Napster just sold for $207 million

7 months ago 8

The once-iconic music-sharing platform Napster just sold for $207 million, according to reporting by CNBC. A company called Infinite Reality ponied up the cash. What could Napster offer in 2025 to warrant such a price tag? Infinite Reality CEO John Acunto says it’ll be used for marketing in the metaverse. In other words, a platform from 1999 will be used as part of a technology that seemingly peaked in 2021. That sounds about right.

More specifically, the company plans on creating virtual 3D spaces for music fans to attend concerts and listening parties, in addition to creating a sales platform for musicians and labels to sell merch. This isn’t the worst idea in the world, as attending these kinds of shared events is probably my f...

Source: https://www.engadget.com/entertainment/music/napster-just-sold-for-207-million-154432315.html?src=rss

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