As previously reported on Coinscreed, applications for NFTs, Web3, and metaverse have surged in 2022 than in 2021, American music giant Sony Music Entertainment has joined the numbers and indicated plans to use non-fungible tokens (NFTs).
According to a trademark application submitted to the USPTO on August 30 covering “audio and video recordings incorporating live musical performances certified by NFTs,” Mike Kondoudis posted the application on September 6.
The application also covers internet entertainment, including podcasts and audiovisual recordings, marketing services, promotion, distribution, marketing, and advertising.
The latest trademark registration follows a number of earlier NFT initiatives supported by Sony Music.
An NFT market for digital art called MakersPlace received $30 million in Series A funding in August from a number of well-known businesses, including Pantera Capital, Bessemer Venture Partners, Coinbase Ventures, and Sony Music Entertainment.
The music label partnered in March with Universal Music Group and NFT marketplace Snowcrash, both of which are based in Solana, to issue NFT collections for Miles Davis and Bob Dylan sometime in 2022. Additional releases are also being planned.
The music and entertainment industries are slowly embracing NFTs and the Metaverse.
Eminem and Snoop Dogg performed their brand-new hit in a Metaverse developed by Yuga Labs, the same firm that created the Bored Ape Yacht Club, during the MTV Video Music Awards on August 29.
Eminem and Snoop Dogg’s avatars from the Bored Ape Yacht Club are used in the song “From the D to the LBC,” which was released in June.
The Best Metaverse Performance award was a new one introduced by MTV’s Video Music Awards. It received nominations from six different acts in its first year, including Ariana Grande, Justin Bieber, Charli XCX, Twenty One Pilots, BTS, and Blackpink, who went on to win.