‘No NFT-Specific Legislation’ Required, US PTO and Copyright Office Study Concludes

A comprehensive 112-page study conducted jointly by the United States Patent and Trademark Office (USPTO) and the U.S. Copyright Office has determined that existing intellectual property laws are sufficient to address concerns regarding copyright and trademark infringement related to non-fungible tokens (NFTs).

Source: “No NFT-Specific Legislation Required, Current Copyright Laws Sufficient, U.S. Government Study Finds”

The bill that could ban TikTok passes in the House 

The House voted on Wednesday in favor of a bill to require TikTok to sever its connection with parent company ByteDance or face a ban, moving the legislation forward with surprising speed. President Joe Biden has already said that he would support the legislation, but TikTok faces an uncertain fate as the bill heads to the Senate. The bill received bipartisan backing with a 352-65 vote.

Source: The bill that could ban TikTok passes in the House | TechCrunch

TikTok’s parent ByteDance has locked down AI-music patents in the US

Two separate research papers from ByteDance’s Speech, Audio & Music Intelligence (SAMI) team – both published in recent months – highlight the company’s extensive work in the field of music generation. The division is currently hiring for multiple roles  – including an AI Product Operation Manager in San Jose, who will be responsible for “the implementation of audio and music AI technologies in TikTok”.

Source: TikTok’s parent ByteDance has locked down AI-music patents in the US – as its researchers develop a model trained on 257,000 hours of songs

London Book Fair Attracts Hollywood Execs as Adaptation Craze Continues

This year’s Oscars were as much a celebration of books as they were cinema. Five of the 10 best picture nominees were based on books, and three of those – “Oppenheimer,” “Poor Things” and “The Zone of Interest” – took home the most statues overall. Which is why many of those partying in L.A. on Sunday night boarded planes across the Atlantic days later bound for the London Book Fair, in search of their next Oscar-contending project.

Source: London Book Fair Attracts Hollywood Producers and Execs as Adaptation Craze Continues: ‘IP Supercharges the Conversation’

SXSW Audiences Loudly Boo Festival Videos Touting the Virtues of AI

Conversations about the future of artificial intelligence can be found all over SXSW this year — and not all of the festival’s attendees are thrilled with the idea. Specifically, the film and TV fans catching screenings of world premieres including “The Fall Guy” and “Immaculate” made their AI displeasure loud and clear on Tuesday at the Paramount Theatre in Austin.

Source: SXSW Audiences Loudly Boo Festival Videos Touting the Virtues of AI

Why Are Songs by Some UMG Artists Available on TikTok, Despite Ban?

The standoff between Universal Music Group and TikTok over royalty payments and AI policies has resulted in a near-complete blackout of all music owned, distributed and published by the company on the platform — the videos are still there, but the music is muted. Yet new songs by UMG artists, including Ariana Grande, Camila Cabello and Niall Horan could be found on TikTok at the time of this article’s publication.

Source: Why Are Songs by Ariana Grande, Camila Cabello and Other Universal Music Artists Available on TikTok, Despite Ban?

European Union Passes ‘World First’ AI Legislation 

Sweeping new laws regulating the use of artificial intelligence (AI) in Europe, including controls around the use of copyrighted [works], have been approved by the European Parliament, following fierce lobbying from both the tech and music communities. Members of the European Parliament (MEPs) voted in favor of the EU’s Artificial Intelligence Act by a clear majority of 523 votes for, 46 against and 49 abstentions.

Source: European Union Passes ‘World First’ AI Legislation That Would Safeguard Copyrighted Music

Possible TikTok Bidder Emerges As Forced Sale Bill Draws Support

As a TikTok forced sale bill rides bipartisan support into a House vote, a possible bidder has emerged in former Activision CEO Bobby Kotick. Word of Kotick’s rumored interest in scooping up TikTok’s stateside operation entered the media spotlight in a Wall Street Journal report. But at the time of this writing, neither the exec nor ByteDance seemed to have commented publicly on the matter.

Source: Possible TikTok Bidder Emerges As Forced Sale Bill Draws Support

Is TikTok Getting Banned? White House Says Biden Will Sign Bill

The White House says President Biden will support the bill currently in Congress that would effectively ban TikTok, the short-form video app owned by Chinese company ByteDance, in the United States. The bipartisan legislation would require ByteDance to sell TikTok over national security concerns surrounding the way the app stores and uses data, in order to remain operational in the United States.

Source: Is TikTok Getting Banned? White House Says Biden Will Sign Bill

Reddit’s planned IPO share price seems high, unless you look at its AI revenue

If investors agree to pay its high-end range, Reddit’s valuation should hit around $5.4 billion. Given that Reddit is an unprofitable, long-established social media company, and one that depends on advertising, that feels a tad expensive. Unprofitable Snap, for example, is currently worth 4.34x its revenues while highly profitable Meta is worth 9.86x. Reddit’s game plan for AI is one good reason why it’s pricing its shares closer to Meta than Snap.

Source: Reddit’s planned IPO share price seems high, unless you look at its AI revenue | TechCrunch

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