After filing a trademark application under the Columbia Records logo, Sony Music Entertainment wants to use NFTs. The application covers audio and video recordings featuring live musical performances authenticated by non-fungible tokens. It also covers marketing services, promotion, distribution, marketing, advertising, and online entertainment. This includes podcasts and audiovisual recordings.
Sony has backed several NFT projects. An NFT market, MakersPlace, dedicated to digital art secured $30 million in Series A funding in August from notable companies including Pantera Capital, Coinbase Ventures, Sony Music Entertainment, and Bessemer Venture Partners. In March, Sony collaborated with Solana-based NFT marketplace Snowcrash and Universal Music Group to release Bob Dylan and Miles Davis NFT collections. It has more such plans for the near future.
Musicians have also shown interest in NFTs and the metaverse. Muse, a Devon-based English rock band, released its ninth album “Will of the People” as an NFT album. It was distributed as Digital Pressing, an individual, chart-eligible digital release. OneOf, an NFT marketplace, partnered with The Christopher Wallace Estate to create American rapper Biggie Smalls’ NFT collection.
Eminem and Snoop Dogg hosted a metaverse-inspired performance on MTV’s Video Music Awards on August 29. Yuga Labs Metaverse partially broadcasted the performance; it included the artist’s Bored Ape Yacht Club NFTs. MTV introduced a new category called “Best Metaverse Performance”.