Napstar. Now there is a name I’ve never heard of in a few years. Now, Immersive Web Company Infinite Reality has announced that it has acquired the brand for $207 million.
Infinite Reality, which just completed its $3 billion investment in January, says the Napster Music streaming service will soon include a “social music platform,” which includes branded 3D virtual spaces for virtual concerts and listening parties.
Additionally, the company says Napster will sell both physical and virtual products, exclusive digital content and event tickets.
“Acquiring Napster is paving the way for a bright future for artists, fans and the music industry as a whole,” said John Acunto, co-founder and CEO of Infinite Reality. “This strategic move coincides with the vision of an endless reality of leading the Internet industry shift from a flat, 2D clickable web to a 3D conversation web.
Previously Roblox CEO Jon Vlassopulos notes that it envisions a next-generation platform where fans can interact with artists in 3D virtual spaces and allow music consumption to be more social and immersive.
Founded in 2019, Infinite Reality’s flagship product is IR Studio, the engine for building immersive websites, full of social virtual environments and avatars. According to the company, WebXR is supported by the IR engine, but the hosted IR studio tools are currently not turned on. Still, it’s a possibility of napsters I did it We will support WebXR in the future. This means a VR headset that can use a WebXR browser, but this is pure speculation at this point.
This is not the first time the Napstar brand has changed its hands since its bankruptcy in 2002. This was due to a platform that allowed for unauthorized P2P sharing of music and attracted the rage of rock band Metallica. Over the years, the company was acquired by a laundry list of companies that want to capitalize on the broad appeal of the brand, and has recently transformed its one-time music sharing platform into a subscriber-based music streaming platform.
Interestingly, Infinite Reality is also not the first XR-focused company to buy Napster. In August 2020, London-based virtual concert company MelodyVr acquired Napster for $70 million. Before the acquisition of Infinite Reality, Napster’s latest owner was Blockchain Company Algorand, who wanted to diversify music.
