SoundCloud acquires decentralized music platform Nina Protocol months after its shutdown
SoundCloud announced Wednesday that it has acquired Nina Protocol, a decentralized music platform that enabled independent artists to sell music directly to fans while keeping 100% of their revenue.
The financial terms of the deal weren’t disclosed. It’s also unclear whether any members of Nina’s team will join SoundCloud. The company has not yet responded to a request for comment.
The deal is SoundCloud’s first acquisition since its 2022 purchase of AI music company Musiio to help improve music discovery. The deal signals that SoundCloud is continuing to expand beyond music hosting into a broader platform for independent artists.
As part of the acquisition, SoundCloud will take ownership of Nina’s editorial archive and “genre map.” The company writes in a blog post that this allows it to preserve Nina’s “rich collection of music journalism, artist features, and cultural commentary” and “help surface emerging artists, scenes, and music to even more...
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