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World Largest Music Company Files Trademark Application for NFT-Authenticated Music

08-Sep-2022 By: Ashish Sarswat
World Largest Music

Sony Music Entertainment has expressed its desire for using non-fungible tokens (NFTs) after filing a trademark application covering music and artists under the Columbia Records name.

According to a trademark application filed on August 30 with the United States Patent and Trademark Office (USPTO) and shared on September 6 by trademark attorney Mike Kondoudis, the application covers audio and video recordings of live musical performances validated by NFTs.

The application also includes marketing services, promotion, distribution, marketing, advertising, and online entertainment, such as podcasts and video recordings. The new trademark application follows a number of other Sony Music-backed NFT ventures.

In August, MakersPlace, an NFT market dedicated to digital art, received $30 million in Series A funding from several significant firms. The companies participating in the funding round include Pantera Capital, Bessemer Venture Partners, Coinbase Ventures, and Sony Music Entertainment.

The music company announced a partnership with Solana-based NFT marketplace Snowcrash and fellow music behemoth Universal Music Group in March to release Bob Dylan and Miles Davis NFT collections in 2022, with plans for additional collections to release in the near future.

NFTs and the Metaverse are gradually gaining traction in the music and entertainment industries.

On August 29, MTV's Video Music Awards heavily featured online and virtual performances. The event includes Eminem and Snoop Dogg performing their new single in a Metaverse created by Yuga Labs (same company behind the Bored Ape Yacht Club).

This year, MTV's Video Music Awards added a new award category, Best Metaverse Performance. In its first year, the award featured nominations for six different artists, including Ariana Grande, Justin Bieber, Charli XCX, Twenty-One Pilots, BTS, and Blackpink, who eventually won.

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