Music tech firm VNUE plans to list on NASDAQ with $15m+ raise – Music Business Worldwide

Music tech firm VNUE has partnered with Kokku, claimed to be South America’s ‘largest gaming and entertainment co-development firm”, to bring what a press release calls “a continuous VNUE Festival and multi-stage experience” to kids gaming platform Roblox in Q1 2023.

Nevada-headquartered VNUE, a publicly traded company on the OTC markets, also says that it has “retained” ICON Capital Group to raise $15 million “or more”, in order to list on the NASDAQ Stock Market over the coming months.

According to a press statement, Zach Bair, CEO & Chairman of VNUE and his Special Advisor, entrepreneur Jock Weaver, “put together the deal with ICON Capital Group to move the company to NASDAQ”.

VNUE says on its website that creates “enterprise-level tools for artists, managers, labels, publishers, and venues to capture and distribute content”.

The company claims that its deal with Kokku will give it a dominant global metaverse market position.

VNUE said in its press statement that its VNUE festival in Roblox’s is “Phase One” of its plans to develop a “simple, seamless process for the creation, promotion, distribution, and management of interactive online gaming and streaming events”.

The company claims further that with its virtual VNUE festival, “brands and sponsors will find rich partnership opportunities through naming rights, in-world activations, and brand positioning opportunities”.

The virtual festival will operate “continuously”, according to VNUE with both free and ticketed concerts, music launches, listening parties and more each day across multiple themed and customizable stages.

Fans will get access to interactive games, missions, and eMerch via the virtual festival. Partners, sponsors, and official music curators will be announced in coming months, said VNUE.

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.”

“The move to NASDAQ is long overdue in my opinion, but timing is indeed everything.”

Zach Bair, VNUE

Added Bair: “The move to NASDAQ is long overdue in my opinion, 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.

“Rapidly evolving technology and post-quarantine consumption indicate that the virtual space is a crucial marketplace for the discovery, interaction, and consumption of entertainment.”

Jim King, VNUE

Jim King, VNUE’s CTO added: “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.”

“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.”

Thiago de Freitas, Kokku

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.”

VNUE acquired online concert platform StageIt in July last year.Music Business Worldwide