Sony Music Entertainment, the music giant based in the United States, has expressed the plan to use non-fungible tokens (NFTs) following the submission of a trademark application dealing with the artists and music under the logo Columbia Records.
Trademark Application Filed by Sony Music to Offer Music Authenticated by NFTs
As per a trademark application, that was filed on 30th August with USPTO and shared by Mike Kondoudis (the trademark attorney) on 6th September), the application takes into account video and audio recordings containing live musical shows having an authentication by non-fungible tokens (NFTs).
According to the attorney, the services related to music distribution and artist management along with many other things (such as audio-visual recordings, podcasts, online entertainment, promotions, and marketing were also included in the application. The filing of this trademark application is being witnessed at the moment when several NFT projects supported by Sony Music are available in the market.
In August, an NFT marketplace called MakerPlace – which is specified for digital art – collected up to $30M in a Series A funding round with Sony Music Entertainment, Coinbase Ventures, Bessemer Venture Partners, and Pantera Capital as the participants. The month of march this year witnessed a collaboration between the music firm as well as Snowcrash (an NFT marketplace based on Solana) as well as Universal Music Group (a music giant).
The respective partnership was carried out to launch the NFT collections of Miles Davis and Bob Dylan this year. The venues are also enthusiastic about taking some other initiatives in the future. The Metaverse as well as the NFT spaces are gaining more and more attention in the case of entertainment and music industry.
MTV Video Music Awards Witness another Category of Best Metaverse Performance
The Video Music Awards of MTV work conducted on 29th August presenting huge virtual and online performances, taking into account Snoop Dogg and Eminem’s performance on their latest single featuring a Yuga Labs-based Metaverse. The respective single was launched in June, presenting 2 avatars based on Bored Ape Yacht Club under the possession of Snoop Dogg and Eminem.
The Video Music Awards of MTV additionally introduced a unique award category named Best Metaverse Performance. In the respective category, the nominations included Blackpink, BTS, Twenty One Pilots, Charli XCX, Justin Bieber, and Ariana Grande, who were the winners in the end.
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