Ava Labs, the company that created the layer-1 Avalanche blockchain, is using its technology to provide intellectual property management solutions for South Korean K-pop musicians. As the K-pop business is expected to reach a $20 billion valuation by 2031, including ticket sales, sponsorship deals, and merchandising, blockchain might play a critical role in ensuring artists are fairly compensated.
Ava Labs and K-POP?
In an interview with DL News, Justin Kim, the head of Ava Labs in South Korea, underlined the importance of artist protection. He emphasized how blockchain technology may provide unprecedented transparency and efficiency, addressing the long-standing issues of underpayment by recording companies and misreporting of ticket sales by venues and ticket processors.
The significance of digital rights management has expanded in the twenty-first century. Artists today confront the combined difficulty of protecting their works from both classic copyright infringement and illegal use by AI programs that search the internet for content.
Platforms such as Overlai are addressing this issue by inserting invisible watermarks in image and video information, which are subsequently stored on the blockchain. This generates an immutable and irrefutable record of ownership, while also allowing visual content creators to opt out of AI scraping.
Blockchain for Intellectual Property
Blockchain technology is not just used in the visual arts to handle intellectual property. Earlier this year, Cointelegraph interviewed Audius founders Roneil Rumburg and Forrest Browning on how blockchain could transform music IP management.
Audius, a decentralized music streaming and IP management platform, allows recording artists to handle their intellectual property using Web3 capabilities without having to comprehend technical on-chain physics. Audius, like Overlai, gives options for artists to choose whether or not to use AI scraping.
Ava Labs and Others Seek to Bring Revolution
Notably, industry legends have already begun to use blockchain for their creative activities. Ghostface Killah of the Wu-Tang Clan published original music with a Bitcoin Ordinals inscription, granting holders a Creative Commons license that permits them to sample or modify the music.
Similarly, the heavy metal band Megadeth created and distributed non-fungible tokens (NFTs) to enable exclusive experiences, such as one-on-one meetings with band members, demonstrating a compelling use case for blockchain in the music business.
As Ava Labs introduces blockchain technologies to the K-pop business, the potential for better intellectual property management and artist pay becomes more apparent. K-pop musicians can use blockchain technology to secure and commercialize their creations, paving the door for a more equal and transparent music industry.
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