Napster, an independent music streaming service, has acquired Mint Songs, a Web3 music startup, in pursuit of its larger goal to launch a Web3 feature, according to an official statement released on February 15. Mint Songs, launched in 2021, runs an NFT marketplace that assists music artists in creating Web3 communities by minting songs and exclusive art for their fans to own and trade. Nate Pham, Mint Songs’ product lead, will join Napster to spearhead its Web3 product initiatives as part of the deal.
Jon Vlassopulos, the former CEO of Roblox, who joined Napster as the new CEO five months ago, made it clear from the start that Napster was looking to expand its reach into Web3 and the broader music ecosystem, and thus was seeking acquisitions. The acquisition of Mint Songs is the first of many, as the company speeds up its plans to launch in Web3. The Cofounder and CTO of Mint Songs, Garrett Hughes, will advise Napster on integrating Mint Songs’ technology into the Napster platform and will continue to advise the Napster team on launching new Web3 products and services.