The power of nostalgia provides a mighty weapon to wield in the battle for Web3 supremacy. It is therefore pertinent that Hivemind and Algorand have combined forces to bring Napster back into contention.
One may be forgiven for thinking that Napster had died a death following a number of high-profile lawsuits in the early 2000’s. However, over the years it has seen a revival, and now boasts a modest customer base and revenue, making it primed and ready to engage with the latest revolution in internet technology.
Over recent months, the Web3 movement has gathered speed and NFTs now represent the next great frontier in music ownership. So, with this in mind, Hivemind and Algorand have purchased the mighty streaming service, with an ultimate aim for it to sit at the vanguard of this revolution in digital music.
— Michael Jordan (@AlgoFamily) May 10, 2022
According to sources, with the new look Napster will form an entire Web3 music ecosystem that will help artists to create content, share experiences and reward loyalty. So rather than sitting at odds with the current wave of music platforms, Napster plans to compliment them by offering a number of wholly compatible services in order to maximize the engagement factor.
Napster joins fellow pioneering music sharing platform, Limewire, as it begins its Web3 journey. A well-orchestrated relaunch that also saw the involvement of Hivemind.