Napster, the pioneering filesharing platform that disrupted the music industry 25 years ago, has been acquired for $207 million by Infinite Reality. This move signifies its entry into the metaverse, promising to create virtual music experiences such as concerts and listening parties. Despite its tumultuous history with copyright issues, Napster has evolved to legally stream millions of tracks. Infinite Reality's CEO emphasizes the importance of connected spaces around music for creators and influencers, positioning Napster as a potential game-changer in the virtual music landscape.
For many millennials, the beep, hiss, and hum of dial-up internet was a necessary prelude to listening to recognizable hits, as Napster shook up the music industry.
We just don't see anybody in the streaming space creating spaces for music, and our vision is to build virtual spaces around music communities.
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