If you were a 90s kid, you will have heard of, if not used for yourself, this little software known as Napster. It was one of the most used music – and half the time, malware – sharing platform that went defunct, then went legit, sort of. Now, it’s changing hands again, to the tune of US$207 million (~RM917.32 million), with the new owner being spatial computing startup Infinite Reality.
Said startup says that, with the purchase, it is turning Napster into a “social music platform that prioritises fan engagement”. Of course, it’s not all sweetness and light, because ultimately, this allows artists to not only interact with fans, but also to “own, and monetise the relationship” with them.
Putting it more plainly, the acquisition will mean Napster can be used by artists to create branded 3D virtual concerts, sell physical and virtual merch, and get AI-powered customer service ad analytics. John Acunto, Co-Founder and CEO of Infinite Reality, says that “by acquiring Napster, we’re paving a path to a brighter future for artists, fans, and the music industry at large”.
The Napster name has changed hands multiple times since its initial inception in 1999. It did its thing for two years before going bankrupt in 2001, which then saw the name go to Roxio the next year and turned into an e-commerce site for digital music. It then stayed in this form while being sold to Roxio, and then Best Buy. Before Infinite Reality entered the scene, it was sold one last time to a blockchain consortium for something web3 related.
(Source: Infinite Reality)
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