LIVEONE, POLYGON AND CERE NETWORK PARTNER TO LAUNCH NFT PLATFORM AND UTILITY TOKEN FOR MUSIC/METAVERSE AND GAMIFYONE ENTERTAINMENT OFFERINGS
LOS ANGELES, February 23, 2022 /PRNewswire/ — Live One (Nasdaq: LVO), a creator-driven music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships, subscriptions and subscriptions. Live and Virtual Events, announced today that it plans to launch its own membership token in partnership with Polygon Network and Cere.
Additionally, LiveOne will collaborate with the DaVinci NFT Platform (a joint venture of Polygon and Cere Network) to enable LiveOne creators, talent, and artists to launch NFTs and NFT-supported experiences and create the LiveOne NFT Marketplace. The NFTs will be minted on the Polygon blockchain, which is an eco-friendly layer two solution compatible with Ethereum.
The new LiveOne Membership Token will be available to LiveOne’s more than 2 million paying and free (via play-to-win)** members, shareholders and artists. It can be earned and redeemed in a multitude of activities, including spending time on LiveOne’s platform, listening to music and podcasts/vodcasts, attending events/festivals, virtual and in-person socializing and purchase goods, as well as interacting on the LiveOne platform and the metaverse. From time to time, LiveOne also plans to release discounts and unlock benefits for current holders of tokens and/or certain NFTs.
“The digital marketplace is changing the way artists and creators monetize content and connect with their audiences,” said Robert Ellin, Chairman and CEO of LiveOne. “As we transition to Web 3.0, we want to put the power directly in the hands of creators and users. LiveOne has always put talent and fans first, and with blockchain technologies opening new doors for interaction, we are excited to offer artists and our members deeper and exclusive experiences.”
Sandeep Nailwal, Co-Founder of Polygon, said, “By leveraging DaVinci, LiveOne has the potential to transform the creator economy, providing artists with a more equal path to monetize their content safely while encouraging direct interaction with fans. , LiveOne creators will be able to mint, transfer and sell their creations in an inexpensive, efficient and environmentally friendly way.”
“Today’s NFT offerings barely scratch the surface of what’s to come,” said Fred Jin, CEO of Cere Network. “With LiveOne, we transform incredible music, film and art experiences into personalized NFT collectibles that truly deepen the artist-fan connection.”
Token issuances and NFT releases must be conducted in accordance with applicable laws.
About LiveOne, Inc.
Based at Los Angeles, California, Live One, Inc. (NASDAQ: LVO) (the “Company”) is a creator-driven music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships , subscriptions and live and virtual events. From January 2022, the company has amassed a paid subscriber base of over 1.35** million, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, 268 podcasts/vodcasts, hundreds of pay-per-views, custom merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company’s wholly-owned subsidiaries include lazy radio, React present, Gramophone Media, Palm Beach RecordsCustom Personalization Solutions, LiveXLive, PPVOne and Podcast One, which generates over 2.48 billion downloads per year and distributes over 300 episodes per week on its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire and via OTT, STIRR and XUMO. For more information, visit www.liveone.com and follow us on Facebook, instagram, ICT Tacand Twitter.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products provides developers with easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, standalone and enterprise chains, data availability, etc. Polygon’s scaling solutions have been widely adopted with over 7,000 hosted applications, over 1 billion transactions processed, approximately 100 million unique user addresses, and over $5 billion in assets secured.
If you are an Ethereum developer, you are already a Polygon developer! Take advantage of Polygon’s fast and secure txns for your dApp, get started here.
About the Cere Network
Cere Network is the first Decentralized Data Cloud (DDC) platform based on Substrate and Polygon. Cere is the first Web3 project that facilitates trustless cloud data storage, integration, and collaboration on blockchain networks, as well as Web3 NFT, metaverse, and gaming content. Cere is backed by top institutions and projects around the world, including Binance Labs, Republic Labs, and Polygon.
More information on the Cere network:
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All statements other than statements of historical fact contained in this press release are “forward-looking statements”, which can often, but not always, be identified by the use of words such as “may”, “could”, ” will”, “probably result”, “will result”, “should”, “estimate”, “plan”, “project”, “expect”, “intend”, “expect”, “anticipate” , “believe”, “seek”, “continue”, “target” or the negative form of these 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 dependence to a key customer for a substantial percentage of its turnover; the Company’s ability to complete any proposed financing, acquisition, spin-off, distribution or transaction, the timing of the closing of such proposed event, including the risks that any closing condition will not be satisfied in the expected timeframe or not at all, or that the closing of any proposed financing, acquisition, spin-off, distribution or transaction will not occur or whether such event will increase shareholder value; the Company’s ability to continue as a going concern; the Company’s ability to attract, retain and increase the number of its paying users and subscribers; the Company identifying, acquiring, securing and developing content; the Company’s intention to repurchase Common Shares from time to time under its announced share 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 is successfully implementing its growth strategy, including with respect to its technology platforms and applications; management’s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competetion; the risks and uncertainties applicable to the activities 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, 2021filed with the United States Securities and Exchange Commission (the “SEC”) on July 14, 2021Quarterly report on Form 10-Q for the quarter ended June 30, 2021filed with the SEC on August 16, 2021Quarterly report on Form 10-Q for the financial quarter ended September 30, 2021filed with the SEC on October 29, 2021Quarterly report on Form 10-Q for the financial quarter ended December 31, 2021filed 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 obligation to update these statements, except as 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 subscribers for the periods reported are certain subscribers who are the subject of a contractual dispute. LiveOne does not currently recognize revenue related to these subscribers.
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