Napster has been sold to Infinite Reality for $207 million, with an aim to transform it into a social music platform. The company plans to create virtual 3D spaces for fans to attend concerts and enable musicians to sell merchandise. This reimagining of Napster comes from the recognition that while internet technology has significantly evolved, music streaming has not kept pace. The new initiatives will also provide artists with better analytics to enhance fan engagement and monetization possibilities.
The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era. Yet, music streaming has remained largely the same. It's time to reimagine what's possible.
We can think of no better use case for our technology than putting it in the hands of music artists who are constantly pushing the boundaries of what's possible.
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