Viberate 101: Find out why musicians love this project
Blockchain has made its way into millions of industries including banking system, real estate, and even fantasy football. Now it is going to rock the music industry. Viberate is an ecosystem based on live music and a marketplace based on the blockchain.
Currently, it works as IMDB for live music where profiles are ranked according to their social media popularity. It has over 130000 profiles of the musicians created by over 50000 different contributors to the site. It targets to connect various artists and music based professionals and helps to bring them closer. It aims to match musicians with booking agencies and various event organizers. Agents can check on the musicians how well they are working online with the help of audience engagement metrics which is built on its ecosystem.
The music world can be enhanced and changed using Viberate which further uses blockchain technology. It helps in revolutionizing the way musicians are presented and to open the world of live music to more and more people. Basically, it’s all because of decentralization. Blockchain technology helps in decentralizing the discovery and booking processes. Viberate started with just 50000 contributors and it will be open for all in future. This level of decentralization is the main factor which makes Viberate really unique.
The four elements which make Viberate unique are its database, community, holistic approach and marketplace. It was just started off as a small project with no more than thousands of DJs and slowly it grew to 50000 musicians. Then it further grew to the database of 120000 musicians, 40000 music venues, and 60000 events. Rewards are given to the contributors for referring friends, promoting the service, adding new profiles on the database etc.
When it comes to payments, there is the biggest advantage of using blockchain technology that is the ability to offer an escrow. It is the safest way to make payments. However, many countries require licenses for fiat currencies escrow from authorized authorities like central banks etc. Using cryptocurrency helps in solving the issue and allows for effective safe escrow.
No one ever thought of a live music platform which would be completely based on cryptocurrency. Viberate is the first establishment in this regard. It was launched in 2015 and slowly started gaining popularity and various things have been developed in it till now. Now many people are using this amazing platform and it is believed by many crypto experts that it will have over one million users by the end of 2018.
VARIOUS BUSINESS MODELS
Viberate helps in the advertisement of the talents of various musicians. Musicians will now be able to advertise their information. They would update and expose their profiles to millions of people through ETH or Viberate tokens. Smart contracts will help to define the terms such as duration and the price. People would pay them online and the smart contracts will trigger the exposure of the artist’s profile on the agreed prices and time. The prices may vary according to current demands.
Viberate intends to implement a ticketing service which would be based on blockchain technology where the commission would be charged on every ticket based on its ecosystem.
COMMISION ON BOOKINGS
Nowadays usually what happens is, musicians are hired by booking agents who get some commission for the same which is around 10-20% of the amount paid to the musicians. Viberate would help all the musicians to get hired regardless of genre, country, and popularity who have a profile on Viberate.
THIRD PARTY INTEGRATIONS
Insightful information is provided for various outlets such as music media, streaming services and much more with the help of Viberate’s analytical content
PREMIUM INDUSTRY CONTRACTS
One can contact the agents, manager or even the musicians after paying a certain fee in ETH or VIB as their number is listed in various profiles. The main purpose of this besides earning revenue is to prevent spams.
The team behind Viberate includes a lot of experienced managers, event organizers and cryptocurrency experts and various masterminds who got their domain knowledge after 20 years of working in the music industry. They discovered the pains in the music industry and after years of struggle they came up with the solutions using Viberate.
Some of the experts in the team are :
– Matej Gregorcic ( CEO)
– Vasja Veber (COO)
-Uros Umek ( Professional DJ founder and the celebrity ambassador
-Bostjan Zakelj (CTO)
-Rok Bavec (Senior Developer, Data scientist)
-Rok Babic ( Senior blockchain developer)
-Andrej Plankar ( Blockchain specialist)
-Tomislav Mucic (Blockchain consultant)
The market capitalization of Viberate is 21,202,757 US $ and the ICO token price is 0.1000 US $. The total token supply is 200 million out of which 120 million (60%) are distributed in the crowd sale.
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