Ayozat is a British media company that has recently signed a contract with Lumi AG, a copyright specialist. In this £38 million ($50 million) deal, as reported by the DailyMail, the company has secured the lucrative rights to thousands of famous songs. Now, music lovers from all over the world can earn royalties by part-owning these famous hits.
Tracks Included in the Deal
The deal secures 100,000 tracks. In these tracks, you can find a variety of songs by some of the greatest entertainers of all time, like Michael Jackson. The catalogue includes “Big Boy”, which is Michael Jackson’s debut song that he sang with the other members of the band Jackson 5.
MJ sang his first song when he was just nine years old. The song is going to be featured in an upcoming movie about the band. The copyright specialist, Lumi AG, acquired the Jackson 5 material from Steeltown Music Studio, that recorded the first album of Jackson 5 when the band manager Joe Jackson hired the studio in 1968.
Other singers whose work is included in this deal include Eminem, Bee Gees, Snoop Dogg, Sex Pistols, Luciano Pavorotti, Tupac, Whitney, and Usher. Music fans rarely get opportunities like this to earn royalties with songs sung by some of the world’s most famous musicians.
As the Jackson 5 songs are going to be revealed to the world once again in 2023, there is a high chance you can earn big money by investing in them. Users can buy copyrights of songs via the NFT-ownership platform Ayozat.
What is NFT, and How Does it Work?
NFTs (non-fungible tokens) are cryptographic tokens that cannot be replicated, says NYTimes. They represent real-world items such as music, in-game items, video, and gifs. They make it easier for people to buy or sell digital assets in a secure way.
They are built using the same blockchain technology as cryptocurrency. However, unlike cryptocurrencies, NFTs cannot be exchanged for one another (as they are non-fungible).
People interested in buying music in the form of NFT will first have to create a digital wallet (to keep NFTs and cryptos). Then, you will connect it to the NFT marketplace. Your wallet should also have the crypto that the NFT provider accepts.
NFT Copyright Laws
NFT copyright laws are similar to the copyright laws of any other traditional art piece. If a person creates an NFT, they automatically get its copyright. You will then have certain rights that others don’t have. The owner is legally allowed to make copies of the NFT and distribute them. He can also display the NFT in public.
If a non-copyright person tries to do the same, he can be fined for violating the law. You can create a copy of an NFT only if you have taken permission from its true owner.
Last Updated: April 18, 2022