The new blockchain project is aimed at revolutionizing the live music industry, allowing musicians to be paid for their performances in digital currency.
Viberate is a new decentralized platform from a Slovenia-based startup designed to connect musicians with event organizers from all over the world. Described as a unique and revolutionary service, Viberate aims to become the largest global talent marketplace.
The company is set to transform the current live music industry just like Netflix changed TV and Airbnb changed the renting sector. With a new service, musicians will be able to increase exposure regardless of their popularity and monetize their services to earn the digital currency, including bitcoin, ether, and the platform’s own cryptocurrency called Vibe.
The project was founded by a team of skilled managers and team leaders with an extensive experience in the music business. “We started the project because we were lost in the flood of trends in music. New artists emerge daily and it’s hard to be on top of things, no matter how experienced you are,” Viberate CEO, Matej Gregorčič, said in a blog post on Medium.
“The founders have worked together for 15 years, we’re not just business partners, we’re friends,” he added. “We worked with big international clients such as Philip Morris, Vodafone, Hewlett-Packard and many others, who trusted us with their event management budgets.”
The team already raised $580,000 in the first funding round in 2016 and received $440,000 from an angel investor earlier this year. Recently, the platform added more than 120,000 artist profiles, 50,000 venues, and over 210,000 different events to its platform.
Viberate is now planning to launch an ICO on September 5, 2017, that will continue until October 4, 2017. The company plans to raise $12 million during a crowdsale, which will be used to develop additional features and finance a global marketing campaign.
Overall, the startup will issue 200 million tokens, 60% of which will be available for investors. Besides, it will offer significant bonuses at each stage of the sale.
One of the project’s co-founders, a famous techno DJ UMEK, is going to play a special live set for the launch of the ICO.
“Of course we’ll throw a party for when the crowdsale launches! What kind of a music service wouldn’t do that? I prepared a special 90-minute set and I’ll play it in our offices in Ljubljana,” he said. “We want as many people as possible to celebrate this special event with us, so we’ll stream the set live on Facebook. I hope the neighbors will understand that we might cross a line with loud music for a while. They’re invited anyway.”
The live stream of the performance can be viewed here.
Unlike other ICO projects, Viberate is already an existing service, allowing users to explore the world of live music. “By buying Vibe tokens, you are contributing to a project that already has value and a vibrant community covering our backs. The database you see today was built with the help of over 50 thousand contributors,” Gregorčič stated.
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