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24/7 Market News: VENU's Crypto Strategy- Tokenizing the Live Events Boom
Globenewswireยท 2025-09-22 13:30
Core Insights - VENU (NYSE American: VENU) is set to launch a blockchain-powered digital platform in early 2026, aiming to enhance ticket sales and audience engagement through tokenized memberships and a "soft ticketing" system [1][2][3] Group 1: Company Strategy and Vision - VENU's founder, J.W. Roth, projects $2 billion in annual ticket sales by 2030 across multiple venues, emphasizing that blockchain integration will significantly boost ticket sales and audience reach [2][3] - The company has a $1.3 billion construction pipeline, with a potential to scale ticket revenue to $1 billion or more in the near term through its digital strategy [2][3] - The live events market is expected to grow from $466 billion in 2025 to $652 billion by 2032, with digital ticketing already accounting for 40% of sales [3] Group 2: Digital Platform Features - VENU's platform aims to extend its reach into various digital spaces, enhancing live-streamed entertainment and creating new fan engagement experiences [3][4] - Key features include tokenized memberships and rewards, allowing fans to earn $VENU tokens for participation, which can be redeemed for various perks [7][8] - The platform will facilitate low-fee transactions through NFTs, potentially increasing revenue by 20-30% by eliminating traditional ticketing fees [6][7] Group 3: Market Dynamics and Growth Potential - The integration of blockchain technology is expected to drive 25% of sales by 2028, with NFTs transforming tickets into tradable assets [7][8] - VENU's physical assets, such as the 8,000-seat Ford Amphitheater, provide a solid foundation for this digital pivot, enhancing liquidity and audience engagement [4][5] - The company is targeting underserved U.S. markets with a $5 billion development pipeline, leveraging public-private partnerships to accelerate growth [5][9]