VNUE, INC. REPORTS PROGRESS ON METAVERSE ICON PROJECT

Rhea-AI Summary

VNUE, Inc. (OTC:VNUE) is introducing a virtual ticket booth as part of its VNUE Icon Project, aimed at generating revenue through ticket sales within the metaverse. This innovative approach seeks to replicate traditional ticketing economics, which have been dominated by companies like Ticketmaster. In partnership with Kokku, a Roblox developer, VNUE aims to create a persistent multi-stage festival experience on Roblox, which boasts over 50 million daily active users. The VNUE Fest will continuously offer free and ticketed events, including concerts and listening parties, while also providing interactive elements and eMerch. VNUE's Soundstr MDM platform will ensure compensation for rights holders. CEO Zach Bair emphasizes their commitment to monetizing the metaverse.

Positive

• Introduction of a proprietary virtual ticket booth expected to generate revenue.
• Partnership with Kokku to develop a unique multi-stage festival on Roblox.
• Access to 50+ million active daily users on the Roblox platform.
• Continuous operation of VNUE Fest offering diverse events and experiences.

Negative

• None.

"Virtual Ticket Booth" Introduces New Concept to Project

NEW YORK, April 20, 2023 /PRNewswire/ -- VNUE, Inc. (OTC:VNUE) is introducing an interesting and innovative concept into its metaverse project – known as the "VNUE Icon Project" a.k.a. "VIP." VNUE's proprietary virtual Ticket Booth is under construction, and will offer the stream of revenue and profits associated with actual ticket sales.

Traditional ticketing, largely controlled by Ticketmaster and others, has long been an important revenue component to the artist, tour, event, venue and festival economics.  By introducing the virtual Ticket Booth, the company brings these types of economics to the metaverse with the activation, sales, receipts management, and ticket distribution, through the company's persistent festival and stage platform.

As previously reported, VNUE is working with South American Premiere Roblox developer Kokku to build the first ever persistent multi-stage music & entertainment festival experience which will initially be deployed on Roblox's platform, with 50+ Million active daily users worldwide.

Zach Bair, CEO of VNUE, said, "We continue to be excited about ICON – and VNUE is continuing to lead the way in creating new channels to monetize new streams of revenue in the explosive world of the metaverse."

The VNUE Fest Entertainment Space 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, NFTs, as well as parental controls for Roblox's young audience.

In offering every facet of a true metaverse event production house, VNUE will deliver live and recorded performances within multi-dimensional, experiential virtual worlds, and will track musical performances with VNUE's Soundstr MDM platform, to help ensure rights holders are properly compensated.

Interested artists, labels, managers, agents, brands or others should reach out to VNUE via our website.  For more information about VNUE or any of the Company's products and initiatives, please visit www.vnue.com.

Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate, "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations, and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations, or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

 

View original content:https://www.prnewswire.com/news-releases/vnue-inc-reports-progress-on-metaverse-icon-project-301803153.html

SOURCE VNUE, Inc.

FAQ

What is the VNUE virtual ticket booth introduced in the press release?

The VNUE virtual ticket booth is a new concept aimed at generating revenue through ticket sales within the metaverse as part of the VNUE Icon Project.

What platform is VNUE partnering with for its Icon Project?

VNUE is partnering with Kokku, a Roblox developer, to create a persistent multi-stage music and entertainment festival experience.

How many daily active users does Roblox have that VNUE plans to reach?

Roblox has over 50 million active daily users, which VNUE aims to engage with its festival experience.

What types of events will VNUE Fest include?

VNUE Fest will include free and ticketed concerts, music launches, and interactive events across multiple themed stages.

How does VNUE ensure rights holders are compensated?

VNUE tracks musical performances using its Soundstr MDM platform to ensure proper compensation for rights holders.