Napster has been sold for $207 million to Infinite Reality, which aims to transform the platform by creating virtual 3D spaces for music fans. This includes hosting concerts and providing platforms for musicians to sell merchandise. Infinite Reality CEO John Acunto asserts its importance in fostering musical communities in the streaming space. Coupled with Napster's existing music licenses, the company plans to innovate and disrupt the music streaming landscape by enhancing how artists engage with their audiences in immersive environments.
When we think about clients who have audiences - influencers, creators - I think it's very important that they have a connected space that's around music and musical communities.
The purchase will allow artists to create 'crazy environments that are really only limited by their imaginations,' enabling innovative experiences for their fans.
That sounds about right. A platform from 1999 will be used as part of a technology that seemingly peaked in 2021.
Infinite Reality plans on creating virtual 3D spaces for music fans to attend concerts and listening parties, making it an intriguing pivot for Napster.
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