Sony will start using blockchain technology and NFT tokens

Sony Music Entertainment, the world’s second largest recording company, has announced its intention to use blockchain technologies and NFT tokens — Sony representatives have applied for registration of a trademark related to blockchain and non-fungible tokens.

#SonyMusic has filed a trademark application for the Columbia Records logo claiming plans to use it for:
▶️ NFT Backed Media
▶️ Music + Podcast Production
▶️ Artist Management + Music distribution services
.and more!#NFTs #Metaverse #Web3 #Columbiarecords #Pop #Rock #Hiphop pic.twitter.com/xY7kRMgo1m

— Mike Kondoudis (@KondoudisLaw) September 6, 2022

Sony Music Entertainment’s plans were announced by lawyer Michael Kondoudis on Twitter. Kondoudis emphasized that the company’s blockchain-related activities will include marketing services, advertising, podcasts, music, and music videos.

Sony is not the only corporation planning to use non-fungible tokens, as in July, Michael Kondoudis said that LG representatives had applied for registration of a new LG ART LAB trademark, all in order to launch TV software for creating, trading, and storing NFTs in the future.

At the end of June, Sony, Meta, Microsoft, Unity, and more than 30 other large companies announced the unification of Metaverse Standards Forum to develop a global strategy for the development of virtual reality. The business giants emphasized that one of the main goals of the association is to ensure that the development of metaverse is managed jointly by the companies and there is no «dominant party».