New Music Industry Takedown Service Targets NFT and ‘Metaverse’ Piracy
Italian anti-piracy group Digital Content Protection has launched a new service that helps rightsholders to police NFT platforms, Web 3.0 projects, and metaverse precursors. The company, which works with major music industry partners including Sony, Universal and Warner, stresses that there are large financial interests at stake.
There’s a market for pretty much anything digital today and ‘collectables’ in particular sell like hot cakes.
The non-fungible token (NFT) rage shows that people are willing to pay vast amounts of money for a digital gimmick, that may or may not retain its value.
These digital entries, stored on a blockchain, allow the buyers to prove that they are legitimate ‘owners’ to some underlying asset. While it’s different from a copyright, NFTs owners are rightsholders in a sense, although the specifics may vary from project to project.
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