Cultural tourism plays a big part in the travel industry. Big players like Lonely Planet and TripAdvisor offer loads of information about historical sites, museums, and landmarks, but there’s plenty of room for improvement. More and more companies feel the need to adapt, adopt disruptive ideas and join a digital transformation journey.
A new Blockchain-based project, Cultural Places, has entered the scene with a potential answer to the needs and wants of the modern culture seeker. The mission is to reinvent and restructure all aspects of the cultural industry, from ticketing and crowdfunding to trip planning and mapping, by bringing Blockchain technology and cultural heritage onto a single platform.
Cultural Places is best described as a social network for patrons, artists, and curators. Developed over the course of 3 years by Oroundo, the existing app – which is available on both iOS and Android – connects customers and suppliers on a platform better known as a cultural ecosystem.
Cultural Places has jumped on the Blockchain bandwagon and is looking to take its mission to the next level with the Cultural Coin; a dedicated cryptocurrency that users will use to purchase theatre and museum tickets, or support exhibitions and galleries. The ICO’s vision is to raise funds to develop a project that will become the go-to place for booking and discovering new trips.
Booking tickets online using traditional sites can incur high booking fees of over 30%. Not to mention, culture seekers often deal with touting and fraud attempts when hunting for the best deals. On Cultural Places, crypto-ticketing is done via smart contracts, removing middlemen and intermediaries. Customers buy reasonably-priced tickets, while artists are guaranteed that ticket touts don’t get in the way.
The platform adopts a new approach to funding and sponsoring too. With the help of Blockchain technology, institutions can provide unique, innovative, and interactive user experiences. The mission is to transform Cultural Places into a decentralized social network of people involved in the culture and arts industry.
Crypto-funding and social networking on Blockchain
Cultural Places aims to become a one-stop-shop social network for culture buffs and avid travelers. Culture seekers can join the platform to build relationships with like-minded people, buy digital and physical goods, make donations and become part of a loyal community.
Institutions can also benefit from the Cultural Places platform. They can use it to analyze and collect user data, thus gaining better insight into the content they share with users. The end-goal is to help organizations hone their data to provide better, more precise advertising and marketing compared with similar social channels.
Cultural institutions such as galleries and museums can send and receive payments via cultural coin tokens after becoming an active part of the platform. This allows them not only to sell tickets and lower cost as there are no intermediaries but also spreads awareness and gives access to new visitors.
A triple win concept for all users
All purchases executed on Cultural Places have an unrivaled, minimal fee that begins at 6%; which could result in revenue streams of nearly 94% for cultural institutions. For every purchase made, the platform takes a three percent share. The remaining three percent share is subsequently distributed among the community.
Users will get 1% in Cultural Coins of the total spendings on Cultural Places as part of the platform’s loyalty program. All Cultural Coin token holders will get another 1% as part of the platform’s reward program. A final 1% will be split among institutions to encourage them to enter the Cultural Places ecosystem.
The public token sale will be divided into 5 main phases. The ICO is currently live until April 5. Participants can purchase Cultural Coins in 4 phases starting with 0.018 EUR and receive a 40% discount. Between March 12 and March 18, the token price will increase to 0.021 EUR, and the bonus available will drop to 30%. Then the prices will increase to 0.024 and ends at 0.030 EUR on April 5 (the final phase of the ICO).