LIVEONE PARTNERS WITH GO DIGITAL TO EXPAND NFT PLATFORM AND OFFICIALLY LAUNCH GAMIFYONE IN THIS QUARTER

Rhea-AI Summary

LiveOne (NASDAQ: LVO) announced its partnership with Go Digital to launch GamifyOne, a live social music gaming platform set to launch this quarter. This innovative platform will gamify music stock trading, crypto trading, and NFTs, offering LiveOne members exclusive discounts, prizes, and virtual meet-and-greets. The collaboration aims to enhance LiveOne's NFT offerings through the joint venture with Polygon and Cere Network. With a membership base exceeding 2.1 million and a library of 30 million songs, LiveOne continues to expand its digital footprint.

Positive

• Launch of GamifyOne expected to enhance user engagement.
• Partnership with Go Digital and integration of Polygon and Cere Network improves NFT offerings.
• Gamified crypto and music trading could attract a broader audience.

Negative

• None.

New Platform Gamifies NFTs, Crypto Trading, Offering LiveOne Members Exclusive Content, Discounts, Prizes Including Virtual Meet & Greets and Teslas

Partnership Will Expand LiveOne's NFT Platform with Cere Network and Polygon

LOS ANGELES, April 1, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today its partnership with Go Digital to launch GamifyOne, the live social music gaming platform, that will feature a slate of new interactive original show formats based on music, entertainment and artists. This new partnership will also expand LiveOne's new NFT platform with DaVinci (a joint venture of Polygon and Cere Network).

Expected to launch this quarter, GamifyOne will kick off with gamified trading of music stocks, gamified crypto trading, LiveOne membership token, NFTs and access to all LiveOne content. It will also feature educational videos to engage LiveOne members and consumers, while gamifying crypto trading where users can earn points and redeem them for digital assets, prizes and exclusive digital experiences from LiveOne's subsidiaries and partners.

Go Digital's technology allows members to track their progress against a dedicated leaderboard, monitoring their achievements through limited edition customizable badges and encouraging user-created content through interaction and team activities. LiveOne and Go Digital NFT platform will also allow users to buy and sell LiveOne NFT offerings through credit card payments.

"We are excited to build the GamifyOne platform and LiveOne membership with Go Digital," said Robert Ellin, Chairman and CEO of LiveOne. "This new collaboration will provide LiveOne members with exclusive and original content, talent meet and greets, prizes and points while keeping them informed about crypto trading, new NFT opportunities, and LiveOne exclusive offers."

LiveOne made history in 2021 with the launch of the first-ever NFT music festival poster for its global streaming event Music Lives, and again, as the first-ever pay-per-view ("PPV") event to offer an NFT with every PPV livestream purchase of Social Gloves: Battle of the Platforms. The event also offered fans limited edition NFT trading cards and coins.

About LiveOne, Inc.

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. As of March 1, 2022, the Company has accrued a paid and free membership base of over 2.1 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, nearly 270 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter, Instagram, TikTok, and Twitter at @liveone.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 14, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 16, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021, filed with the SEC on October 29, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2021, filed with the SEC on February 14, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.

Press Contact:
LiveOne
aileen@liveone.com 
917.842.9653
aavidon@lvieone.com
516.522.1349

LiveOne IR Contact:
IR@liveone.com 
310.601.2505

 

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SOURCE LiveOne, Inc.

FAQ

What is GamifyOne by LiveOne (LVO)?

GamifyOne is a new live social music gaming platform that will offer gamified trading of music stocks, crypto, and NFTs, launching in the current quarter.

What are the benefits of LiveOne's partnership with Go Digital?

The partnership aims to expand LiveOne's NFT platform, offering exclusive content, discounts, and prizes to its members.

When is GamifyOne expected to launch?

GamifyOne is expected to launch within the current quarter.

How many members does LiveOne (LVO) have?

LiveOne currently has over 2.1 million paid and free members.

What unique features will GamifyOne include?

GamifyOne will include features such as a leaderboard, customizable badges, educational videos, and the ability to earn points redeemable for prizes.