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Against the backdrop of shrinking capital for blockchain-based media ventures, SoundCloud has acquired Nina Protocol, a decentralized music startup that had announced plans to shut down months before the deal closed.
The acquisition brings Nina's artists, its editorial archive, and its music discovery tools into SoundCloud's platform for independent musicians.
The sequence of events Nina Protocol had built a decentralized distribution channel for independent music. The startup announced it would cease operations, and SoundCloud stepped in after that announcement.
That order is the defining detail of the deal: SoundCloud acquired a platform already in wind-down, absorbing its assets and community rather than competing with a going concern.
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