The longest running independent music streaming platform Napster could change the Web3 music NFT niche this year! The company’s latest acquisition, Mint Songs, is a leading NFT-based music marketplace. Together, the duo aims to connect fans with their favorite artist through new experiences, and that’s just the beginning.
Why did Napster buy Mint Songs on the Web3 Marketplace?
Napster, a leading independent music streaming service, could also lead Web3 music projects in 2023. This year, the company’s new CEO Jon Vlassopulos’ main goal is to increase Napster’s presence in the Web3 world as well. .
The first move in that direction was to buy Mint Songs, Web3’s popular music-focused marketplace, the team confirmed in a statement.
“Garrett and the team (at Mint Music) have done groundbreaking work helping thousands of artists get started on Web3, reach their fans in creative new ways through collectibles, and unlock significant new revenue streams.” received by Vlassopoulos.
Napster has over 20 years of domain experience. From record label connections to artists and a powerful community, the team is ready to make their valuable contribution to the growing Web3 universe with Mint Songs.
What is Mint Songs?
Soon, mint songs is an NFT marketplace focused on producing, minting, and trading music collectibles. This platform facilitates the creative process for artists as well as their means to promote their own artwork as NFTs.
Thanks to this innovative concept, Mint Songs raised over $4.3 million in a seed funding round. The round was led by Castle Island Ventures and Freestyle Capital, to name a few. However, his partnership with Napster is certainly taking his journey to a new level.
“Our goal has always been to create deep and engaging ways for artists to connect with fans that also offer them the opportunity to monetize that fandom. Rather, we see fan demand for a music service that offers more than just on-demand music and podcasts, making Napster’s ambitious goals all the more appealing.” said Mint Songs co-founder Garrett Hughes.
Consequently, Hughes will become a leading advisor for Napster’s upcoming digital journey, including new product and tool launches.
Are Web3 music NFTs on the rise?
Having a company as popular as Napster focusing on Web3 music projects definitely says something about this niche. After all, the popularity of musical NFTs skyrocketed last year in part due to some big IRL names joining the Metaverse.
For example, artists and bands like Boy & Bear, Nas, Sonu Nigam, and Iman Europe released new tracks, music videos, and even EPs as NFT collectibles. Additionally, iconic artists like Eminem and Snoop Dogg brought NFT into the mainstream with NFT music videos.
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