South Korean musical platform will protect copyright with NFT – Bits Media

The South Korean musical platform Koong World received a patent for the use of blockchain and non -deposited tokens (NFT) To protect copyright.

According to the local publication FN News, The Korean Intellectual Property Office registered Koong World Patent under the number 1023882330000, Which describes the “Method of providing services for a music platform using NFT based on blockchain”.

"This patent marks the beginning of a full -fledged copyright protection in the developing musical market", -said the general director of Koong World Kim Han-Jjo (Kim han-jo).

Platform users can directly exchange music, At the same time 80% income is distributed between the authors of the works. Traditional platforms in South Korea are often criticized for that, that the authors get only 20% From income, And in the wallet of the platforms goes to 35%.

The creation of the NFT market for Koong World will be engaged in the development developer on the NIA Labs blockchain.

In February it was reported, that pop star John Stevens (John Roger Stephens), known as John Ledden, Launch the "Oursong" platform, with which musicians and artists will be able to create NFT and monetize their work.