Sony Music Entertainment has indicated intentions to utilize NFTs after filing a trademark application covering music and artists under the Columbia Records logo. The application covers audio and video recordings featuring live musical performances authenticated by NFTs.
The application also covers marketing services, promotion, distribution, marketing, advertising and online entertainment, including podcasts and audiovisual recordings. The new trademark application comes in the wake of several other Sony Music-backed NFT projects.
MakersPlace an NFT market dedicated to digital art, secured $30 million in Series A financing from several notable companies, including Pantera Capital, Bessemer Venture Partners, Coinbase Ventures and Sony Music Entertainment.
March saw the music company partner with Solana-based NFT marketplace Snowcrash and fellow music behemoth Universal Music Group to release Bob Dylan and Miles Davis NFT collections at some point in 2022, with plans for more in the future. NFTs and the Metaverse are slowly becoming more prominent in the music and entertainment industry.
