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Music streaming service Napster has employed former Roblox International Head of Music Jon Vlassopulos as its new CEO.
The corporate has additionally introduced a brand new funding spherical with participation from current traders and new backers together with Hivemind, Algorand, SkyBridge Capital, Alumni Ventures, Borderless Capital, and G20 Ventures, which can speed up Napster’s Web3 initiatives.
Brevan Howard Digital, Arrington Capital, and RSE Ventures are additionally among the many current traders of the music model.
Napster additionally introduced at the moment (September 26) that it’s launching Napster Ventures, which it says “will give attention to fostering, investing in, and buying the perfect Web3 music startups”.
Algorand, in partnership with Napster, can be launching an artist growth fund, which in response to a press launch is “designed to assist artists navigate and achieve success in Web3”.
Napster’s new CEO appointment follows the information of the platform’s acquisition in May by Hivemind and Alogrand with plans to “revolutionize the music business by bringing blockchain and Web3 to artists and followers”.
Music business veteran Emmy Lovell was named interim CEO on the time.
Napster was beforehand acquired, in April 2021, by UK-based digital actuality music firm MelodyVR.
Vlassopulos joined Roblox as Vice President and International Head of Music in 2019, exiting the function on the finish of April.
Throughout his tenure, Vlassopulos led Roblox’s music initiatives and partnerships with report labels, publishers, administration corporations, businesses, artists, manufacturers, and music startups.
Napster says that Vlassopulos is credited with “bringing artists into the metaverse through interactive, immersive, and hyper-social experiences” on the Roblox platform.
“We’re excited for Napster to be a central participant within the music Web3 ecosystem,” mentioned Matt Zhang, Founder and Managing Associate of Hivemind.
Matt Zhang, Hivemind
“We’re excited for Napster to be a central participant within the music Web3 ecosystem,” mentioned Matt Zhang, Founder and Managing Associate of Hivemind.
“We stay up for rallying all of the wonderful innovation that has occurred so far so we are able to all collectively drive mainstream adoption of Web3 know-how for the music business.”
“We consider Napster is the right model and platform to steer the subsequent technology of the music business that goes past streaming or avatar-driven digital live shows.”
W. Sean Ford, CEO of Algorand
W. Sean Ford, CEO of Algorand, mentioned: “In our early discussions with Jon, we shortly realized his imaginative and prescient of constructing a recent, new, and social on-line music service centered round connecting artists and followers in new methods, and leveraging Web3 know-how, aligns completely with the place we see Napster heading.
“We consider Napster is the right model and platform to steer the subsequent technology of the music business that goes past streaming or avatar-driven digital live shows.
“Jon’s sturdy connectivity with the music business and huge expertise will give us the mandatory management to make this a actuality.”
“It’s an honor to tackle this function and I’m thrilled to steer an organization with such a wealthy historical past within the music business.”
Jon Vlassopulos, Napster
Jon Vlassopulos, CEO of Napster, added: “It’s an honor to tackle this function and I’m thrilled to steer an organization with such a wealthy historical past within the music business.
“With the arrival of Web3 know-how, we now have an unprecedented alternative to attach artists and followers in new, modern methods whereas additionally making the fan expertise extra enjoyable and social and creating new income streams for artists.
“I’ve spent the final three years working onerous to determine new, inventive, and business alternatives for artists within the metaverse and I’m trying ahead to working alongside the wonderful Napster crew, our present and future companions, labels, artists, publishers, manufacturers, and startups to convey mainstream followers to Web3.”
Vlassopulos has labored within the music, gaming, and leisure house for the previous three many years.
After beginning his profession as a DJ, he then labored for BMG and Bertelsmann in Hong Kong, Tokyo, and New York within the late 90s the place he labored on most of the firm’s early digital initiatives.
He additionally labored at corporations comparable to AT&T Wi-fi, Endemol, and cellular leisure advertising and marketing and promoting company Skyrockit.Music Enterprise Worldwide
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