Napster Takes Over Web3 Music Scene with Mint Songs AcquisitionFebruary 17, 2023
The longest-running unbiased music streaming platform Napster would possibly change the Web3 music NFT area of interest this yr! The corporate’s newest acquisition, Mint Songs, is a number one NFT-based music market. Collectively, the duo goals to attach followers with their favourite artist with new experiences – and that’s just the start.
Why Did Napster Buy The Web3 Market Mint Songs?
Napster, a number one unbiased music streaming service, may additionally paved the way for Web3 music initiatives in 2023. This yr, the corporate’s new CEO Jon Vlassopulos’s core aim is to develop Napster’s presence within the Web3 world too.
The primary transfer in that course was buying the favored Web3 music-centered market Mint Songs, the group confirmed in an announcement.
“Garrett and group (at Mint Music) have accomplished groundbreaking work serving to 1000’s of artists get their begin in Web3, attain their followers in new artistic methods via collectibles, and unlock important new income streams,” mentioned Vlassopoulos.
Napster has over 20 years of expertise within the area. From label connections to artists and a strong group, the group is able to deliver their priceless enter to the rising Web3 universe with Mint Songs.
What Is Mint Songs?
In brief, Mint Songs is an NFT market targeted on producing, minting, and buying and selling music collectibles. This platform facilitates artists’ artistic course of, in addition to their technique of selling their very own artworks as NFTs.
Due to this revolutionary idea, Mint Songs raised greater than $4.3 million in a seed funding spherical led by Citadel Island Ventures and Freestyle Capital to call a couple of. Nevertheless, their partnership with Napster is undoubtedly taking their journey to a brand new stage.
“Our aim all alongside has been to create deep, partaking, methods for artists to attach with followers that additionally provide them a possibility to monetize that fandom. Conversely, we see a requirement from followers for a music service to supply extra than simply on-demand music and podcasts, which makes Napster’s bold targets all of the extra enticing,” mentioned Mint Songs Co-Founder Garrett Hughes.
Accordingly, Hughes will develop into a number one advisor for Napster’s digital journey laying forward, together with new product and gear launches.
Are Web3 music NFTs on The Rise?
Having an organization as fashionable as Napster specializing in Web3 music initiatives a lot undoubtedly says one thing about this area of interest. In any case, music NFTs skyrocketed in recognition final yr partly because of some massive names IRL becoming a member of the Metaverse.
For instance, artists and bands similar to Boy & Bear, Nas, Sonu Nigam, and Iman Europe launched new tracks, music movies, and even EP’s as NFT collectibles. Furthermore, iconic artists similar to Eminem and Snoop Dogg principally launched the massive public to NFTs utilizing their musical energy.
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