Veritone Launches Veriverse, a Portfolio of Integrated AI Solutions for Content IP Owners and Individuals Leveraging the Metaverse, NFTs and Blockchain

Rhea-AI Summary

Veritone (NASDAQ: VERI) has launched Veriverse, a suite of AI-driven solutions designed to assist content IP owners in navigating the metaverse. This initiative aims to create new revenue opportunities by integrating traditional media and immersive environments. Veriverse includes tools like Veritone Voice, Veritone Avatar, Veritone NFT, and Veritone Verify, enhancing brand continuity and identity protection. Industry reports suggest the metaverse could represent a market opportunity worth $8 to $13 trillion by 2030, highlighting the potential for significant returns.

Positive

• Launch of Veriverse suite aimed at creating new revenue channels.
• Utilization of AI solutions including Veritone Voice and Veritone NFT to enhance brand security and monetization.
• Strategic positioning in the rapidly growing metaverse market with potential market value estimated between $8 to $13 trillion by 2030.

Negative

• None.

Veriverse to empower customers, rights holders and influencers with the ability to leverage metaverse-ready solutions to create new revenue channels at scale

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, a hyper-expansive enterprise AI platform, today announced the launch of a series of proven AI solutions to open up new distribution, commerce, and revenue opportunities for today’s content IP owners and individuals across multiple digital communities, including the metaverse. Veriverse™ offers a path forward in both traditional media channels and immersive environments to securely create and activate synthetic media, protect and manage identity and assets, maintain brand continuity across channels and safely create and sell NFTs.

Citi is the latest banking giant to call the metaverse and Web3 a multi-trillion dollar opportunity. In its March 2022 report, “Metaverse and Money: Decrypting the Future,” Citi said the metaverse economy could be an $8 to $13 trillion total addressable market by 2030. In research published in December 2021, Goldman Sachs put a $12.5 trillion number on the space, in a bullish outlook that assumed one-third of the digital economy shifts into virtual worlds and then expands by 25 percent. Furthermore, a Gartner® report states, "the metaverse will provide economic opportunities using new kinds of digital business assets and value exchange models. Executive leaders should augment their digital transformation strategy by exploring virtual world product development, brand placement, customer engagement, and financial flows." (Gartner, “How to Increase Customer Engagement and Drive Revenue in the Metaverse”, David Furlonger, Christophe Uzureau, Rajesh Kandaswamy, Feb 8, 2022).

With specific solutions that operate in traditional channels and the metaverse, Veriverse includes:

• Veritone Voice
• Veritone Avatar
• Veritone NFT
• Veritone Verify
• Veritone Metaverse Migration Services

“Disparate metaverses already exist, signaling the emergence of Web3, an extremely fast-growing yet decentralized and disruptive opportunity, and content IP owners and influencers need to be fully enabled to make that transition without sacrificing their brand security, personality and attributes. Veritone is a trusted partner of the largest rights holders in the world and has unmatched expertise in artificial intelligence––including synthetic media, media workflows, advertising and content licensing. We are well positioned to help our current and future customers make the move to, and excel within, the metaverse,” said Ryan Steelberg, President and co-founder of Veritone.

Veritone Voice™ is an AI-enabled custom synthetic voice cloning solution that allows users to securely and ethically create and monetize synthetic voices in real or digitally immersive worlds by acquiring the necessary training data to create a custom voice that can be transformed into different languages, dialects, accents, genders and more.

“Veritone Voice will streamline the way we work with talent in film and TV production, while still creating authentic experiences for audiences,” said Amani Martin, Emmy award-winning director and producer and Managing Partner of Vin Scully Digital.

With Veritone Avatar™, users can create avatars for a broad range of use cases, including advertising, recruiting, patient care, eLearning and customer service.

“What audiences crave in these metaverse experiences is, ironically, human connection,” says Beau Romero, YouTube Influencer, Us Always member. “Bringing such realistic and lifelike avatars to immersive experiences is something I am very passionate about for the next evolution of my brand.”

Veritone NFT™ is a smart contract-enabled NFT minting and marketplace solution for audio, images, and video, including a proprietary minting service exclusive for Veritone clients. The Veritone NFT Marketplace enables approved users to create, buy and sell NFTs.

Veritone Verify™ is a powerful digital security system that provides content owners a way to manage and protect their identity and IP in both traditional channels and digitally immersive worlds. The solution also enables brand continuity and ensures their assets will be licensed and monetized within a centralized ecosystem.

“Individuals who create and own media have a critical need for cohesive solutions that combine content management, IP protection and monetization across real and digital immersive worlds,” Brett Kollmann, YouTube Influencer, Creator and Host of The Film Room. “I’m most excited about ensuring brand continuity while protecting my identity and assets as we create and share content in different ways, including in the metaverse.”

With Veritone Metaverse Migration Services, our industry experts guide companies of all sizes to assess their readiness, map a plan to enter the metaverse, ensure proper licensing of owned content in a metaverse world, establish activation for virtual shopping experiences, VIP events, exclusive engagements, product promotions, or new digital NFTs, and test and scale their migration.

"We are active users of the Veritone Digital Media Hub solution to manage our deep bench of 80+ years of video assets on and off the field," said Paul Hodges, VP of content and entertainment, San Francisco Giants Productions. "When we partnered with Veritone back in 2020, we liked that the AI solution was future-proofed by being cloud and model agnostic. Today, we are seeing a path forward to engaging our fans in the metaverse because of our legacy investment and partnership with Veritone."

To learn more about Veritone’s Veriverse solutions, please visit veriverse.com.

Visit Veritone at the 2022 NAB Show, booth W4716. To schedule a meeting, click here.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Veritone

Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.

To learn more, visit Veritone.com.

Safe Harbor Statement

This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220419005130/en/

Veritone Media Contact:

Valerie Christopherson or Lora Wilson

Global Results Comms (GRC)

+1 949 608 0276

Veritone@globalresultspr.com

Source: Veritone, Inc.

FAQ

What is Veriverse from Veritone (NASDAQ: VERI)?

Veriverse is a suite of AI-driven solutions launched by Veritone, designed to assist content IP owners in creating new revenue opportunities in the metaverse.

What solutions are included in Veritone's Veriverse?

Veritone's Veriverse includes Veritone Voice, Veritone Avatar, Veritone NFT, Veritone Verify, and Metaverse Migration Services.

What is the estimated market size for the metaverse by 2030 according to industry reports?

Industry reports estimate the metaverse could represent a market opportunity worth between $8 trillion and $13 trillion by 2030.

How does Veritone (NASDAQ: VERI) plan to secure brand continuity in the metaverse?

Veritone plans to secure brand continuity through its Veritone Verify solution, which helps manage and protect identity and IP across traditional and digital channels.

What advantages does Veritone Voice offer?

Veritone Voice allows users to create custom synthetic voices ethically and securely, facilitating monetization in both real and immersive worlds.