Sony Music Entertainment has filed a trademark application for NFT-authenticated music, according to a document published by the European Union Trademark Office on Dec. 22. The filing was prompted by an earlier application that describes a “computer game software” called Crypto Singstar which allows users to play songs using virtual goods purchased with cryptocurrency. NFT stands for “non-fungible token.”
It’s essentially an asset that can be transferred from one person to another, like a digital representation of an object or physical good. In the case of Sony Music Entertainment’s trademark application, it’ll likely describe music files in unique formats with unique properties associated with them (like musical notes). These characteristics could include things like rights management information or even the artist’s signature on the track.
They are then stored on a blockchain network, which makes them secure and immutable—meaning they can’t be changed after creation.
Sony Music Dives In Crypto World
The application was published to the United States Patent and Trademark Office (USPTO) on Jan. 10, 2019, and is described as “non-fungible token authentication of music content including sound recordings and live performances”.
Non-fungible tokens (NFTs) are unique digital assets that can be used to represent physical or digital goods in blockchain ecosystems such as games, artworks and collectibles. This makes them ideal for representing works of art in a decentralized setting which eliminates centralized intermediaries from the process of selling artworks online. We’re excited to see where Sony goes with this. The company has been a leader in the music industry for decades and we hope they continue to innovate with their new technology.