Napster—that’s a blast from the past, isn’t it? This iconic brand, which has been off the radar for quite some time, has now been acquired by Infinite Reality, an immersive web company, for a hefty $207 million.
Fresh from locking in a $3 billion investment this past January, Infinite Reality has big plans for the Napster music streaming service. They aim to transform it into a “social music platform,” complete with 3D virtual spaces tailored for concerts and virtual get-togethers where you can sit back and enjoy your favorite tunes with friends.
What’s more, Infinite Reality plans to expand Napster’s offerings by selling both tangible and digital goods, exclusive content, and event tickets. John Acunto, the co-founder and CEO of Infinite Reality, emphasized that this acquisition marks a pivotal step forward for both artists and fans. He explained that this move is perfectly aligned with their aim to transition from the traditional 2D web into a 3D one, offering creators state-of-the-art tools to interact, earn, and understand their audiences better.
Leading Napster into this new era is CEO Jon Vlassopulos, who brings experience from his previous role at Roblox. He envisions a platform where fans can engage with artists in immersive 3D environments, making the experience of enjoying music far more interactive and community-driven.
Since its founding in 2019, Infinite Reality’s key product has been iR Studio, an engine that creates immersive websites featuring social virtual environments and avatars. While WebXR support is part of the iR Engine, it isn’t active in the iR Studio tool just yet. However, should Napster support WebXR in the future, it could potentially be compatible with any VR headset that operates using a WebXR browser. For now, though, that’s just speculation.
Napster’s journey has been quite the rollercoaster since its 2002 bankruptcy, which stemmed from its controversial unlicensed P2P music sharing. Names like Metallica famously took issue with it at the time. Across the years, Napster has changed hands multiple times, attracting various owners who saw the potential in its brand. Most recently, it evolved into a subscription-based streaming service.
This isn’t the first time an XR-focused company has set sights on Napster either. Back in August 2020, the London-based virtual concert firm MelodyVR acquired it for $70 million, aiming to deliver immersive concert experiences for VR users. Before Infinite Reality stepped in, Napster was under the wing of blockchain firm Algorand, which aimed to decentralize the music industry using Napster’s platform.
Napster’s reinvention under Infinite Reality’s leadership could potentially change how we experience music online, and it will be fascinating to see how this iconic name continues to evolve.
