Sony Music Enters The NFT Industry With Trademark Application
Sony Music Entertainment, the American music behemoth, has stated its intention to enter the NFT industry. The entertainment company has submitted a trademark filing that covers artists and music under the record label.
Sony Music Submits NFT Trademark Application
On September 6th, Mike Kondoudis, a licensed trademark attorney, stated on Twitter that Sony Music had filed a trademark application on August 30th. According to the report, the filing covers video and audio recordings and live concerts underpinned by NFTs.
Additionally, the application covers promotion, distribution, marketing services, and advertising. It also covers online entertainment, such as audiovisual recordings and podcasts.
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Meanwhile, the latest trademark filing comes after the record label supported various NFT projects. Last month, Sony Music joined other companies such as Pantera Capital, Coinbase Ventures and others in a series A funding for the NFT marketplace, MakersPlace.
In March, the music giant also partnered with Snowcrash, a Solana-based NFT market and Universal Music Group. The partnership is to release Miles Davis and Bob Dylan NFT collections later this year, with more to come in the future.
The metaverse and NFTs are gaining prominence in the entertainment and music industry. The music ecosystem is gradually awakening to the potential of NFTs and adding them to their projects.
Muse, an English rock bank based in Devon, had launched their ninth music album as an NFT. They distributed the albums to fans as Digital Pressing.
Music Brands Enter Into The NFT And Metaverse Sector
In addition, OneOf, an NFT market, signed an agreement with The Christopher Wallace Estate. The aim of the deal is to develop an NFT collection for Biggie Smalls, a famous American rapper.
Last month, Snoop Dog and Eminem hosted a metaverse-based musical performance at the VMAs. Both singers performed their NFT-themed single on Yuga Labs Metaverse.
The performance displayed from Yuga Labs Metaverse included the artists in BAYC (Bored Ape Yacht Club) characters. Meanwhile, both artists have bought NFTs in the past and have also released several NFTs.
Moreover, MTV’s annual award program added another category this year, the Best Metaverse Performance. K-pop group, BlackPink, emerged as the winner of this category this year.
Blackpink faced tight competition from other famous singers vying for the award. Other singers that were nominated for the award include Twenty-One Pilots, Justin Bieber, and Ariana Grande.
In August, Formula1 also filed crypto and NFT-related trademark applications. Hermès, the luxury house brand, also submitted a trademark application to provide NFTs, crypto, and metaverse products on the metaverse.
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