Algorand helps secure almost 100,000 authors’ copyrights, NFTs raise breast cancer awareness, the New York Times gets in on the action, and more. Italian copyright collecting agency Società Italiana degli Autori ed Editori, SIAE, has minted more than four million NFTs on the Algorand blockchain to digitally represent the rights of more than 95,000 authors.
The partnership between SIAE and Algorand started in 2019, with SIAE aiming to digitize its entire copyright database to help decentralize the management of the metadata. NFTs will eventually provide copyright owners such as authors and publishers with royalty streams to their work.
The tokenization of the articles and published works will allow the system “to transfer management directly to rights holders, who will then be able to manage directly the metadata relating to their rights,” said general manager of SIAE Gaetano Blandini
“Blockchain technology is definitely an interesting strand to continue exploring because of its transparency and efficiency — by design — features, which are fundamental for those who, like us, manage the salary of other people’s hard work.”