Napster, previously notorious for music piracy, has been sold to Infinite Reality for $207 million. The acquisition aims to reinvent Napster into a social music platform where artists can connect with fans more effectively. Plans include creating virtual 3D spaces for concerts, enabling merchandise sales, and providing artists with better analytics. CEO Jon Vlassopulos stated the music streaming experience isn't keeping up with technological advancements, highlighting the need for an immersive approach to music consumption.
"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," said Napster CEO Jon Vlassopulos in a blog post.
"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," said Infinite Reality Chief Business Officer Amish Shah.
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