Napster Outlines New Web3 Music Ecosystem
Napster Music Inc., the music streaming service, today announced the publication of its Litepaper V1 which outlines its plans to apply Web3 technology to its existing business and millions of users in order to improve how music makers, rights holders and fans can interact.
- Napster Music Inc., the music streaming service, today announced the publication of its Litepaper V1 which outlines its plans to apply Web3 technology to its existing business and millions of users in order to improve how music makers, rights holders and fans can interact.
- A new entity, Napster Innovation Foundation, will be issuing $NAPSTER tokens using the Algorand blockchain protocol to streamline its existing platform functionality as well as open up new options for creating value around streaming music.
- Web3 offers a chance to deepen, extend and improve the music ecosystem.
- Now, Napster is going back to its roots and will launch a decentralised music-first ecosystem to the benefit of fans, music makers and rights holders.