Universal Music Group submits a trademark application involving NFT

According to reports, according to the official website of the United States Patent and Trademark Office, Universal Music GmbH has submitted two US trademark applications to the United States Patent and Trademark Office for music related virtual and digital goods that have passed the NFT certification, including non downloadable and downloadable virtual digital goods, that is, multimedia, images, videos, music, and audio files in the field of music and music related entertainment that have passed the NFT certification; Non downloadable virtual and digital goods related to music artists, groups, celebrities, fashion leaders, influential people, record companies, and entertainment programs.

Interpretation of this information:

Universal Music GmbH, one of the largest music labels in the world, has filed two trademark applications with the United States Patent and Trademark Office (USPTO) for music-related virtual and digital goods that have passed NFT certification. NFTs (non-fungible tokens) have become increasingly popular in the art and music industries as a way to authenticate ownership and establish digital scarcity of digital assets. The first application includes non-downloadable and downloadable virtual digital goods, such as multimedia, images, videos, music, and audio files in the field of music and music-related entertainment. These virtual and digital goods would be authenticated through NFT certification. The second application includes non-downloadable virtual and digital goods related to music artists, groups, celebrities, fashion leaders, influential people, record companies, and entertainment programs. These NFT-certified goods would be used to promote and market these entities.

The move by Universal Music GmbH to explore NFT-certified virtual goods is a sign of the music industry’s shift toward exploring new digital revenue streams. NFTs allow artists and labels to monetize their digital assets in a way that was previously not possible. By creating unique digital assets that are authenticated through NFT certification, artists and labels can create scarcity and value for their virtual goods. This move also suggests that Universal Music GmbH recognizes the importance of NFTs and is positioning itself as a leader in exploring these new digital business models.