hop, Medicine Man has released his first original single “Hello Tokyo”, inspired by his first trip to Tokyo as a musician, where he stayed in the city for a month to experience the lifestyle there.

With the release of ‘Hello Tokyo’ onto all major streaming platforms, 600 song NFTs were also minted, collecting close to 5 million NTD ($167,940) in ETH within a short period.

The ‘Hello Tokyo’ NFTs were presented in three different formats – vinyl, cassette and CD – each of which had a unique cover featuring different sceneries, food, brands or celebrities from Japan. They are still available for purchase on NFT marketplace OpenSea.

0x0 has also formed a metaverse supergroup “Medicine Man & A-Pop”, a 21-member group consisting of 21 “Bored Apes” with a combined net worth of almost 200 million NTD ($6.7 million).

Medicine Man & A-Pop will be collaborating with Taiwanese-Australian singer Kimberley Chen later this month on a new single ‘Medicine Man’, marking their first foray into Mandopop.

In the music video, Kimberley plays the role of “Ape Wife”, appearing on screen with her 21 “Bored Ape” collaborators, in a first-of-its-kind cross-reality music video.

Besides Medicine Man, 0x0 has also introduced its second group of artists, VOIZΞ, a cyberpunk band consisting of lead singer Iggi Bob, drummer TH_ and bassist Severus Vape, and represented by an alien-like character.

The band has released their first single “Degen”, as well as its music video. The single was released alongside 400 NFT copies, which are also available for purchase in a similar format to Medicine Man’s “Hello Tokyo”.

Going forward, 0x0 continues to look out for new musicians within the metaverse scene. They have already signed up an NFT from the popular “ZombieClub” series to be an upcoming artist, and are looking to procure another character from Taiwanese NFT series “Elysium Shell”.

The 0x0 label exists as a decentralized autonomous organization (DAO) to give more power to fans. Each song NFT released by the label serves as a 0x0DAO token, and owners of these tokens are recognized as stakeholders of the label.

Besides gaining access to exclusive membership opportunities, they are also granted a voice within the label to give suggestions and propositions, which will then be voted on by the other members in the community, such as what to name a new artist, and which NFTs to sign on in the future.

The 0x0DAO will serve as a fund for the operations of the label, going into areas such as music production, artist development, or the purchase of other NFTs and virtual real estate. Developments are made after the community members have voted on them, and any profits from these developments are returned to the fund, benefiting 0x0DAO as a whole.

As a constantly-evolving label, 0x0 aims to reshape the music industry through the concept of Web3, and introduce the label to a global audience.

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