Backstageplay Announces Product Co-Development and Revenue Share Agreement with Cash Live Entertainment Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2022) - Backstageplay Inc. (TSXV: BP) (the "Company") announced today the completion of a software license and managed services agreement with Cash Live Entertainment Inc. (https://www.cash.live) ("Cash Live"), the operators of the innovative new live poker game show available on Apple AppStore and Google Play (https://cashlivepoker.page.link/46xQ), which streams daily at 3pm and 6pm PST.
Optimized for the mobile poker generation, the Cash Live app provides players with a hosted, live-streamed, free-to-play mobile poker entertainment experience, offering a simple all-in or fold game. The Cash Live "live-as-a-Service" platform and broadcast production is an impressive display of mobile streaming capabilities and holds potential to reinvent how many social and casino game experiences are consumed. Cash Live's target audience is initially to the 58 million casual poker player demographics, with a view to offering other products and services in the coming months.
In view of its roots in the iGaming and social gaming sectors, Backstageplay will license a copy of its SaaS technology platform and select games, such to be integrated with certain Cash Live game and product assets, so that the parties may jointly develop and offer additional gameshow content ideally suited to this novel new live game experience.
The parties will share revenue generated from these products, with Backstageplay offering these games as part of its SaaS social platform, to B2C customers looking for live streaming social content. Backstageplay will assist Cash Live with partial financing of these projects, on a game-by-game basis, with an initial commitment for the development of two games. Backstageplay will further use its iGaming industry contacts in its business development efforts and promotion of the Cash Live and co-developed new game offerings.
As consideration for Cash Live's access and use of the Company SaaS platform and gaming assets for these co-development projects, Backstageplay will be compensated, in part, with Cash Live equity as a commitment to supporting this exciting new game platform innovator.
"We are delighted to be joining forces with this excellent, rapidly growing, local Vancouver-based technology team," said Scott White Backstageplay's Chief Executive Officer. "With our significant iGaming expertise and deep roots with suppliers and operators in this exploding sector, in addition to co-developing new content with Cash Live, we intend to use our relationships to license these new products and managed services to a growing iGaming and social gaming market in and throughout North America. We are very excited to be working together to create these new products".
"We are excited to announce our first white-label contract that leverages our Live-as-a-Service platform," said Matt Jarvis, Cash Live Entertainment's Chief Executive Officer. "We've been thrilled with the interest and popularity of our current Cash Live games and enthusiastic to explore how other game studios and producers can leverage our software and live broadcast solutions in a similar manner to this agreement that we're kicking off with Backstageplay."
This arrangement with Cash Live is the first of several co-development arrangements Backstageplay has been working on and it expects to be able to provide more updates on its progress in different but complementary gaming and blockchain products in the coming weeks and months.
About Backstageplay Inc.
Backstageplay, Inc. is an online and mobile entertainment and marketing company, engaged in the business of social gaming and retention software and services. For further information, please visit recent filings on Sedar or the Company's website at www.backstageplay.com.
For Further information, please contact:
Scott White, Chief Executive Officer
1 (416) 704-6611
Sean Hodgins, Chief Financial Officer
1 (778) 318-1514
Neither the TSX Venture Exchange nor IROC accepts responsibility for the adequacy or accuracy of this release. All statements in this news release, other than statements of historical facts, are forward-looking statements and such forward looking statements represent managements current beliefs with respect to the business of the Company and may not be achieved. The Company expressly disclaims any intention update or revise any forward-looking statements. This news release is not an offer to sell or solicitation to sell securities in the United States. The Company's securities will not be registered under the United States Securities Act of 1933, as amended or any state securities laws.
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