SoundCloud Takes Over Nina Protocol, the Decentralized Music Platform, Following Its Closure
On Wednesday, SoundCloud revealed its acquisition of Nina Protocol, a decentralized platform that allowed independent musicians to sell their music directly to fans while keeping all their earnings.
The financial details of this acquisition have not been made public, and it’s uncertain whether any of Nina’s team will be integrated into SoundCloud. The company has yet to provide a comment on this matter.
This acquisition marks SoundCloud’s first since its 2022 purchase of AI-driven music company Musiio, aimed at enhancing music discovery. It underscores SoundCloud’s commitment to evolving beyond a music hosting service into a comprehensive platform for independent artists.
As part of the deal, SoundCloud will acquire Nina’s editorial archive and “genre map.” According to the company, this move will help preserve Nina’s extensive collection of music journalism, artist insights, and cultural discussions, as well as aid in promoting emerging artists and music to a wider audience.
“Nina Protocol has created an exceptional platform that prioritizes independent artists and their communities. We aim to respect their legacy while advancing that mission,” stated SoundCloud CEO Eliah Seton. “Together, we can help more independent musicians foster stronger connections with their fans, discover new income opportunities, and access the necessary tools to build sustainable careers on their own terms.”
This announcement follows Nina’s recent decision to shut down its platform on May 28, due to challenges in creating a sustainable business model.
Founded in 2021 by independent musicians Jack Callahan, Mike Pollard, and Eric Farber, Nina Protocol provided artists with a means to operate their digital storefronts independently of conventional streaming services. Utilizing the Solana blockchain for efficient and economical transactions, it also relied on Arweave for permanent decentralized storage of music files and associated data.
SoundCloud plans to offer Nina Protocol artists a migration tool to assist in transferring their work to its platform. Furthermore, these artists will receive a free SoundCloud Artist subscription until the year’s end, which includes various monetization options and tools for audience growth.
