Sony Music Entertainment might want to enter the non-fungible token market (NFTs). The organisation, founded in 1929, aims to unite the NFT sector with the world of artists and music. A trademark application for "audio and video recordings including live musical performances certified by NFTs" has been submitted by the American music industry behemoth. A number of music stars, like Snoop Dogg, Justin Bieber, and Madonna, among others, seem to be promoting the NFT sector on a global scale.
For usage on NFT-backed material, Sony has submitted a trademark registration for the Columbia Records logo.
However, trademark lawyer Mike Kondoudis has posted screenshots of the company's registrations on Twitter although Sony has not yet disclosed its NFT-related plans.
The application also requests the necessary approvals for online entertainment, distribution, marketing, and advertising services.
This Sony patent application joins a long list of others that have already been submitted by businesses looking to investigate the NFT market this year.
This year, so far, number of NFT applications have surpassed those submitted in the crypto, Web3, and metaverse arenas.
By this time, over 5,800 petitions and patents concerning NFTs have already made it to the United States Patent and Trademark Office (USPTO) (USPTO). This number was 2,087 in 2021.
Sony Music has been gaining ground in the market for virtual goods.
To distribute Bob Dylan and Miles Davis NFT collections sometime in 2022, the music corporation teamed up with NFT marketplace Snowcrash, based in Solana, and competitor Universal Music Group.
