Spotify acquires blockchain content startup Mediachain
Streaming media industry giant Spotify has announced its acquisition of blockchain content start-up Mediachain. The specific acquisition amount has not yet been disclosed. It is reported that Mediachain previously received a $1.5 million investment from a16z and Union Square Ventures and is currently building a distributed database that connects creators and authors with the content they create. Spotify stated that the Mediachain team will join its New York office to help Spotify move towards a music industry that is fairer, more transparent, and beneficial for creators and copyright owners.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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