VNUE, INC. MOVES TO ACQUIRE DOMINANT GLOBAL METAVERSE MARKET POSITION WITH DEVELOPMENT DEAL, PLANS TO UPLIST TO NASDAQ WITH $15+MM RAISE
VNUE, Inc. (OTC: VNUE) has partnered with Kokku to develop a continuous entertainment experience on Roblox, set to launch in Q1 2023. This move aims to tap into Roblox's 50 million active users and includes plans to raise $15 million for NASDAQ listing. The VNUE Festival will feature interactive online events with monetization opportunities for artists through its Soundstr technology. CEO Zach Bair highlighted the potential for increased brand partnerships and innovative entertainment monetization strategies in the growing metaverse sector.
- Partnership with Kokku aims to enhance VNUE's presence in the metaverse.
- Plans to raise $15 million to support NASDAQ listing.
- VNUE Festival on Roblox targets over 50 million active users, expanding market reach.
- New revenue streams for artists through Soundstr technology.
- No financial metrics disclosed regarding the expected revenue from the Roblox venture.
- Potential risks associated with raising funds and moving to NASDAQ amid market conditions.
Company to build Roblox persistent entertainment experience in partnership with Kokku, the largest Brazilian Co-development company, known for its contribution on AAA games such as Guerrilla's Horizon franchise and Premium Roblox Experiences such as Samsung's "Space Tycoon" and Netflix' "Stranger Things: Starcourt Mall"
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NEW YORK, Oct. 27, 2022 /PRNewswire/ -- VNUE, Inc. (OTC: VNUE) announced today that the company has partnered with Kokku, South America's largest gaming and entertainment co-development firm, to bring a continuous VNUE Festival and multi-stage experience on Roblox (NYSE: RBLX) in Q1 of 2023.
Additionally, VNUE has retained ICON Capital Group to raise
Bringing the VNUE festival to Roblox's more than 50 million active users worldwide is Phase One of the company's plans to develop a simple, seamless process for the creation, promotion, distribution, and management of interactive online gaming and streaming events.
As VNUE shapes the future of distributing entertainment into the metaverse, brands and sponsors will find rich partnership opportunities through naming rights, in-world activations, and brand positioning opportunities. Artists will be compensated through the VNUE performance agreement model and earn their performance royalties, tracked by VNUE's Soundstr music recognition technology (MRT).
VNUE Festival Entertainment Space – The VNUE festival will operate continuously, presenting both free and ticketed concerts, music launches, listening parties and more each day across multiple themed and customizable stages. Fans will experience interactive games, missions, eMerch as well as parental controls for Roblox's young audience. Partners, sponsors, and official music curators will be announced in coming months.
Zach Bair, CEO & Chairman of VNUE, said, "VNUE has a long history of creating and delivering innovative forms of music entertainment monetization, for example set.fm and StageIt, and we are expanding dramatically into a new world of channel opportunities, production services, and new deployment opportunities for core technology such as the Soundstr music identification and royalty administration services for the metaverse – the first of its kind. The strategic partnership with Kokku, a proven and top-rated game and graphics design firm, will unfold with highly valuable client services and together we will build our iconic, virtual "venues" where entertainers in music, comedy, sports, and more will take up virtual residency."
Jim King, VNUE's CTO said, "Virtual entertainment is now a global enterprise with worlds of opportunity for branding and partnerships. We found the right partner in Kokku, whose established impact globally and large presence in South America ensures that we are able to not only build these worlds, but also facilitate each step of the virtual event execution process. Rapidly evolving technology and post-quarantine consumption indicate that the virtual space is a crucial marketplace for the discovery, interaction, and consumption of entertainment. In our recent acquisition of livestreaming company StageIt and our partnership with Kokku, we are creating fun, interactive, and monetized musical, comedy, and other entertainment stages and festival concourses where fans are engaged and entertained before, during, and after shows."
Thiago de Freitas, Kokku's CEO, said, "We're pleased to join forces with VNUE to bring a persistent entertainment experience to the Roblox platform. Our Metaverse Division together with VNUE is ready to bring concerts to a wider audience through the use of technology and creativity, bridging the gap between real world, the virtual and entertainment. We look forward to creating great and accessible experiences for all users."
Bair and his Special Advisor, well-known entrepreneur Jock Weaver, put together the deal with ICON Capital Group to move the company to NASDAQ.
"The move to NASDAQ is long overdue in my opinion," said Bair, "but timing is indeed everything. This exciting new project – bigger than anything we have ever done – is exactly the type of catalyst that can propel the company into a new dynamic where our faithful shareholders will enjoy the fruits of our labor and the company can have the bandwidth we need to fully execute on our disruptive technologies."
About VNUE, Inc. (www.vnue.com): VNUE, Inc., (OTC: VNUE) is a multi-faceted music technology company dedicated to monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), its ticketed livestream platform, StageIt (www.stageit.com), and protecting the rights of artists and writers with the company's Soundstr music recognition technology (MRT) (www.soundstr.com). The company is also exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), providing fans with physical, collectible products such as limited edition CD sets, by artists such as matchbox twenty, Rob Thomas and many others. The veteran entrepreneurs, artists and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com), are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology.
About Kokku: Kokku (www.kokku.com.br) is a leading co-development company based in Brazil, delivering high quality assets and products ranging from Art Outsourcing to Full Game Development, including Porting and Remastering, among others. Known for its work with major publishers and developers such as Microsoft, Eletronic Arts, Guerrilla Games, Activision, Tencent, Samsung, Warner Bros and Netflix, Kokku has taken part in the production and development of some of the greatest worldwide franchises like Horizon Zero Dawn, Horizon Forbidden West, Call of Duty Black Ops: Cold War, and the award winning The Forgotten City; and was responsible for bringing to the Roblox universe acclaimed pop culture titles like Netflix's Stranger Things: Starcourt Mall, Samsung Space Tycoon, and Warner's Wonder Woman: Themyscyra Experience.
Safe Harbor
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
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SOURCE VNUE, Inc.
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