Sony Music Files Patent for NFT-Authenticated Music. Sony Music has filed a patent application for NFT-authenticated music. The company is planning to use the technology to create music, podcasts, artist management, and distribution services. The application covers downloadable audio recordings of live musical performances, as well as image files and multimedia files related to them.
Sony Music’s move is seen as future-proof
Sony Music has a colossal amount of cash and is spending it in an effort to make it future-proof. It has invested in companies like Peloton and TikTok, which may not exclusively work with WMG artists but also with independent record labels. Those acquisitions are all investments in the future. They are the equivalent of stocking lottery picks in the front office of an NBA team, with hopes that one day they’ll be Kevin Durant. It is also a sign of the indie movement, which has created new needs for artists and is finding new ways to support them.
The company is also putting its money to work by forming a joint venture with Adam Davidson and Laura Mayer. Davidson is a New Yorker staff writer and co-founder of Planet Money. He is also the co-founder of Arrow Productions. These new companies will focus on the creative aspects of podcasting, and Sony Music will take on the business side of things. Both companies have pledged an undisclosed amount of money into the venture.
It’s the first music company to adopt non-fungible tokens
In a move that signals a broader adoption of non-fungible tokens, Sony Music Entertainment has filed for trademark protection for its Columbia Record logo, which is used to authenticate music and lyrics. Its application also covers online entertainment services, podcasts, audiovisual recordings, and marketing services. The company has also backed several NFT initiatives, including MakerPlace, which secured $30 million in Series A financing.
Tokenization has the potential to change the economic model of the music industry. Not only will music rights holders benefit, but also musical artists. Already, many major artists have begun to monetize their music through NFTs. For example, electronic music artist 3LAU tokenized his album Ultraviolet and sold NFTs for more than $10 million. Another dance music duo, Disclosure, has sold NFTs for $69.00 each. And American rock band Kings of Leon are using NFTs to fund a charity that supports live event workers.
It is unclear why Sony Music is embracing non-fungible tokens. While it may be the first music company to adopt this technology, other companies are experimenting with it. Universal Music Group’s Republic Records recently filed for trademark protections for cryptocurrency and the metaverse. It recently won the “Best Metaverse Performance” award at the MTV Video Music Awards. However, it’s always recommended that individuals conduct their own research before making any decisions. And remember to always carry full responsibility for your actions.
Sony Music has a long history of embracing new technologies and has also made a significant investment in NFT platform MakersPlace. The company recently announced a collaboration with blockchain gaming company Splinterlands and invested in NFT avatar platform GENIES. The company has also announced that it plans to start a NFT music group in the future.
It’ll be used for artist management
Sony Music is planning to use its trademark on NFT-authenticated music in a variety of applications, including music production, podcasts, artist management, and music distribution services. The company has filed a patent application with the USPTO through its trademark attorney, Mike Kondoudis. The patent covers downloadable audio recordings of live musical performances, as well as image and multimedia files related to those performances.
The application also covers music signed under the Columbia Records label, live performances, and music distribution that is authenticated with NFTs. The patent covers text and artwork associated with the music, as well as audio and video recordings. Sony is the first major record label to apply for a patent, and it’s expected to receive the patent in the next year.
The patent application, published in the United States Patent and Trademark Office on Jan. 10, 2019, describes an innovative process to authenticate downloadable music and live musical performances using NFTs. It also covers multimedia files with artwork and marketing services for musicians and artists. Besides music, NFT-authenticated music can also be used for live performances and other entertainment services.
Earlier this year, Sony Music Entertainment filed trademark applications on its music under the Columbia Records logo, as well as on artist management, podcasts, and videos. The company also filed patent applications for its services and products that are connected to online music. Sony Music Entertainment is backing the projects using NFTs, and has already raised $30 million in Series A funding.
The company is already partnering with Snowcrash, an NFT marketplace, to create a music-authenticated music experience. The company also plans to launch a collection of NFT-authenticated music in 2022, including Bob Dylan and Miles Davis. This technology is becoming increasingly popular in the music industry, and the company hopes to capitalize on the hype surrounding it. A recent MTV VMA featured Snoop Dogg and Eminem performing their single in the metaverse, and MTV introduced a new award category for best metaverse performance.
It’ll be used to create virtual cars
Sony Music is a major player in music and has recently filed a patent for NFT-authenticated music. This technology is expected to change the way people listen to music. The application covers music under the Columbia Records label, as well as multimedia files that contain artwork. It also covers music marketing, distribution, and services. Sony also plans to use NFTs for its podcasts and online entertainment.
NFTs are becoming increasingly popular in the music industry. Last year, the MTV Video Music Awards featured a large number of virtual performances and online music streams. Eminem and Snoop Dogg performed in the Metaverse, a music platform created by Yuga Labs.
The NFT technology is now being used by artists to make their music more popular and accessible. Artists can earn a percentage of each sale through the technology. For instance, the artist Trey Ratcliff gets 10% of the proceeds each time his music is bought and sold using the NFTs. Reuben Wu is another artist who uses NFTs.
It’ll be used to sell virtual clothing
Sony Music has applied for trademark for the Columbia Records logo and for the use of NFT for downloadable music, which could be used for selling virtual clothing. The company also has trademarks on podcast production and artist management and distribution and promotion services. The patent covers both downloadable music and live music performances. The music and video content will be backed by non-fungible tokens.
The idea of using NFT to authenticate music is not new, but the technology is still in its early stages. Many companies, such as Sony Music Entertainment, have expressed interest in NFTs and have already filed trademark applications for music and artists under the Columbia Records brand. Sony Music also plans to use the technology for streaming services, podcasts, and online entertainment. It’s also backing several other companies that are developing NFT platforms, including MakersPlace, which recently secured $30 million in Series A funding.
Another recent innovation involving NFTs is the use of virtual currency to purchase music. Snoop Dogg’s Death Row Records label will be selling NFTs. Warner Music Group also invested in Dapper Labs, which created CryptoKitties, and has teamed up with Muse to produce two new crypto-collectibles. Kings of Leon also announced the release of an NFT album, and issued three kinds of tokens with special artwork. Daft Punk also issued collectibles on the Rarible platform.
Another notable company that has filed trademark applications related to the metaverse is the luxury fashion brand Hermes. This company filed trademarks for its name and has plans to launch NFT-authenticated music and virtual goods marketplaces. A major brand, Adidas, has also filed trademark applications to sell virtual clothing and virtual goods in the metaverse.
