"Story Protocol Tokenizes Maroon 5 and Katy Perry Hits, Entering IP Sector"

Coin WorldTuesday, Mar 4, 2025 8:41 am ET

1min read

Story Protocol, a blockchain-based platform, has recently announced the acquisition and tokenization of partial copyrights for two hit songs, "Nobody's Love" by Maroon 5 and "Daisies" by Katy Perry. This move is part of a broader strategy to enter the intellectual property (IP) sector and bring investment opportunities to the music copyright sector.

The choice of Maroon 5 and Katy Perry is likely due to their status as top-tier artists with massive fan bases. Maroon 5 has won three Grammy Awards and sold over 135 million records worldwide, while Katy Perry has sold over 100 million records, with multiple diamond-certified singles. Both "Nobody's Love" and "Daisies" have high streaming numbers, generating sustainable passive revenue. Tokenizing the copyright for these songs allows for the rights to be divided into digital tokens that investors can trade or hold.

Story Protocol's move aligns with the broader trend of tokenizing real-world assets (RWAs) in the music industry. According to CoinGecko data, the market capitalization of RWA-related projects stands at over $32 billion. Sergey Nazarov, Co-founder of Chainlink, sees a huge opportunity emerging from the DLT/Blockchain industry's ability to connect counterparties around various forms of RWA tokenization.

However, Story Protocol faces significant challenges in capturing this market. First, it is not the only RWA-focused project. Competitors like Ondo Finance (Ondo Chain), Centrifuge, and MakerDAO have already established a presence. Story Protocol is still relatively small and just recently launched its mainnet, meaning it must demonstrate unique advantages in the IP niche.

Second, tokenizing IP requires legal recognition from organizations like the World Intellectual Property Organization (WIPO) and compliance with the Berne Convention. Without overcoming these legal hurdles, Story Protocol may struggle to attract major IP holders.

Story Protocol's move to tokenize the copyrights of hit songs aligns with its broader strategy to enter the IP sector. However, success in this space will require proving its utility and overcoming legal and market adoption challenges.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.