Napster—now there’s a blast from the past. Or, maybe a name you haven’t given much thought to for quite some time. But in a surprising turn of events, Infinite Reality, a company known for its ventures in the immersive web space, has scooped up the Napster brand for a hefty $207 million.
After securing a significant $3 billion investment earlier this year in January, Infinite Reality is setting its sights on transforming the Napster music streaming service. They’re planning to introduce a “social music platform” that includes engaging 3D virtual spaces crafted for hosting virtual concerts and listening parties.
On top of that, Napster’s new iteration will offer a range of physical and virtual merchandise, exclusive digital content, and event tickets. John Acunto, co-founder and CEO of Infinite Reality, stated, “By acquiring Napster, we’re paving a path to a brighter future for artists, fans, and the music industry at large.” He emphasized this strategic acquisition aligns with Infinite Reality’s broader mission: spearheading the shift from a flat, traditional 2D web to an engaging and interactive 3D platform, providing creators with cutting-edge tools to engage, monetize, and understand their audiences better.
Leading this newly envisioned Napster is CEO Jon Vlassopulos, who previously held a significant role at Roblox. Jon is eagerly looking forward to steering Napster into a next-gen platform where fans can mingle with artists within vibrant 3D virtual settings, making music a more social and immersive experience.
Infinite Reality, which kicked off in 2019, is recognized for its flagship offering, iR Studio—this is a sophisticated engine that facilitates the creation of immersive websites featuring social virtual environments and avatars. While iR Engine does come with WebXR support, this functionality isn’t currently active in the iR Studio tool. However, the potential for Napster to integrate WebXR in the future remains open, possibly extending its reach to any VR headset compatible with a WebXR browser. Although, as of now, that’s just speculation.
Napster has journeyed through numerous transformations since its high-profile bankruptcy in 2002, back when it drew negative attention from bands like Metallica due to its unlicensed peer-to-peer music sharing. During its tumultuous journey, the brand has been acquired by several companies aiming to harness its wide-reaching appeal. Most recently, the platform shifted from its roots to become a subscription-based music streaming service.
Interestingly, Infinite Reality isn’t the first XR-centric enterprise to have snagged Napster. Back in August 2020, MelodyVR, a virtual concert company based in London, acquired Napster for $70 million, aspiring to merge immersive video concerts with VR technology. Before being bought by Infinite Reality, Napster’s latest patron was Algorand, a blockchain company that had visions of decentralizing the music industry.
