Sony Music Files Trademark Application For NFTs
Sony Music Entertainment owns multiple music labels including Columbia Records. The company filed a trademark application for the use of the Columbia Records logo for many NFT related releases.
NFTs will be used to authenticate downloads of audio and audiovisual recordings authenticated by NFTs. Downloadables will include podcasts, music videos, live performances, and album related artwork.
The trademark will also allow Sony Music to use the logo for marketing, promotional, and music/podcast production purposes.
Some artists signed to Sony Music include Wu Tang Clan, Ozzy Osbourne, and DJ Khaled. The company also inked a deal with The Prince Estate for the rights for the albums released from 1995 through 2010.
South Korean electronics manufacturer, LG, launched its own NFT marketplace called “LG Art Labs” a few days ago. The marketplace is available through LG televisions running webOS 5.0. The marketplace allows users to buy, sell, and trade NFTs right on their couch.
Wallypto, LG’s in-app crypto wallet developed by the Hedera network last September, handles transactions on the app.
“Wallypto, built on Hedera, has been developing since September 2021,” Chris Jo, senior vice president, head of platform business at LG Electronics home entertainment company, told TechCrunch. “Its beta version of the wallet launched this week in August.”
The partnership between LG and Hedra was announced in 2020 when LG joined the Hedera governing council, including industry giants such as IBM and Google.
