Infinite Reality has acquired Napster for $207 million, intending to reshape the iconic music brand into a social music platform focused on marketing artists in the metaverse. The goal is to foster active engagement between musicians and fans rather than passive listening. This strategy will include branded virtual spaces for concerts and community experiences, enabling fans to not only engage with music but also purchase tickets and exclusive merchandise directly from artists. The acquisition underscores a broader trend of integrating traditional music services with Web3 technologies.
Napster is set to transition from a streaming service to a 'social music platform,' promoting active fan engagement and enabling artists to monetize their relationships with fans.
Infinite Reality plans to create branded 3D virtual spaces, offering virtual concerts and social listening parties, merging music with engaging community experiences.
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