Live-streaming platform and on-demand media company, LiveOne (NASDAQ:LVO), is enjoying some well earned publicity today after a big announcement. LiveOne has entered a binding letter of intent with stock-trading simulator Trader2B. Interestingly, the deal will “gamify” LiveOne’s platform with Trader2B’s trading technology, allowing users to win prizes for skilled trading. Investors are hesitantly eying LVO stock today, which has surprisingly trended down 3% on the news.
So, what’s in store for LiveOne following this latest deal? Well, Makram Kebti, chief executive of Trader2b, explained and offered some kind words.
“My team and I are thrilled to partner with LiveOne to create a platform that will be fun and educational. Trader2B has trained thousands of people in simulation over the last few years. We look forward to sharing our knowledge and technology to grow LiveOne’s membership base and their engagement across the platform while focusing on music stocks and offering content and prizes from LiveOne’s products and partners.”
LiveOne made history this year after launching the first-ever non-fungible token (NFT) music festival poster, for its “Music Lives” streaming event. It appears this is yet another step toward a sort of music metaverse.
8 Things for LiveOne Investors to Know About this Latest Deal Stirring LVO Stock
- The arrangement will see 25 music-related stocks, cryptos and NFTs available to trade on the new LiveOne platform.
- The deal gives LiveOne exclusive rights to integrate Trader2B’s technology.
- Notably, LiveOne will have the exclusive option to purchase Trader2B’s assets and operations within 180 days of the gamified platform’s release.
- LiveOne members will see offerings of more than $1 million in rewards in the form of exclusive prizes.
- These prizes range from special opportunities, content and product offers from LiveOne’s partners.
- The two parties agree to split revenues of the gamified platform.
- LiveOne levies none of the setup, initial maintenance or related costs needed to operate the platform.
- This latest deal marks the eighth acquisition for LiveOne.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.