Ava Labs, the company behind the Avalanche blockchain, is utilizing its network to offer intellectual property management solutions to South Korean K-pop artists. The K-pop industry is forecasted to reach a $20 billion valuation by 2031, encompassing ticket sales, sponsorships, and merchandising. Justin Kim of Ava Labs in South Korea highlighted the necessity for artist protections and how blockchain technology can provide transparency and efficiency. This issue extends to live music events, where venues and ticket companies may underreport sales, impacting artist earnings. Protecting intellectual property rights is crucial in the digital age, with blockchain solutions like Overlai embedding invisible watermarks in visual content metadata. Audius, a decentralized music platform, empowers artists to manage their IP using Web3 tools. Notably, musicians like Ghostface Killah and Megadeth are exploring blockchain's potential by releasing NFTs for unique fan experiences. Read more AI-generated news on: https://app.chaingpt.org/news
