Sony Music Entertainment has indicated its intention to use non-fungible tokens (NFTs) after filing a trademark application for music and artists using the Columbia Records logo.
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 featuring live musical performances authenticated by NFTs.”
#SonyMusic has applied for a trademark for the Columbia Records logo, claiming that it will be used for: NFT Backed Media Music + Podcast Production Artist Management + Music Distribution Services…and more!
#NFTs #Web3 #Columbiarecords #Pop #Rock #Hiphop pic.twitter.com/xY7kRMgo1m
Kondoudis, Mike (@KondoudisLaw) 6 September 2022
Marketing services, promotion, distribution, marketing, advertising, and online entertainment, including podcasts and audiovisual recordings, are also covered by the application.
The new trademark application follows a number of other Sony Music-backed NFT projects.
MakersPlace, an NFT market dedicated to digital art, received $30 million in Series A funding in August from a group of notable investors that included 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 more in the future.
NFTs and the Metaverse are gradually gaining traction in the music and entertainment industries.
On August 29, MTV’s Video Music Awards featured many online and virtual performances, including Eminem and Snoop Dogg performing their new single in a Yuga Labs Metaverse, creators of the Bored Ape Yacht Club.
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The song “From the D to the LBC” was released in June and features Eminem and Snoop Dogg’s Bored Ape Yacht Club avatars.
MTV’s Video Music Awards also debuted a new award category, Best Metaverse Performance, in its first year, with nominations for six different acts, including Ariana Grande, Justin Bieber, Charli XCX, Twenty One Pilots, BTS, and Blackpink, who eventually won.