Napster, formerly a music pirating site turned subscription music service, has sold for $207 million to the immersive technology firm Infinite Reality.

Infinite Reality bought Napster from Hivemind Capital Partners and the blockchain and cryptocurrency company Algorand, which acquired the platform in May of 2022. Napster, launched in 1999 by Shawn Fanning and Sean Parker, quickly became the first signficant peer-to-peer file-sharing application. The original platform was sued into bankruptcy and was later relaunched with a multitude of different owners over the years, Rhapsody eventually purchasing it from Best Buy in 2011 and relaunching it as a music streaming service.

Infinite Reality's hope is to transform Napster into “a social music platform that prioritizes active fan engagement over passive listening” and cultivate a place for artists to be able to “connect with, own and monetize the relationship with their fans", as mentioned in a press release. Infinite Reality's plans include creating virtual 3D spaces to hold virtual concerts and community-based experiences like social listening parties for fans to enjoy, offering artists the tools to sell physical and virtual merchandise, digital content, and event tickets, as well as an increased range of analytics allowing artists to better understand audience behaviors. “We can think of no better use case for our technology than putting it in the hands of music artists who are constantly pushing the boundaries of what’s possible,” said Infinite Reality’s chief business officer, Amish Shah.

“I firmly believe that the artist-fan relationship is evolving, with fans craving hyper-personalized, intimate access to their favorite artists, while artists are searching for innovative ways to deepen connections with fans, and access new streams of revenue,” said Co-Founder and CEO of Infinite Reality John Acunto. “We’re creating the ultimate music platform where artists can thrive in the next wave of digital disruption.”

Infinite Reality also plans to integrate Napster with the other entertainment assets it owns, such as the Drone Racing League and esports organizations that host tournaments for well-known games such as "League of Legends" and "Call of Duty".

Napster CEO Jon Vlassopulos will continue to lead the brand as it navigates this new development. Former vice president and global head of music at Roblox, Vlassopulos became Napster's CEO in 2022. “The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era. Yet, music streaming has remained largely the same. It’s time to reimagine what’s possible,” Vlassopulos commented in a blog post.