Napster Expands Into Web3 Music Space With Acquisition of Mint Songs

On Wednesday, Napster, the euphony streaming work primitively launched successful 1999, announced that the institution has finalized a woody to get the Web3 euphony startup Mint Songs. Napster’s CEO, Jon Vlassopulos, insists that “we are successful an unprecedented epoch of innovation successful the integer euphony space,” and helium believes Web3 innovations tin assistance musicians find caller ways to link with their fans.

Napster Ventures Sets Its Sights connected Web3 Music Startups

After its Hivemind and Algorand acquisition successful May 2022, Napster has reignited its absorption connected the Web3 abstraction by purchasing Mint Songs, a Web3 euphony startup. The startup had antecedently raised $4.3 cardinal from firms including Freestyle Capital and Castle Island Ventures. The Mint Songs level gives musicians the quality to mint non-fungible token (NFT) items and songs via the Polygon and Ethereum blockchains.

Mint Songs has worked with artists specified arsenic Gramatik, Black Dave, and Mark de Clive-Lowe to merchandise exclusive non-fungible token (NFT) memorabilia. When Napster’s CEO, Jon Vlassopulos, joined the institution past year, helium revealed plans to get companies successful the euphony and Web3 space. Napster announced connected Wednesday that the acquisition of Mint Songs is the archetypal of galore with a absorption connected Web3 features and related services.

“We are successful an unprecedented epoch of innovation successful the integer euphony abstraction and it feels similar determination person been much euphony startups formed successful the past 2 to 3 years than successful the erstwhile 20,” Napster CEO Jon Vlassopulos said successful a connection sent to Bitcoin.com News. “We are delighted to invited 1 of the astir awesome Web3 euphony startups, Mint Songs, arsenic the newest subordinate of the Napster family,” Vlassopulos added.

The nonstop worth of the Mint Songs acquisition was not disclosed by Napster, and the woody was executed by Napster Ventures, a recently created subsidiary that aims to put successful the champion Web3 euphony startups going forward.

“We are excited for Napster to beryllium a cardinal subordinate successful the euphony Web3 ecosystem, and acquiring Mint Songs is simply a large foundational step,” said Matt Zhang, laminitis and managing spouse of Hivemind, successful a statement. Napster believes that combining Web3 with existing streaming organisation volition “unlock caller originative and commercialized opportunities” for euphony fans. Similarly, the ‘old-school’ euphony file-sharing service, Limewire, has besides attempted to tackle the Web3 abstraction with NFTs.

What bash you deliberation the Napster acquisition of Mint Songs means for the aboriginal of euphony successful the Web3 space? Let america cognize your thoughts astir this taxable successful the comments conception below.

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