Live Current Media Inc. Signs LOI to Implement Cascade Live Inc.’s Web3 Infrastructure

Rhea-AI Summary

Live Current Media (OTCQB:LIVC) has signed a letter of intent with Cascade Live Inc. to enhance its Kast video streaming platform by integrating a web3 e-commerce and ticketing solution. The partnership aims to empower creators by enabling live transactions, facilitating monetization across various digital content types. The creator economy is booming, with around 200 million creators generating over $100 billion in 2021. This collaboration positions Kast to better serve the growing demand for digital content monetization tools, leveraging Cascade's enterprise-grade technology.

Positive

• Signed letter of intent with Cascade Live Inc. to enhance Kast platform.
• Integration of e-commerce and ticketing solutions provides monetization tools for creators.
• Kast targets a growing creator economy estimated at over $100 billion.

Negative

• None.

Facilitating the growth of the Creator economy on Kast.gg.

SAN DIEGO, CA / ACCESSWIRE / September 9, 2022 / Live Current Media, Inc. ("Live Current" or the "Company" - OTCQB:LIVC) announces that it has signed a letter of intent ("LOI") to collaborate on a project to augment the current product offering of Kast and to incorporate Cascade Live Inc.'s ("Cascade") e-commerce and ticketing solution into Live Current's Kast video streaming platform.

"The creator economy is growing at an exhilarating pace. Creators deserve to participate in the business side of that growth, and to that end, we're helping by providing the tools needed to monetize their efforts on Kast including by incorporating live transactions into their repertoire of antics that encourage our community members to continue enjoying the Kast experience," said Live Current CEO Mark Ollila.

Kast performed a comprehensive evaluation of the leading web3 developer platforms and selected Cascade as the platform that will power creator experiences on Kast as it is the only platform that is enterprise grade, provides enough flexibility to create custom, smart contract templates and custom workflows and embed them on top of the existing web 2.0 infrastructure.

According to Statista, currently there are approximately 200 million creators and in 2021, Forbes Magazine estimated that the creator economy generated more than $100 billion. Creators by definition create content, mostly digital, that is enjoyed by audiences worldwide. And they justifiably wish to be compensated for their efforts through a variety of ways including advertising, sponsorships, subscriptions and ecommerce transactions.

About Cascade

Cascade provides an end-to-end middleware development platform for web3. Cascade offers a chain and language agnostic developer environment. Cascade powers enterprises and gives them ability to manage all their smart contracts and custom workflows across different blockchains in a single environment. Cascade is compliant with enterprise best practices and enables companies to accelerate development and time-to-market with reusable "modules" and smart contract templates.

About Live Current Media Inc.

Live Current Media Inc. is a media technology company operating the Kast watch party platform. Kast is a virtual living room where friends gather to watch movies, play games and be together. Kast is at the intersection of the fast-growing markets of Live Events, Social Media, Video Streaming and gaming with its multi-channel watch party solution. The platform is available on the web, iOS and Android and offers a limited free subscription service and an enhanced premium subscription with higher bandwidth and greater functionality.

On behalf of the board of directors of Live Current Media Inc.

Mark Ollila, CEO & Director
For more information please contact:
David Jeffs
david@livecurrent.com
www.livecurrent.com
http://www.kastapp.co/

All statements in this press release that are not statements of historical fact are forward-looking statements, including any projections of growth, earnings, revenue, cash or other financial items, any statements of the plans, strategies, objectives and goals of management for future operations, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, general economic conditions particularly as they relate to demand for our products and services; competitive factors; changes in operating expenses; our ability to raise capital as and when we need it and other factors. Live Current Media, Inc. assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so.

SOURCE: Live Current Media Inc.

View source version on accesswire.com:
https://www.accesswire.com/715354/Live-Current-Media-Inc-Signs-LOI-to-Implement-Cascade-Live-Incs-Web3-Infrastructure

FAQ

What is the significance of Live Current Media signing a letter of intent with Cascade Live Inc.?

The letter of intent signifies a strategic collaboration aimed at enhancing the Kast platform by incorporating e-commerce and ticketing solutions, which could provide new monetization opportunities for creators.

How does the integration of Cascade's solution affect Live Current Media's stock (LIVC)?

The integration could positively influence LIVC's stock by potentially increasing user engagement and revenue through enhanced monetization tools in the growing creator economy.

What is the market size of the creator economy as mentioned in the press release?

The creator economy is estimated to include around 200 million creators, generating over $100 billion in revenue in 2021.

What platform will be enhanced by the collaboration with Cascade Live Inc.?

The collaboration aims to enhance the Kast video streaming platform with new e-commerce and ticketing capabilities.

Who is the CEO of Live Current Media and what did he say about the creator economy?

Mark Ollila, the CEO of Live Current Media, emphasized the importance of providing creators with tools to monetize their efforts in the growing creator economy.