A music platform will use NFTs to prevent copyright infringement.

26th April, 2022

South Korean music platform Koong World received a patent that utilizes NFTs as a way to protect copyright infringement.

The music platform received the patent on 14th April for “service providing method performing server of music platform using NFT based on blockchain.”

The South Korean peer-to-peer music trading platform currently distributes only 80% of revenue as royalty payments to artists.

The South Korean music platform also signed a deal with the blockchain developer Nia Labs last year to build NFT marketplace services for its platform.

This move could set an example for other major music platforms to use NFTs to prevent copyright infringement.

Earlier, LimeWire raised $10.4 million in a private token sale to build a platform for music-focused NFTs.

Steve Aoki, Snoop Dogg, and Mike Casey are among the top music artists who are already leveraging NFTs to sell their music.