SoundCloud acquires Nina Protocol, a platform for independent artists
The world-renowned music service SoundCloud has officially announced the acquisition of Nina Protocol, a decentralized platform designed for independent artists. This deal marks the first major acquisition for SoundCloud since it bought the AI-powered company Musiio in 2022. This move further strengthens the platform's strategy to become not just a music hosting site, but a comprehensive ecosystem for independent creators. This is reported by Techcrunch.com reports .
Nina Protocol was founded in 2021 by independent musicians Jack Callahan, Mike Pollard, and Eric Farber. The platform's uniqueness lay in its ability to allow artists to sell their work directly to fans and keep 100 percent of the revenue. However, in May of this year, the platform was forced to cease operations as it could not create a sustainable business model.
New opportunities for independent creators
SoundCloud management is taking over all technological and intellectual assets of the Nina Protocol project, including its editorial archive and its unique “genre map.” This will play an important role in discovering emerging artists and bringing their work to a wider audience. According to TechCrunch and other reputable publications, the financial details of the deal have not yet been disclosed.SoundCloud CEO Eliah Seton noted that the Nina team created an incredible platform that puts independent creators and communities first. “Our goal is to provide creators with new tools to connect more closely with fans and build sustainable careers, while preserving the values they created,” says the company head.
Technologically, Nina Protocol was based on the Solana blockchain, ensuring fast and cheap transactions. It also used the Arweave system for decentralized data storage. Now, these technological solutions and content will be integrated into the SoundCloud platform. This could create additional opportunities for independent and young creators, including those in Uzbekistan, to find their place on the global stage.
Creator migration and support
SoundCloud has launched a special migration tool for former Nina users. With this tool, artists can easily move their work to the new platform. In addition, these creators will be provided with a free SoundCloud Artist subscription until the end of the year. This package includes the following features:- Monetization functions for creative works;
- Advanced analytical tools to expand the audience;
- Ability to distribute music to all major streaming services.
Comments 0
…