Sony, one of the leaders in American music entertainment, has indicated plans to deploy the non-fungible token (NFT) after completing a trademark application encompassing songs and artists that are represented by the Columbia Record Logo.
The trademark application, filed on August 30 to the USPTO, which lawyer Mike Kondoudis revealed on Tuesday, notes that the application discussed covers audio and video records, including live performances verified by NFTs. This application includes sections for internet entertainment, marketing services, production, promotion, and podcasts.
The latest trademark registration follows a number of earlier NFT initiatives supported by Sony Music. An NFT marketplace called MakerPlace, which focuses mainly on digital art, made a total of $30 million.
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This enormous cash was obtained through Series A funding from numerous respectable businesses, including Coinbase Ventures, Sony Music Entertainment, Pantera Capital, and a few others.
In the month of March, there was a collaboration between the music firm and the Solana-based NFT marketspace Snowcrash, as well as the well-known music industry giant, Universal Music Group. This partnership resulted in the release of the Bob Dylan and Miles Davis NFT compilation, with intentions to release more in the coming years.
NFTs and the Metaverse are gradually gaining traction in the music and entertainment sectors. The MTV Video Music Awards, which were held on August 29, had major elements of online and virtual performance, including a metaverse performance by Eminem and Snoop Dogg of their most recent singles. Other categories for awards include Best Metaverse Performance, which in its first year included performances by over 6 different acts, including Justin Beiber, Twenty-One Pilot, and others.
