Napster Bets on Web3
Napster is making a move into web3, according to an exclusive provided to Decrypt.
❗Why It Matters
If you know what CD Players are - you remember Napster, the peer-to-peer music-sharing app launched back in 1999 that disrupted the music industry. Given its experience in musical disruption, it wouldn't be shocking to see the company shakeup the slowly growing web3/music crossover.
The Deets
Napster acquired Mint Songs, which previously raised $4.3 million from investors with plans to implement Mint Songs functionality into Napster's platform in Q2 2023.
Mint Songs, like Vault and others, allows fans to connect with their favorite musical artists through digital collectibles.
🎤 Founder Feedback
So the bet is that, as 20 years ago, music was the on-ramp to digital, why shouldn't music again be the on-ramp for the Web3 consumer?Jon Vlassopulos
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