Infinite Reality acquires revived music service Napster for $207M
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Summary
Infinite Reality, which has been acquisitive in the buildout of what was formerly known as the metaverse, a virtual world where people can game, work and communicate, has purchased music brand Napster for $207m.
Infinite Reality intends to transform Napster into a music platform with an immersive experience and an audience network comprising sports entities and e-sports organisations including the Drone Racing League.
CEO of Infinite Reality, John Acunto, said the acquisition would “lead to a brighter future for artists, fans and the music industry”.
CEO of Napster, Jon Vlassopulos, said the deal would enable music fans to “experience music in entirely new ways” and predicted that the merger would transform Napster into an “immersive music platform for artists, fans and curators”.