Notorious music streaming service Napster has announced plans to relaunch their business as a platform for cryptocurrencies and NFTs, reports Bloomberg. Napster is infamous for providing free and often illegal mp3 downloads of music to an entire generation of people in the early to mid-2000s.
The rebranding comes after Napster’s acquisition by crypto ground, Hivemind Capital Partners. The UK based company will relaunch as a new token, $NAPSTER, which aims to allow fans to buy concert tickets exclusive experiences from artists on the platform.
Since being first shut down in 2001 and sued for copyright infringement, Napster has gone through a number of evolutions but resumed using the Napster name in 2016. They shifted from being listed on London’s Alternative Investment Market to being privatised in January.
The rebrand follows a similar strategy adopted by LimeWire, who has just launched an NFT marketplace featuring content from Travis Barker and Brandy which include exclusive tracks, artworks, and meet and greet experiences.
