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In order to further defend the artistic value, Sony Music applied to the US Copyright Office on August 30, hoping to strengthen the copyright protection of its music NFTs.
Sony Music officially applies for copyright of its music NFT
The development potential of NFT is huge. It can not only defend the autonomy of creators, but also take into account the interests of users and platforms, creating a rare win-win situation. As one of the four giants of global music entrepreneurship, Sony Music has been committed to developing a new creator economic ecology and actively promoting the development of “Music X NFT”.
Sony Music submits copyright application related to music NFT
According to the United States Patent and Trademark Office (USPTO), Sony Music hired trademark attorney Mike Kondoudis on August 30 to formally file a trademark application for NFT and Metaverse for “NFT-verified live concert recordings and images.”
It is reported that the copyright application also covers all Web3-related services such as marketing, publicity, merchandising, advertising and online entertainment such as podcasts and audiovisual broadcasting.
The development prospect of music NFT
Similar to cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, NFTs also have the characteristics of immutability. The difference is that the essence of NFT is not money, the market value of each NFT is not equal, and it cannot be exchanged arbitrarily.
This feature has attracted many creators to start integrating NFT technology into their creations, such as paintings, videos, music, recordings, tickets, etc., hoping to obtain longer-term and considerable income.
In fact, in addition to Sony Music, there are also many famous musicians who have set foot in the NFT world. The music wizard Grimes launched 10 music NFTs in February last year, and sold for $6 million in just 20 minutes; well-known song queen Whitney Houston also recorded a single in the form of NFTs at the age of 17, and finally sold for $1 million make a deal. Even the Coachella Music Festival, a global music event, has taken the lead in announcing the sale of lifetime passes and collectibles in the form of NFTs in recent years.
It is believed that in the near future, with the continuous innovation of blockchain technology, the entire music NFT ecosystem will continue to change sharply, bringing more innovative experiences to musicians, fans and platforms.