RIAA chairman Mitch Glazier is the latest music industry executive to warn NFT startups about using music or related assets without permission. “Consumers need to be protected and basic legal rules of the road — like copyright, trademark, protection of name, image and likeness, and fair competition – must be followed,” wrote Glazier in a guest column for Variety.
He warned of “a rash of NFTs associated with popular artists or their songs being offered to the public apparently without the artist’s or copyright holder’s knowledge, involvement, or permission”, adding: “These services have raked in profits that are going… well, we don’t really know where that money has gone, but there’s no sign it’s reaching the artists and songwriters who created the music powering these NFTs.”
Glazier’s warning comes shortly after last week’s IFPI Global Music Report launch, during which Sony Music executive Dennis Kooker said of NFTs and web3 more generally that “some of the attitudes and behaviours we see in these emerging areas remind me of the Napster era. Already we’ve seen a couple of instances where you can imagine piracy and consumer fraud on a mass-market level”.