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Artificial intelligence startup Infinite Reality has acquired the music-pirating app turned music streaming service Napster in a $207 million deal and plans to add a music-focused metaverse.
Infinite Reality said in a March 25 statement that Napster would offer “branded 3D virtual spaces” to allow virtual concerts and “social listening parties” along with the ability to offer virtual merchandise.
“Imagine stepping into a virtual venue to watch an exclusive show with friends, chat with your favorite artist in their own virtual hangout as they drop their new single, and be able to directly buy their exclusive digital and physical merch,” said Napster CEO Jon Vlassopulos, who will continue in his role amid the acquisition.
“The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era,” he added.
Infinite Reality added that it also plans for Napster to allow musicians to use AI customer and community management agents and analytics dashboards to track fan behavior and cross-promotion with its other entertainment properties, such as Esports teams.
Napster’s latest repurposing
Napster was a pioneer in piracy, launching in 1999 as a peer-to-peer (P2P) filing-sharing service mostly for music. It shuttered in 2001, buried by a court order after a wave of copyright infringement lawsuits.
The now-bankrupt company sold its brand, which was relaunched as a music-streaming service before bouncing between owners for the next 20 years. The blockchain firm Algorand and crypto investment firm Hivemind most recently bought it in 2022.
Related: Here’s what musicians actually think of tokenizing content in Web3
Napster had made several moves in the Web3 space, announcing plans in June 2022 to launch its own Napster token on the Algorand blockchain that could be used to buy music subscriptions and other content. The brand also bought Web3 music startup Mint Songs in February 2023.
John Acunto, co-founder and CEO of Infinite Reality, said the team hopes to lead an “internet industry shift from a flat 2D clickable web to a 3D conversational one.”
Infinite Reality says the acquisition of Napster is slated to close in a few weeks. According to the firm, it hopes to evolve the Napster brand to become the leading immersive music platform for artists, fans and curators through audience monetization and engagement capabilities.
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