VNUE PROVIDES UPDATE ON ICON METAVERSE PROJECT

News provided by

Mar 14, 2023, 14:18 ET

"Earth Arena," one of multiple virtual arenas, at 90% completion

NEW YORK, March 14, 2023 /PRNewswire/ -- Today VNUE, Inc. (OTC: VNUE) is reporting that its ICON metaverse entertainment venue project – known as the "VNUE Icon Project" a.k.a. "VIP," is getting closer to launch date, as the one of multiple planned virtual festival Arenas stands at approximately 90% completion.

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. Kokku is the developer best known for its work on AAA games such as Guerrilla's Horizon franchise, Activision's Call of Duty: Black Ops – Cold War, and Premium Roblox Experiences including Samsung's Space Tycoon and Netflix' Stranger Things: Starcourt Mall.

Zach Bair, CEO of VNUE, said, "The ICON project is coming along nicely and as expected. Key components, such as our 'Earth Arena' – one of multiple virtual arenas – are at 95% completion; Earth Mini Games elements and other features are through their incremental build process and are awaiting our approvals. I'm very satisfied with the pace at which production is being accomplished, and I can't wait for this exciting technology to be rolled out."

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 and festival venues. 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 ensure rights holders are properly compensated.

The Roblox festival and multi-stage virtual experience will offer a permanent, persistent festival environment with customizable stages for entertainers to take up virtual residencies, while VNUE and our VIP program will power independently commissioned events that utilize repeatable, scalable, and highly creative teams and processes.

Interested artists, labels, managers, agents or others should reach out to VNUE via our website.

About VNUE, Inc
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), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's Soundstr music recognition technology (MRT) (www.soundstr.com). VNUE also recently acquired StageIt (www.stageit.com), one of the oldest and most well-known ticketed live streaming platforms. 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.

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.

SOURCE VNUE, Inc.