Napster Wants to Become a Web3 Company

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File sharing pioneer Napster is getting a second likelihood at life, this time, on the blockchain. That is proper, nothing fairly screams, “Web3 futurism” like a stumbling, hallowed out 23-year-old web firm.

Information of Napster’s supposed web3 revival got here by means of a LinkedIn put up from Hivemind associate Matt Zhang (Hivemind, for many who have not heard, is a crypto-focused funding agency that not too long ago acquired Napster Group together with one other agency known as Algorand). In a separate put upNapster Group stated they hope the acquisition will assist Napster “revolutionize the music business by bringing blockchain and Web3 to artists and followers.”

Whereas it is unclear what precisely that can entail proper now, it is doable Napster may comply with the playbook of different self-described Web3 music platforms and supply a platform for musicians to launch content material as NFTs. Some musicians are onboard. Kings of Leon, deadmau5, Shawn Mendesand Tory Lanez have all launched NFT initiatives over the previous 12 months.

Oddly sufficient, Napster is not the one 2000s piracy purveyor getting a Web3 reboot. LimeWire relaunched this month as an NFTmarketplace almost ten years after it was shut down. The brand new platform, which was acquired by Austrian brothers Julian and Paul Zehetmayr, will reportedly nonetheless give attention to music-related content material. In an interview with CNBC, Julian Zehetmay in contrast the unfastened, free-for-all ambiance of NFTs to the web’s wild west days.

“We’re making an attempt to be a extra mature platform and professionalize every little thing, similar to Coinbase or different exchanges would do for crypto belongings,” Zehetmayr stated.

That mission is already bearing fruit. Earlier this week, Limewire introduced it had struck a cope with Common Music Group to license content material globally. By that deal, LimeWire says UMG artists and report labels can, “leverage the LimeWire market as a further platform to discover distinctive methods of participating with followers via digital collectibles.”

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