Sony Music Plans to Release NFT-backed Music Based on Trademark Application

Sony Music, among the largest music labels in the music industry, has filed for a trademark application as it plans to release NFTs. It filed a trademark application with the United States Patent and Trademark Office (USPTO) on August 30 according to trademark attorney Mike Kondoudis. “#SonyMusic has filed a trademark application for the Columbia Records logo claiming plans to use it for:  NFT Backed Media, Music + Podcast Production, Artist Management + Music distribution services ..and more!” Kondoudis revealed earlier this week through his Twitter account.

The trademark application covers music and artists under the Columbia Records logo, as well as their “audio and video recordings featuring live musical performances authenticated by NFTs.” Moreover, it also includes marketing services, promotion, distribution, marketing, advertising, and online entertainment such as podcasts.

This development comes after Sony Music backed several NFT projects in recent months. NFT digital art marketplace MakersPlace recently closed $30 million in a Series A financing round participated by Sony Music Entertainment. Among the other firms that invested in the platform consist of Pantera Capital, Bessemer Venture Partners, and Coinbase Ventures.

In March, Sony Music also partnered with Solana-based NFT marketplace Snowcrash and Universal Music Group. This partnership aims to release an NFT collection within the year featuring music icons Bob Dylan and Miles Davis. Apart from Sony Music’s recent move, the music industry has slowly been deepening its roots in Web3.

During the recent MTV Video Music Awards, prominent rappers Eminen and Snoop Dogg performed their single “From the D 2 The LBC” in a metaverse created by YugaLabs. MTV also introduced a new award category which was “Best in Metaverse Performance” with six nominated artists. Kpop group Blackpink eventually won the award for “BLACKPINK The Virtual | PUBG.”

Source: CoinTelegraph