Ava Labs brings intellectual property management to the K-pop industry
Ava Labs, the company behind the Layer-1 Avalanche blockchain, is using the network to provide intellectual property management solutions for South Korean K-pop artists.
According to a report from Allied Research, the K-pop industry is expected to reach a valuation of $20 billion by 2031—a figure that includes ticket sales, sponsorship deals and merchandise.
Justin Kim, head of Ava Labs in South Korea, spoke to DL News about the importance of artist protection and how blockchain technology can provide unparalleled transparency and efficiency to artists who are underpaid by record companies.
This problem extends to live music and events, where venues and ticketing companies can shortchange an artist's income by underreporting ticket sales — an age-old problem for gigging musicians.
Digital rights management and artists in the 21st century
Artists must fight to protect their creations from traditional copyright infringement and unauthorized use, and protecting intellectual property rights has taken on a new meaning as artificial intelligences scour the Internet for training content.
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Platforms like Overlai solve this problem for visual artists by embedding the metadata of images and videos with an invisible watermark. This watermark is recorded into the blockchain, forming an immutable and irrefutable record of ownership. Additionally, the software solution allows visual content creators to choose from AI scraping.
Earlier this year, Cointelegraph also interviewed Odius founders Roneil Rumburg and Forrest Browning to better understand how blockchain could change IP management for musicians.
The pair explained that Audius can build a decentralized music streaming and intellectual property management platform that can help artists manage their intellectual property with Audius Web3 tools, without exposing them to the technical onchain mechanics under the hood. Like Overlay, Odius offers tags to opt in or out of AI scraping.
Industry legends use blockchain
Earlier this year, Wu-Tang Clan's Ghostface Killah released original music featuring Bitcoin Ordinals. The ordinal mint includes a Creative Commons license that allows owners of the recordings to sample the music or modify it as they see fit.
The legendary heavy metal group Megadeth also issued and distributed imperishable tokens to demonstrate the use case for blockchain technology in the music industry to offer unique experiences such as one-on-one meet-and-greets with band members.
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