Since 2016, Napster has been a music streaming service offering on-demand streaming of licensed tracks, currently for $11 per month. It's a small player in a world dominated by Spotify and Apple Music. In 2022, Napster was bought by blockchain company Algorand, whose investors brought in Vlassopulos.
Napster holds official licenses to stream millions of tracks, agreements that were attractive to Infinite Reality, which says that its version of Napster will "disrupt legally." And Algorand's background in blockchain technology was intriguing to Infinite Reality, which also develops Web3 technology, Acunto said.
Alongside streaming music, the combination with Infinite Reality will allow Napster to offer more social features, digital merchandise and shopping.