Live Music Marketplace Viberate to Let Musicians Sell Gigs for Cryptocurrencies
Musicians usually either hit it big, or have to keep music as a side-gig that helps them pay for a few extras while they keep a day job that pays the bills. This means that a ton of talented artists are struggling to keep making music.
On the other hand, for event organizers finding good musicians can be a challenge, as finding talented artists in a specific genre who need an opportunity to show their worth isn’t easy.
Viberate, a decentralized live music marketplace, wants to change this by allowing musicians to sell gigs to event organizers in exchange for cryptocurrencies. It’s platform, which already has 120,000 musician profiles, will help both musicians and event organizers by working as an Airbnb-like marketplace for live music.
Viberate Matches Musicians with Event Organizers
Unlike most music-related projects, Viberate doesn’t focus on the recorded music sector, but rather on the live music market. Its founders, a group of music executives, have been working in the industry for the past 15 years and want to solve problems they’ve had to deal with during that time.
As stated, Viberate already has over 120,000 musician profiles on its platform, and is soon going to introduce roughly 50,000 venue profiles. Viberate’s open database allows anyone to add new artists and venues, and renowned musicians, including Robbie Williams and Linkin Park, have already claimed their profiles on the platform, recognizing its potential.
The platform’s goal is to give musicians from all over the world the chance to offer gigs to event organizer, in exchange for cryptocurrencies such as Bitcoin, Ether, or the platform’s token, Vibes. Through social media metrics, event organizers can find musicians and book them directly through the platform.
The project has already been given support by the European Commission’s “Music Moves Europe” initiative, so much so that it was chosen as one of the 8 startups that is bound to change the music industry. The Slovenian Ministry of Economic Development and Technology has also supported the initiative.
To help fund the implementation of its marketplace, and to further develop blockchain features on Viberate’s existing platform, Vibe tokens (Vibes) are soon going to be sold in a public crowdsale.
Vibe tokens will initially be used to reward users who create and curate musician profiles on their behalf, and who improve the platform. Vibe tokens can then be used to pay booking fees, buy subscriptions for premium services, to get access to premium industry contacts, or to trade on exchanges.
The crowdsale will start on September 5 and end on October 4, a total of 200 million Vibes will be sold. Initially, one Vibe token will be sold for $0.1, and can only be purchased using Ethereum. Early investors can benefit from a bonus that ranges from 12% to 3%.
Users are advised to thoroughly read the project’s whitepaper. You can keep up with Viberate on Facebook and Twitter, or join the discussion on their Slack channel.