Source: Cointelegraph Original: "{title}"

Artificial intelligence startup Infinite Reality has acquired the music piracy app Napster for $207 million, transforming it into a music streaming service and planning to add a music-themed metaverse.

Infinite Reality stated in a press release on March 25 that Napster will provide "branded 3D virtual spaces," allowing for virtual concerts and "social listening parties," as well as offering virtual goods.

"Imagine walking into a virtual venue, watching an exclusive performance with friends, chatting with your favorite artist in their own virtual party space when they release a new single, and being able to purchase their exclusive digital and physical merchandise directly," said Jon Vlassopulos, CEO of Napster.

He added, "The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era."

"The most legendary collaboration, Infinite Reality has acquired the iconic online music brand @Napster. Through this acquisition, we will expand and reimagine Napster, providing artists with new audience monetization and engagement capabilities, and with iR's #imersive… pic.twitter.com/L4Fig7QFct

Infinite Reality also mentioned that it plans to allow Napster to enable musicians to use AI customer and community management agents, as well as analytics dashboards to track fan behavior and cross-promote with other entertainment properties like esports teams.

Source: Napster

John Acunto, co-founder and CEO of Infinite Reality, stated that the team aims to lead "the internet industry from a flat, two-dimensional click-based web to a three-dimensional conversational web."

Infinite Reality indicated that the acquisition of Napster will be completed in a few weeks. According to the company, it hopes to develop the Napster brand into a leading immersive music platform for artists, fans, and curators through audience monetization and engagement capabilities.

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