Italian Copyright Agency Selects Algorand to Create Over Four Million NFTs to Represent Author Rights
The non-fungible token fever witnessed over the last few months is catching the copyright management agencies’ attention. One of them, located in Italy, has chosen a blockchain company to create its own NFTs. SIAE Expects to Guarantee Copyright Protection With NFTs for the Next 139 Years According to the announcement , Società Italiana degli Autori ed Editori (SIAE), founded in 1883, picked Algorand to manage the rights of over 95,000 authors in the form of non-fungible tokens. Both parties had been working on the project since 2019, said Algorand. In a first instance, 4 million NFTs were created to represent selected SIAE authors’ rights. Per SIAE, by digitizing these rights on blockchain technology, authors could ensure that their copyrights are globally protected on a transparent, open infrastructure. Gaetano Blandini, the general manager of SIAE, pointed out that the move seeks to guarantee protection for the next 139 years. He added: We are not interested in building techno