A blockchain-driven platform for the live music industry introduces a rewarding system, enabling music enthusiasts from all over the world to help shape the future of the industry and be compensated for their efforts. Viberate
is on a mission to list and map the global live music industry, deliver more transparency, increase payment discipline and enable under-the-radar artists to gain exposure. Their goal is to develop a comprehensive marketplace where musicians will be able to get paid in cryptocurrencies, and give event organizers a set of tools to find and book performers in an easier way. The platform Viberate.com is already up and running, currently listing more than 130,000 profiles of various musicians from all over the globe.
The company is now completely decentralizing their operations. “We are rolling out a mechanism which will allow our contributors to receive a reward for helping us grow,” said Vasja Veber, COO and cofounder. This means that everybody that either expands their database, keeps it up to date or helps grow the community and promote the service will get paid in VIB tokens. All the activities which will get you a crypto reward are listed on www.viberate.com/participation
. The company says they will distribute 5,000 VIB tokens among the contributors each day or a 1.2 million dollars’ worth of tokens in the following 2,000 days.
Veber also points out that, according to their research, more than a half of the existing users have contributed to the platform out of support for the project and their love of music. “Since those very users play a crucial role in helping us change the music industry, we want to reward them for their efforts, as they are actually a part of the team.” Moreover, Veber suggests that since Viberate will invest over a million dollars’ worth of tokens into the community, some of the contributors will be able to quit their jobs: “Our top contributor has earned over 42,000 VIB, which translates to approx. £5,200 at press time – not bad for roughly one month of work.”
Viberate has gained the world’s attention in September, when they successfully raised 10.7 million dollars in under five minutes, becoming one of the most successful crowdfunding projects to date. The company has issued their own crypto token VIB that can be exchanged for bitcoins and ethers.
“We believe anyone interested should be able to participate in shaping the future of the music industry,” Veber explained. It is worth noting that the music industry – already a huge one – is poised for additional growth in the coming years. That is another reason why Viberate is confident of the potential of their business. “And we urge people interested in music to join us and become a part of the movement.”