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Viberate is presenting everyone with a chance to enter into the live music industry through their upcoming ICO. The platform’s public crowdsale goes live on September 5, 2017, giving everyone an opportunity to become a part of the community by offering Vibe tokens.
Viberate is a crowdsourced live music ecosystem and a blockchain-based marketplace where they connect musicians with event organizers. The platform is listing profiles of over 120 thousand musicians, from superstars to garage bands.
It is their vision to revolutionize the way musicians are presented and booked. Further, the platform wants to open the world of live music to anyone who wants to participate in it by decentralizing discovery and booking processes with the use of the blockchain technology.
Viberate has the biggest live music database, open for curation in order to constantly improve Viberate’s quality and reach. The platform has developed an awards protocol, where users earn Vibe tokens (Vibes) for their successful contributions to the service. In other words, it can be described as a decentralized community-based service, fueled by the Vibe token.
The Vibe represents the atomic unit of Viberate’s crowdsourced concept and the service’s growth and health depend on it. The platform plans for the Vibe to become a go-to digital currency for the music industry as a whole in the future.
Besides using the tokens on the Viberate platform, there will also be an array of smart contracts connected with music industry where Vibes will be used as a core digital currency.
Viberate brings the entire music ecosystem in one place. It is the first service to cover all aspects of the live music industry. Their entity database covers musicians, booking agencies, music venues, event organizers and events; and their user groups stretch from musicians and other music professionals, all the way to fans and media.
But Viberate is much more than just a directory. Their entities are chart-ranked based on popularity, which combined with the use of filters such as country or genre, makes the discovery process easy and efficient.
The platform also enables the implementation of a live music marketplace with the database and communication channels in place. The event organizers will be able to book musicians directly through their service, just like accommodations are booked on Airbnb. Blockchain technology will be utilized in the booking process in order to negotiate terms (smart contracts) and transfer payment (escrow).
While Viberate will also offer event organizers a chance to sell tickets through Viberate on a decentralized system (via DApp) without intermediaries. On top of that, the platform will give fans a chance to sell already purchased tickets on a secondary market.
The Viberate crowdsale starts in 48 days and a total of 120m VIBE (VIB) tokens out of the total supply of 200m will be available in the ICO. The ICO will run for 30 days, and the initial value of each VIB token will be 0.00025 ETH. The platform has decided the minimum goal of the ICO at $1.000.000 and a maximum cap of $12.000.000 (approx.).
The funds will be held in multi-sig wallet held by the Team Council; And as for the unsold tokens, they will be transferred into the marketing budget. There will also be many bonuses on the offer, including a 48 hours bonus of 12%, week 1 bonus of 9%, week 2 bonus of 6% and finally a 3% bonus on week 3 participation.
Finally, the funds collected during the ICO will be used for product and technical development, management, operations, marketing, sales and PR and international expansion. In case the platform fails to reach the envisioned amount, it will rely on operating profits and will scale down the operations to remain fully functional for the next two years.
