Infinite Reality Purchases Napster for $200M to Develop a Social Music Platform and Virtual Concerts

Napster. It’s a blast from the past, isn’t it? For many, it’s been years since that name last popped up on their radar. Well, it’s back in the spotlight thanks to an intriguing move by Infinite Reality, a company making waves in the immersive web space. They’ve just picked up Napster for a cool $207 million.

Infinite Reality recently benefited from a $3 billion cash infusion in January, and they’re not wasting any time. They’re revamping Napster into a social music platform, blending the traditional streaming service with cutting-edge features. Imagine a world where you can dive into virtual concerts and listening parties, all within branded 3D spaces.

But that’s not all. Napster is set to broaden its horizons, offering both physical and virtual merchandise, alongside exclusive digital content and event tickets. This new direction is music to the ears of Infinite Reality’s co-founder and CEO, John Acunto. “Taking over Napster is more than just a business decision; it’s about reinvigorating the music landscape for artists, fans, and the industry as a whole,” he shared. He’s passionate about steering Infinite Reality to become a pioneer in morphing our flat internet into a dynamic 3D realm. It’s all about empowering creators with tools that enhance engagement, boost monetization efforts, and provide better audience insights.

Running the Napster show is Jon Vlassopulos, a former executive at Roblox. He dreams of crafting a platform where fans don’t just listen to music but live it, engaging with artists in immersive 3D environments.

Founded in 2019, Infinite Reality’s pride and joy is iR Studio. This engine is a powerhouse for building immersive websites, complete with social virtual worlds and avatars. Plus, with WebXR support by default, users can access these sites directly on any compatible XR headset using just a web browser.

Though Infinite Reality hasn’t spilled all the beans, it’s a safe bet we’ll see iR Studio playing a key role in future Napster events, including for popular VR headsets like Quest and PC VR.

Napster’s brand journey has been tumultuous since filing for bankruptcy in 2002. That downfall stemmed from its notorious role in music piracy, which notably ruffled feathers with artists like Metallica. Over the years, the brand has passed through the hands of several companies, each hoping to tap into its lingering fame. Most recently, it morphed from a peer-to-peer sharing service into a subscription-based streaming platform.

Interestingly, Infinite Reality isn’t the first in the XR world to snap up Napster. Back in August 2020, MelodyVR, a player from London, acquired Napster for $70 million, with plans to transform virtual concerts for VR users. Before Infinite Reality, Napster was under the wing of blockchain firm Algorand, which wanted to use the brand to decentralize music distribution.