Music streaming service Napster has employed former Roblox world head of music Jon Vlassopulos as its new CEO.
The corporate 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 music model’s current traders.
Napster additionally introduced as we speak (September 26) that it’s launching Napster Ventures, which it says will “concentrate on nurturing, investing in and buying prime Web3 music startups.”
Algorand, in partnership with Napster, can also be launching an Artist Growth Fund which, in line with a press launch, is “designed to assist artists navigate and succeed on Web3.”
Appointment of latest Napster CEO follows platform information acquired in Might by Hivemind and Alogrand with plans to “revolutionize the music trade by bringing blockchain and Web3 to artists and followers.”
Music trade veteran Emmy Lovell was named interim CEO on the time.
Napster was beforehand acquiredin April 2021, by British digital actuality music firm MelodyVR.
Vlassopulos joined Roblox as Vice President and World Head of Music in 2019, exit the position on the finish of April.
Throughout his tenure, Vlassopulos led Roblox’s music initiatives and partnerships with document labels, publishers, administration corporations, businesses, artists, manufacturers and music startups.
Napster says Vlassopulos is credited with “bringing artists into the metaverse by means of interactive, immersive, and hyper-social experiences” on the Roblox platform.
“We’re thrilled to have Napster as a central participant within the Web3 music ecosystem,” stated Matt Zhang, Founder and Managing Associate of Hivemind.
Matt Zhang, Hive Thoughts
“We’re thrilled to have Napster as a central participant within the Web3 music ecosystem,” stated Matt Zhang, Founder and Managing Associate of Hivemind.
“We sit up for bringing collectively the entire unbelievable improvements which have occurred to this point in order that we will all collectively drive the widespread adoption of Web3 know-how for the music trade.”
“We consider Napster is the best model and platform to steer the subsequent era of the music trade that goes past streaming or avatar-driven digital live shows.”
W. Sean Ford, CEO of Algorand
W. Sean Ford, CEO of Algorand, stated: “Throughout our preliminary discussions with Jon, we shortly realized his imaginative and prescient to create a brand new social on-line music service centered on 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 best model and platform to steer the subsequent era of the music trade that goes past avatar-based streaming or digital live shows.
“Jon’s sturdy connectivity with the music trade and huge expertise will give us the management wanted to make this a actuality.”
“It is an honor to tackle this position and I am thrilled to steer an organization with such a wealthy historical past within the music trade.”
Jon Vlassopulos, Napster
Jon Vlassopulos, CEO of Napster, added, “It’s an honor to tackle this position and I’m thrilled to steer an organization with such a wealthy historical past within the music trade.
“With the appearance of Web3 know-how, we now have an unprecedented alternative to attach artists and followers in new and progressive methods whereas making the fan expertise extra enjoyable and social and creating new income streams for the artists.
“I’ve spent the previous three years working exhausting to create new artistic and enterprise alternatives for artists throughout the Metaverse and I sit up for working alongside the unbelievable workforce at Napster, our present and future companions, labels, artists , publishers, manufacturers, and startups to deliver mainstream followers to Web3.
Vlassopulos has labored in music, video games and leisure for the previous three many years.
After beginning his profession as a DJ, he then labored for GMB and Bertelsmann in Hong Kong, Tokyo and New York within the late 90s the place he labored on lots of the firm’s first digital initiatives.
He has additionally labored at corporations equivalent to AT&T Wi-fi, Endemol, and cellular leisure advertising and promoting company Skyrockit.The music trade all over the world