Peer-to-peer music-sharing platform Napster has named Roblox's former vice president and head of global music as its CEO

Peer-to-peer music sharing platform Napster has appointed Jon Vlassopulos, former vice president and head of global music at Roblox, as CEO to manage its next Web3 direction, according to Forbes. Napster is also currently in the midst of a new round of funding from backers including SkyBridge Capital, Alumni Ventures, Borderless Capital and G20 Ventures. As previously reported by BlockBeats, on June 30, peer-to-peer music sharing platform Napster announced the release of its Litepaper V1, which proposes a plan to apply Web3 technology to existing businesses and millions of users, creating a decentralized music first ecosystem, To improve the way music producers, rights holders and fans interact. At the same time, the project will issue NAPSTER Tokens using the Algorand blockchain protocol to simplify its existing platform functionality and open up new options for creating value around streaming music. Napster was acquired by Hivemind, Algorand in May.