Sony Music recently filed a new trademark application under the Columbia Records logo. The music giant directly signaled toward using NFTs for artists and music. The company applied back in August to the USPTO (the United States Patent and Trademark Office) via Mike Kondoudis.
The application covers video and audio recordings featuring live musical performances authenticated using NFTs. Mike Kondoudis, the trademark attorney, tweeted about the application, sharing what it entails.
According to the tweet, Columbia Records plan to the trademark for:-
- Music and Podcast Production
- NFT Backed Media
- Artists Management and Music Distribution Services
It will also cover marketing, distribution, promotion, online entertainment, and advertising, including audiovisual recordings and podcasts. A month ago, MakersPlace, a market focused on digital art and NFTs, secured 30 million dollars in Series A financing.
Names like Coinbase Ventures, Sony Music Entertainment, Pantera Capital, and Bessemer Venture Partners led the financing round. In March, the music company partnered with Snowcrash to launch Miles Davis and Bob Dylan NFT collections.
These developments were enough to show the progression of NFTs in the music industry. Even MTV VMA featured virtual performances, including Snoop Dogg and Eminem performing their single in the metaverse.
Released in June, the song featured two Bored Ape Yacht Club characters owned by Snoop and Eminem. Besides this, the event also introduced the audience to a new award category – Best Metaverse Performance.
The category featured six acts in the first year, including Twenty One Pilots, Justin Bieber, Blackpink, Charli XCX, Ariana Grande, and BTS. Given the massive success NFTs have garnered in the music industry, Sony’s move is seen as future-proof.
The quicker music labels get acquainted with NFTs and the metaverse, the better they will be prepared for mainstream adoption.
Source: https://www.cryptonewsz.com/sony-music-filing-trademark-application-for-music-based-nfts/