LiveXLive Media (LIVX) Gains After Launching NFT Division
- S&P 500, Dow hit record highs on upbeat earnings, strong retail sales
- Thermo Fisher Scientific (TMO) to Acquire PPD, Inc. (PPD) for $47.50/sh, $17.4 Billion
- U.S. retail sales surge; weekly jobless claims drop to one-year low
- Dell (DELL) Gains on Spin-Off of its 81% Stake in VMware (VMW), Analysts Bulled-Up as It Could Unlock $20 Per Share of Value for DELL
- Cathie Wood's ARK Buys 750K Shares of Coinbase (COIN), Sells 240K Shares of Tesla (TSLA)
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
LiveXLive Media (Nasdaq: LIVX) gained 9% intra-day after the company announced today that it will launch NFTs (non-fungible tokens) and digital art content division that will focus solely on the creation, production, promotion, and selling of NFTs as part of LiveXLive's robust multi-faceted businesses that encompass original video content, pay-per-views, mega events, podcasting and vodcasting, merchandise and audio businesses.
LiveXLive plans to collaborate with artists to create, promote and sell NFTs in the form of music, merchandise, photographs, tickets, posters and experiences. This is another avenue that LiveXLive has created to provide multiple revenue streams benefiting artists. Launching with 100 limited edition of the first ever NFT festival poster for Music Lives, LiveXLive's annual virtual music festival.
NFTs, or non-fungible tokens, are a type of digital asset where ownership is recorded on a digital ledger blockchain. Each NFT is unique and can be viewed as a collectible that cannot be duplicated, making them singular and potentially valuable. NFTs can represent digital files, such as art, audio, videos, posters, album art and other forms of creative work.
"There is potentially significant value in building a dedicated business to support these new forms of digital assets from both a monetization and promotional perspective. Our events across music, pop-culture, gaming, pay-per-view, podcasting/vodcasting and audio align perfectly with the value proposition NFTs represent to superfans and collectors across the world," stated Robert Ellin, Chairman and CEO of LiveXLive.
LiveXLive's platform offers livestream concerts, festivals, music news, docu-reality series and interviews, as well as on-demand audio and audio playlists and vodcasts/podcasts. LiveXLive has powered global pay-per-view and livestream hits with some of the world's most renowned talent, including Billie Eilish, Billy Joel, Blake Shelton, BTS, Camila Cabello, Dua Lipa, Harry Styles, J Balvin, Jennifer Lopez, Kacey Musgraves, Kygo, Madonna, MonstaX, Paul McCartney, Pitbull, Taylor Swift, Wiz Khalifa, and Yungblud.
LiveXLive's live-stream PPV initiative was created as a revenue-share model to support artists during a time when concerts and touring are at a standstill. LiveXLive's PPV platform allows artists to go direct-to-consumer and perform full-length concerts and shows with unique behind-the-scenes footage, docu-reality-style coverage coupled with premium tiered pricing with tickets that include VIP experiences, exclusive merchandise, digital meet-and-greets, and other event-exclusive perks.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alimera Sciences (ALIM) Announces Ocumension Therapeutics Acquired Exclusive License Worth up to $99M, Makes $10M Investment
- Norwegian Cruise Line (NCLH) Premieres New Docuseries Tonight with "Great Cruise Comeback" Episode
- NovoCure Ltd. (NVCR) PT Raised to $242 at Mizuho Securities
Create E-mail Alert Related CategoriesCorporate News, Momentum Movers, Trader Talk
Related EntitiesTwitter, Stock Buyback, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!