Napster. Now there’s a reputation you haven’t heard in a number of years… or extra doubtless a long time. Now, immersive internet firm Infinite Actuality introduced it’s acquired the model for $207 million.
Having simply closed a $3 billion funding in January, Immersive Actuality says the Napster music streaming service will quickly embody a “social music platform” that may embody branded 3D digital areas for digital live shows and listening events.
Moreover, the corporate says Napster may even promote each bodily and digital merchandise, unique digital content material, and occasion tickets.
“By buying Napster, we’re paving a path to a brighter future for artists, followers, and the music trade at giant,” mentioned John Acunto, Infinite Actuality co-Founder and CEO. “This strategic transfer aligns with Infinite Actuality’s imaginative and prescient to steer an web trade shift from a flat 2D clickable internet to a 3D conversational one – giving all creators trendy instruments to raised interact, monetize, and measure their audiences.”
CEO Jon Vlassopulos, previously of Roblox, will proceed main Napster, noting he envisions a next-generation platform the place followers can work together with artists in 3D digital areas, making music consumption extra social and immersive.
Based in 2019, Infinite Actuality’s flagship product is iR Studio, an engine for constructing immersive web sites, replete with social digital environments and avatars. iR Studio websites assist WebXR by default, which means any XR headset that helps WebXR can entry it instantly by an online browser.
Whereas the corporate hasn’t mentioned as a lot, we’d anticipate Immersive Actuality to leverage iR Studio in future Napster digital live shows, which might ostensibly embody assist for Quest and PC VR headsets.
This isn’t the primary time the Napster model has modified fingers since its 2002 chapter, which was attributable to its platform permitting for unlicensed P2P sharing of music, attracting the ire of rock band Metallica. Over time, the corporate has been acquired by a laundry listing of firms that hoped to leverage the model’s broad attraction, most not too long ago turning the one-time music sharing platform right into a subscriber-based music streaming platform.
Apparently, Immersive Actuality additionally isn’t the primary XR-focused firm to buy Napster both. In August 2020, London-based digital live performance firm MelodyVR acquired Napster for $70 million, which hoped to carry immersive video live shows to VR headset customers. Previous to the Immersive Actuality acquisition, Napster’s most up-to-date proprietor was blockchain firm Algorand, which hoped to decentralize music.
