In this week’s newsletter, read about how Sony Music Entertainment is preparing to venture into nonfungible tokens (NFTs). Check out how car manufacturer Ford is on the way to entering the Metaverse and how coffee chain Starbucks plans to launch NFT rewards through a program called Starbucks Odyssey.
In other news, learn about how the Japanese government used NFTs to reward public servants who excelled in using digital technology to provide local solutions. And, don’t forget about this week’s Nifty News roundup focussing a little league baseball card featuring Meta founder Mark Zuckerberg.
Sony Music files trademark application for NFT-authenticated music
Sony Music Entertainment showed interest in NFTs by applying for trademarks that cover music and artists under Columbia Records, a label owned by Sony Music. Trademark attorney Mike Kondoudis announced that the application covers both audio and video recordings that feature live performances.
According to Kondoudis, the company plans to use the trademark for NFT-backed media, music and podcast production and artist management and music distribution services. Apart from this, the application also includes marketing, advertising and distribution for podcasts and audio-visual recordings.
Ford prepares to enter the Metaverse with virtual automobiles and NFTs
Car manufacturer Ford Motor Company is making its preparations for the Metaverse and NFTs. The car company filed 19 major trademark applications across its car brands. The applications cover various products such as Mustang, Escape, Expedition and F-150 Lightning.
The company also plans to create downloadable digital goods like vehicle parts. Apart from this, the car manufacturer showed that they may be planning to create a marketplace that features various NFTs and digital collectibles.
Starbucks announces new NFT experience for coffee members
Coffee chain Starbucks said that it will let its members in the United States have the chance to purchase and earn digital stamp NFTs with its Starbucks Odyssey. The stamps will allow them access to unique experiences as they collect more points.
The rewards could range from receiving a virtual coffee-making class to getting access to exclusive Starbucks events like trips to the company’s coffee farm in Costa Rica. The NFTs can be acquired by playing coffee-themed games or accepting challenges on Starbucks Odyssey, which will be launched later in 2022.
Japanese gov’t issues NFTs to reward local authorities’ work
Apart from companies, governments are also jumping into NFTs. To express its appreciation for the work of its public servants, the Japanese government issued NFTs as a reward for seven mayors who were recognized at the Summer Digi Denkoshien 2022 ceremony.
The rewards were given to those who had excelled in using digital technology to provide solutions to local problems, such as suggesting the use of electric vehicles for deliveries and a platform that uses cameras on mobile devices to track traffic changes.
Nifty News: Shitposters set for $DRAMA rewards, Zuck’s little league card tokenize and more…
Meta chairman Mark Zuckerberg’s little league baseball card is set to be auctioned through a digital collectibles platform. The card features an eight-year-old Zuckerberg in a baseball uniform holding a baseball bat. While the card features the Meta executive, the auction is not sanctioned by Zuckerberg.
Meanwhile, luxury car manufacturer Lamborghini is rolling out the second batch of NFTs that offers some utility for collectors. Those who are able to collect three regular-tier NFTs this month will have access to a rare drop ahead of other users.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.