Colorado Springs-based VENU is among the most aggressive companies in the entertainment biz today. The firm’s mission statement is labeled “Disrupting the Music Industry” and boasts about designing “revolutionary entertainment and hospitality destinations that unite people through the unparalleled power of music, shared connection and luxury.” Its properties presently include the Springs’ Ford Amphitheater, and plans for a new indoor performance space in Centennial were announced earlier this year.
No wonder, then, that VENU is also embracing cryptocurrency, with plans to use the trendy but controversial financial tool to help further expand its growing footprint — and the folks in charge of many other enterprises are following suit. No less than the Wall Street Journal has declared this approach “the hottest business strategy this summer,” pointing out that “small companies are raising billions of dollars to buy bitcoin and other, more obscure cryptocurrencies.” But the WSJ adds a cautionary note encapsulated by an unmistakably snarky question: “What could possibly go wrong?”
At this writing, VENU hasn’t responded to outreach from Westword about its crypto program. But a press release issued through the digital-media outlet 24/7 Market News announces that the firm will be “tokenizing the live events boom” in the following ways:
Tokenized Memberships and Rewards, where fans earn $VENU tokens (or ecosystem-specific NFTs) for attending events, streaming exclusives, or engaging via app, redeemable for perks like priority seating, VIP access, or fractional ownership in Luxe FireSuites (those cozy, firepit-equipped premium spots projected to generate $200 million in 2025 sales alone).
Soft Ticketing and flexible, blockchain-based tickets that act as dynamic NFTs — transferable, upgradable, or even “fractionalized” for shared access. This redefines “digital ownership,” allowing fans to buy, sell, or hold tickets as assets, with smart contracts ensuring anti-scalping and instant royalties back to VENU.
Hybrid Engagement, in which streams from venues feed into the platform, with AR/VR overlays and token-gated content, turning one-off concerts into ongoing communities.
The release adds that J.W. Roth, VENU’s founder, chairman and CEO, “envisions $2 billion in annual ticket sales within a few years (by 2030, across 25 amphitheaters and 15 indoor complexes),” and contends that blockchain integration “should significantly increase overall ticket sales while inviting a much larger audience to enjoy unique and invaluable live experiences.”
These numbers are especially ambitious in light of VENU’s fairly brief history to date, as well as its modest beginnings. Roth started out in 2017 as the restaurateur behind a pair of Colorado Springs eateries, Bourbon Brothers Smokehouse & Tavern and the Hall at Bourbon Brothers. But Roth wasn’t satisfied with merely making his mark in Colorado. He branched out first with a Bourbon Brothers Smokehouse & Tavern in Gainesville, Georgia, and is currently building “state-of-the-art destinations” under the Sunset Amphitheaters brand “that blend world-class music, fine dining and exceptional hospitality” in two Texas communities. A 12,500-capacity joint in El Paso is slated to open later this year — the groundbreaking ceremony took place on September 24 — and a 20,000-seater in McKinney is earmarked for summer 2026.
VENU is also hoping to complete a 12,500 seat facility in Broken Arrow, Oklahoma, near Tulsa, by mid-2026, and is making efforts to revive an Oklahoma City-area amphitheater that local officials nixed last year.
Roth’s dreams don’t end there. A VENU press release estimates that “its operating and developing locations are projected to generate more than $17.7 billion in economic activity and create over 4,700 jobs within their first twenty years of operation.” Also included is a Roth quote in which he contends that “at VENU, we believe true success is never achieved in isolation, it’s built through partnerships that push progress and create lasting impact. Every project we undertake is rooted in the conviction that when communities, stakeholders, and public leaders come together, we all rise. It’s the tide that lifts all boats, transforming not just local economies, but entire regions.”
Of course, it’s an open question as to whether crypto will be able to turn this blueprint and others like them into reality. The WSJ points out that since June 1, nearly 100 companies “have announced plans to raise over $43 billion to buy bitcoin and other cryptocurrencies,” and nearly $86 billion has already been generated for similar purposes since the dawn of 2025. Yet, the Journal adds, “skeptics say the rush of companies buying crypto is a sign the market is overheating, noting that digital tokens, especially the obscure ones, are notoriously volatile and have uncertain futures. They scratch their heads about why an investor would buy shares of a company purchasing cryptocurrencies when they can buy them on their own through low-cost exchange-traded funds and other vehicles. Others note that many of these companies are worth much more than the cryptocurrencies they hold, as if investors are willing to pay $2 for a $1 bill.”
Will VENU’s NFTs turn into WTFs or legitimate riches? No one can be certain at this point — but the results could have a big impact on the Colorado music scene for years to come.