Veteran music streaming company is setting foot into the Web3 space as they announce the launch of their token on Algornad. The company released a litepaper that stated that the company will build its exciting streaming system on the layer-1 blockchain.
The litepaper states that Algorand is the only carbon-negative blockchain that currently exists.
“Napster will unlock all the opportunities of Web3 for fans, right holders, and music makers”, the paper reads.
Napster
We all know Napster – almost. Founded by Sean Parker in 1999, Napster is a peer-to-peer music-sharing platform that basically defeated physical CDs.
Due to some lawsuits from music rights holders, the company ceased operations in 2001 and declared bankruptcy in 2002.
The name Napster was revived by Best Buy in 2016 when it merged it with their brand Rhapsody.
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