A South Korean track sharing platform, Koong Global, lately introduced the registration of a non-fungible token (NFT)-based track robbery prevention patent. The usage of this patent, the track sharing platform objectives to “clear up the issue of copyright coverage within the impulsively rising track marketplace.” Tackling the Drawback of Copyright Infringement within the Song Trade A South Korean […]
A South Korean track sharing platform, Koong Global, lately introduced the registration of a non-fungible token (NFT)-based track robbery prevention patent. The usage of this patent, the track sharing platform objectives to “clear up the issue of copyright coverage within the impulsively rising track marketplace.”
Tackling the Drawback of Copyright Infringement within the Song Trade
A South Korean peer-to-peer track sharing platform, Koong Global, lately registered an anti-music robbery patent with the Korean Highbrow Belongings Administrative center, a record has stated. Kung Global says the patent will allow it to unravel the problem of copyright infringement within the track business.
The registration of the patent comes lower than a yr after the release of the music-sharing platform itself. Since its release in 2021, the platform now boasts over 2 million contributors and over 40,000 registered songs.
In line with a report by way of Forkast, Koong Global was once awarded a patent registration by way of the Korean Highbrow Belongings Administrative center on April 14, 2021. Any other record by way of FN Information stated the patent is for “one way of offering products and services carried out on a server of a track platform the usage of blockchain-based NFT.”
Construction of an Open Ecosystem
In his feedback following the registration of the patent, Kim Han-jo, the chairman of Koong Global, explained how the patent is helping artists give protection to their highbrow belongings. The chairman stated:
In accordance with this patent, we’re offering a chance to unravel the issue of copyright coverage within the impulsively rising track marketplace, and on the similar time observe virtual certificate to all merchandise in e-commerce, which has turn into an issue in on-line product transactions. We plan to free up a era to unravel the counterfeit controversy quickly.
The chairman additionally hinted that the luck of the patent hinges at the building of an open ecosystem that “makes use of all on-line merchandise together with track and fiscal products and services, and obtain truthful repayment.”
The record stated Koong Global’s NFT patent, which has been described as the primary of its sort, is anticipated to assist “ensure” earnings that accrue to track creators.
What are your ideas in this tale? Let us know what you suppose within the feedback phase underneath.
