An NFT Music Theft Prevention Patent Was Filed by a South Korean Music Sharing Platform
- Koong World, a South Korean music sharing platform, registered an NFT-based music theft prevention patent.
- The patent solves the problem of copyright protection issues.
A peer-to-peer music platform in South Korea called the Koong World did something different by registering an anti-music theft patent. It was filed with the Korean Intellectual Property Office.
The Patent is said to solve the issue of copyright infringement in the industry. The patent was registered less than a year of the platform's launch. The platform now has over 2 million users and over 40,000 registered songs since its launch in 2021.
A patent to tackle NFT-based music theft
Koong World received a patent registration on April 14, 2021. The patent is said to be for “a method of providing services performed on a server of a music platform using blockchain-based NFT.”
Kim Han-jo, the chairman of Koong World, also explained the use of the patent and how it will help artists in protecting their works.
“Based on this patent, we are providing an opportunity to solve the problem of copyright protection in the rapidly growing music market, and at the same time apply digital certificates to all products in e-commerce, which has become a problem in online product transactions. We plan to release technology to resolve the counterfeit controversy soon.”
According to the chairman, the patent will be a potential development in the ecosystem that will help utilize music and financial services and receive fair compensation.
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