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.

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