Skip to main content

After Limewire now also Napster in Web 3.0

 


Napster first used peer-to-peer technology in the Web1 era and put fans first. At that time, the young company created a new way of distributing music.


Now Napster is going back to its roots and becoming the decentralized music ecosystem with benefits for fans, music producers and rights holders. The project is supported by the Blockchain Algorand.


Under new leadership, they want to enrich the music industry with blockchain technology. Alongside Algorand, British investor Alan Howard's cryptocurrency fund Brevan Howard Digital Assets is also part of the Hivemind-led consortium that bought the music platform a few months ago.


"We're entering the era of music streaming plus, one of the few scalable business areas where the adoption of blockchain technology makes immediate sense for everyone involved," said Emmy Lovell, interim CEO of Napster. “The people who make music, the people who listen to it, and those who own its intellectual property are all already heavily dependent on technology. Web3 opens up an opportunity to deepen, expand and enhance the music ecosystem.”


The Napster token

The British company Napster plans to introduce its own token ($NAPSTER). The idea is that users of the streaming platform can use it to buy tickets and music featuring the artists sponsored by the company. The Napster Innovation Foundation, a non-governmental organization, is said to administer the token.


Among other things, rewards in the form of tokens for actively using the platform and taking on various tasks are planned. In addition, the token should also give each holder the right to have a say in the management and future financial projects of the platform. This turns the company into a kind of DAO ( Decentralized Autonomous Organization ).

Napster DAO

The Napster Innovation Foundation plans to introduce a number of features to reward stakeholders for providing useful services. This system is to be called Napster Incentives.


In the course of time, the community should also be involved. It is to propose, vote and approve new incentives to determine the future direction of the network. In the published Litepaper , the company already presents various subgroups for the distribution of tasks. These are:


Fan incentives

Creator incentives

Rights Holder incentives

Developer incentives

Strategic Partners

However, the services will initially be limited as the project is still at an early stage. The upper limit for the number of tokens is said to be 10 billion. However, the company reserves the right to make changes to the token economy up to this point.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more