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Music Pioneer Napster Sells For $207 Million
Infinite Reality, a 3D technology company, has acquired Napster for $207 million, the companies announced Tuesday. The deal aims to transform the once-notorious music sharing service into a metaverse platform. Napster, launched in 1999 by Shawn Fanning and Sean Parker, was the first major peer-to-peer file-sharing application before legal battles forced its closure in 2001. Since 2016, it has operated as a subscription streaming service. Infinite Reality plans to create virtual 3D spaces where music fans can experience concerts together and artists can sell merchandise. Read more of this story at Slashdot.
Infinite Reality, a 3D technology company, has acquired Napster for $207 million, the companies announced Tuesday. The deal aims to transform the once-notorious music sharing service into a metaverse platform.
Napster, launched in 1999 by Shawn Fanning and Sean Parker, was the first major peer-to-peer file-sharing application before legal battles forced its closure in 2001. Since 2016, it has operated as a subscription streaming service. Infinite Reality plans to create virtual 3D spaces where music fans can experience concerts together and artists can sell merchandise.
Read more of this story at Slashdot.
