Infinite Reality Purchases Napster for $200M to Develop Social Music Platform and Virtual Concert Experiences

Napster—now that’s a blast from the past, isn’t it? A name that might ring a bell from the early days of digital music, it’s making headlines again. Infinite Reality, a company dabbling in immersive web experiences, just bought Napster for a hefty $207 million.

With a fresh $3 billion in their coffers from a recent investment, Infinite Reality is gearing up to revamp Napster. The plan? To morph it into a “social music platform” complete with branded 3D virtual spaces for hosting concerts and listening parties. They’re also looking to dive into selling merch, both in the real world and virtually, along with exclusive digital content and tickets.

John Acunto, who co-founded and leads Infinite Reality, is excited about the acquisition. “By bringing Napster into the fold, we’re opening new doors for artists, fans, and the industry as a whole,” he shared. “It’s all about moving from a simple, flat web to a dynamic 3D environment where creators have tools to connect and earn from their audiences more effectively.”

Staying at Napster’s helm is Jon Vlassopulos, previously from Roblox. He’s got big plans for the platform, envisioning a future where fans engage with their favorite artists in vibrant, interactive 3D settings, making music more social and immersive than ever.

Infinite Reality stepped onto the scene in 2019 and is best known for iR Studio, its go-to platform for building immersive websites rich with virtual environments and avatars. While iR Engine supports WebXR, the feature isn’t currently live in the iR Studio tool. There’s speculation that Napster could one day embrace WebXR, which would open doors for VR headset users to dive right in—but that’s just a possibility for now.

Napster’s been around the block a few times since it filed for bankruptcy in 2002, taking quite the journey from its controversial start with unlicensed music sharing—remember Metallica’s protest?—to various owners trying to capitalize on its brand power. Most recently, it served as a subscription-based streaming hub.

Interestingly enough, this isn’t Napster’s first tango with an XR company. MelodyVR, a virtual concert enterprise out of London, scooped up Napster in August 2020 for $70 million intending to stream video concerts to VR headsets. Before landing in Infinite Reality’s hands, Napster was owned by Algorand, a blockchain firm with ambitions to decentralize music.

Napster’s journey has been nothing short of a rollercoaster, and Infinite Reality might just be adding the next thrilling chapter.