Share this article
Spotify Acquires Blockchain Startup Mediachain
Digital media streaming service Spotify has acquired blockchain startup Mediachain Labs as part of an undisclosed deal.
By Stan Higgins
Updated Sep 11, 2021, 1:16 p.m. Published Apr 26, 2017, 4:45 p.m.
Make us preferred on Google
In what is likely the highest-profile purchase of an industry firm so far in 2017, music streaming giant Spotify has acquired blockchain startup Mediachain Labs.
As profiled by CoinDesk last year, Mediachain sought to develop a platform that would enable creators to attach information to projects and create a record on the bitcoin blockchain. That information would then be stored on the InterPlanetary File System, or IPFS.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
While the terms of the deal were not disclosed, according to Spotify, the startup's team will be integrated into its New York offices where work could continue on similar initiatives.
Spotify said in a statement:
"The Mediachain team will join our New York City offices and help further Spotify's journey towards a more fair, transparent and rewarding music industry for creators and rights owners."
In a blog post announcing the move, the Mediachain team said that its Mediachain protocol will remain open-source.
"As we sync up with Spotify, we will turn Mediachain over to the [open-source software] community — all source code and documentation will remain open source and openly licensed," they wrote.
The startup declined further comment when reached.
Mediachain previously attracted $1.5m in seed funding from a number of big-name investors, including Andreessen Horowitz and Union Square Ventures.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Mediachain.
Image Credit: Twin Design / Shutterstock.com
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
