Skip to main content

Napster Expands Into Web3 Music Space With Acquisition of Mint Songs

Napster Expands Into Web3 Music Space With Acquisition of Mint Songs

On Wednesday, Napster, the music streaming service originally launched in 1999, announced that the company has finalized a deal to acquire the Web3 music startup Mint Songs. Napster’s CEO, Jon Vlassopulos, insists that “we are in an unprecedented era of innovation in the digital music space,” and he believes Web3 innovations can help musicians find new ways to connect with their fans.

Napster Ventures Sets Its Sights on Web3 Music Startups

After its Hivemind and Algorand acquisition in May 2022, Napster has reignited its focus on the Web3 space by purchasing Mint Songs, a Web3 music startup. The startup had previously raised $4.3 million from firms including Freestyle Capital and Castle Island Ventures. The Mint Songs platform gives musicians the ability to mint non-fungible token (NFT) items and songs via the Polygon and Ethereum blockchains.

Mint Songs has worked with artists such as Gramatik, Black Dave, and Mark de Clive-Lowe to release exclusive non-fungible token (NFT) memorabilia. When Napster’s CEO, Jon Vlassopulos, joined the company last year, he revealed plans to acquire companies in the music and Web3 space. Napster announced on Wednesday that the acquisition of Mint Songs is the first of many with a focus on Web3 features and related services.

“We are in an unprecedented era of innovation in the digital music space and it feels like there have been more music startups formed in the last two to three years than in the previous 20,” Napster CEO Jon Vlassopulos said in a statement sent to Bitcoin.com News. “We are delighted to welcome one of the most impressive Web3 music startups, Mint Songs, as the newest member of the Napster family,” Vlassopulos added.

The exact value of the Mint Songs acquisition was not disclosed by Napster, and the deal was executed by Napster Ventures, a newly created subsidiary that aims to invest in the best Web3 music startups going forward.

“We are excited for Napster to be a central player in the music Web3 ecosystem, and acquiring Mint Songs is a great foundational step,” said Matt Zhang, founder and managing partner of Hivemind, in a statement. Napster believes that combining Web3 with existing streaming distribution will “unlock new creative and commercial opportunities” for music fans. Similarly, the ‘old-school’ music file-sharing service, Limewire, has also attempted to tackle the Web3 space with NFTs.

What do you think the Napster acquisition of Mint Songs means for the future of music in the Web3 space? Let us know your thoughts about this subject in the comments section below.



from Bitcoin News https://ift.tt/POIMDtS
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more