Music NFTs, Crypto and Web3 are experiencing a bit of a winter like every other industry, but really, they are just getting started.
Napster hires Roblox former Global Head of Music, Jon Vlassopulos, as CEO.
The company is also doing another round of funding with participation from existing investors and new backers including Hivemind, Algorand, SkyBridge Capital, Alumni Ventures, Borderless Capital, and G20 Ventures, which will accelerate Napster’s Web3 initiatives. Concurrently, they are also launching Napster Ventures, which it says “will focus on fostering, investing in, and acquiring the best Web3 music startups”.
Napster is keen to have Jon becuase he is credited with “bringing artists into the metaverse via interactive, immersive, and hyper-social experiences” on the Roblox platform.
W. Sean Ford, CEO of Algorand, said: “In our early discussions with Jon, we quickly realized his vision of building a fresh, new, and social online music service centered around connecting artists and fans in new ways, and leveraging Web3 technology, aligns perfectly with where we see Napster heading. We believe Napster is the perfect brand and platform to lead the next generation of the music industry that goes beyond streaming or avatar-driven virtual concerts.
Songs That Work believes that it is key to have a footprint in the intersection of Crypto, Music and Web3 experiences. Music NFTs that allow for ENGAGEMENT and INTERACTION, like the ones that Snoop, put out this year that are essentially a membership club, or one's that Jay-Z's Marcy Ventures are working on that are digital wearables that offer in person experiences as well offer a tangible touch point and allow the artist to sell them at a more premium rate. These would be paired with digital collectibles in a very short run that would be available on sites like Napster and Limewire, either on their own or as a part of a larger music experience. Limewire has already been rebranded and launched with some big names on digital collectibles like Travis Barker and Brandy.
Go to the Total Access Version of Songs That Work to get the full break down on the various kind of music NFTs and where how to sell them along with all the things NOT to do when jumping into NFTS as well.
Here in www.songsthatwork.info is an entire 10 part section on Music NFTS.
Be sure to check out the whole slide story in the class slides and all of the corresponding sections in the STW platform at www.songsthatwork.com.
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