Sony Music filed trademarks for metaverse and non-fungible tokens, which have been generating a lot of hype lately. It is speculated that the company wishes to dive into the million-dollar NFT industry. Per reports, the music giant intends to launch live music performances and downloadable audio and video recordings through digital tokens. There were two filings, the first one relates to the recording, and the second one includes marketing and entertainment services for the artists.
The trademark is filed for Columbia Records, whereby the firm plans to utilize myriads of services they can use to entertain audiences. The application submitted by Sony Music revealed that non-fungible tokens would authenticate audio, video recording and even live performances.
NFTs, since their inception, have formed a remarkable place across a wide array of industries like entertainment, music and many others. If we study NFTs’ popularity, it won’t be wrong to say its impact is felt mainly in the music industry. Music NFTs eliminated third-party vendors from sharing music which allowed artists to get ownership of their tracks.
Top musicians like Kings of Leon or famous music band Muse ventured into the NFT space, and the fans wholeheartedly accepted music in the form of non-fungible tokens.
Like many other music bands, singers and firms, Sony Music has also realized the rising popularity of NFT music and how it has the potential to break barriers between fans and artists.
Sony’s new venture can be called a great move to monetize their work and help the artists own rights over their songs. We hope the music giant’s plan helps fans experience innovative projects that connect them directly to their favorite artists. The music fraternity and the music lovers are excited and eagerly waiting for this pathbreaking initiative.