Audio file sharing platform Napstaer acquired by Algorand and Hivemind.
Peer-to-peer audio file sharing platform Napster, which was a huge hit in the early 2000s, was acquired by Hivemind and Algorand for an as-yet undisclosed price.
Emmy Lovell will serve as interim CEO of Napster, where she previously served as chief strategy officer. Lovell is a name in the music industry who has given various concerts at Warner Music Group, EMI Music, Bauer Media and the BBC.
Hivemind is a crypto-focused investment firm based in New York. The company is known for its support for LimeWire before.
Details regarding the acquisition of Napster are not yet clear. Algorand declined to comment on the matter.