The AI platform “Licensing and Protection” known as Vermillio has successfully raised $16 million in a Series A funding round led by Sony Music Entertainment and DNS Capital.
On Monday (March 3), Vermillio announced plans to utilize these funds for scaling its operations and continuing “to create solutions for the generative Internet, allowing talents, studios, recording artists, and more to protect and monetize their content.”
Sony Music had previously collaborated with VermillioO Jurked with entrepreneur Dan Nily in a project with Ball and David Gilmore through Legacy Recordings, allowing fans to remix their albums and create original artworks.
Reports indicate that Nily, who recently featured in a list of the 100 most influential figures in AI, played a pivotal role in guiding the introduction of legislation on reliable fakes.
Comments from Industry Leaders
Commenting on the funding round, Dennis Kuker, President of Global Digital Business at Sony Music Entertainment, stated: “Sony Music is focused on cultivating responsible forms of generative artificial technologies that enhance the creative potential of our talents, safeguard their work, engage fans, and create new commercial opportunities.”
“Sony Music is committed to developing responsible generative applications of artificial intelligence that boost the creative potential and objectives of our talents, protect their work, excite fans, and create new commercial capabilities.”
Dennis Kuker, Sony Music Entertainment
Kuker further added: “Dan Nily and the team at Vermillio align with our vision, prioritizing proper attribution and fair compensation for creators, which is essential for unlocking monetization opportunities in this space.
“We look forward to expanding our successful partnership, as we strive to support the growth of trusted platforms that allow safe uses of artificial intelligence, benefitting technological innovators, artists, and rights holders.”
Innovative Solutions for IP Protection
Vermillio asserts that it is the first AI platform that “reliably licenses IP, enabling IP-holders and talents to safely engage with generative artificial intelligence technologies.”
This is achieved through Traceid, a protection and third-party attribution tool that, according to Vermillio, “allows talents and IP owners to harness the benefits of generative AI while maintaining safe control over their data and AI rights.”
According to Vermillio, Traceid “provides the ability to manage the terms and rights to usage, opening up new revenue streams made possible by generative AI.”
Vermillio indicated that its team developed Traceid to “address key issues related to consent, attribution, and compensation in the context of generative AI.”
The Monday announcement highlighted that Vermillio is set to establish its first partnership with the WME Talents Agency in 2024, aimed at protecting their clients from IP theft and providing monetization avenues for their name, image, and likeness, all through reliable data licensing.
Additionally, to showcase the “unique opportunities that authenticated AI with Traceid presents,” Vermillio launched Spider-Verse AI, a collaboration with Sony Pictures that enables fans to create unique digital versions of themselves in the style of the Spider-Verse animation.
Vermillio claims that each of the 1.5 million unique fan identities generated during this project was monitored via Traceid, ensuring the ability to trace the source of filmmakers.
“We are setting a new standard for the licensing of artificial intelligence—one that actively guarantees consent, attribution, and compensation for innovative opportunities.”
Dan Nily, Vermillio
“We are establishing a new standard for licensing artificial intelligence that actively ensures consent, attribution, and compensation for innovative opportunities,” stated Dan Nily, co-founder and CEO of Vermillio.
“With the support of an innovative leader like Sony Music, Vermillio will continue to develop our products, ensuring the ethical and reliable use of generative AI.
“At this pivotal moment in shaping the future of AI and how platforms are held accountable, we take pride in safeguarding the most cherished content and talents globally.”
Lucas focuses on the interaction between music and society. He specializes in how music influences and reflects cultures, analyzing the role of sound in social, political, and cultural events around the world.
