NFT News: Sony Music Files Trademark Application For NFT-authenticated Music

Sony Music Entertainment, an American music giant has signaled intentions to utilize non-fungible tokens (NFTs) after filing a trademark application covering music and artists under the Columbia Records logo. 

iexclusivenews reports that according to an Aug. 30 trademark application to the United States Patent and Trademark Office (USPTO) shared by trademark attorney Mike Kondoudis on Sept. 6.

The application covers “audio and video recordings featuring live musical performances authenticated by NFTs.”

This online news outlet understands that the application also covers marketing services, promotion, distribution, marketing, advertising, and online entertainment, including podcasts and audiovisual recordings.

The new trademark application follows a number of other Sony Music-backed NFT projects.

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MakersPlace, an NFT market dedicated to digital art, received $30 million in Series A funding in August from a group of significant investors that included Pantera Capital, Bessemer Venture Partners, Coinbase Ventures, and Sony Music Entertainment.

The music firm announced a partnership with Solana-based NFT marketplace Snowcrash and fellow music conglomerate Universal Music Group in March to distribute Bob Dylan and Miles Davis NFT collections in 2022, with plans for more in the future.

NFTs and the Metaverse are gradually gaining traction in the music and entertainment industries.

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On August 29, MTV’s Video Music Awards featured a number of online and virtual performances. Including Eminem and Snoop Dogg performing their new hit in a Metaverse created by Yuga Labs, the same firm that created the Bored Ape Yacht Club.

The song “From the D to the LBC” was released in June and featured Eminem and Snoop Dogg’s Bored Ape Yacht Club avatars.

However, iexclusivenews Nigeria reports that MTV’s Video Music Awards also unveiled a new award category.

Best Metaverse Performance, in its first year, with nominations for six different acts. Including Ariana Grande, Justin Bieber, Charli XCX, Twenty One Pilots, BTS, and Blackpink, who finally won.