Viberate, led by co-founder Vasja Veber, is harnessing blockchain technology to innovate the live music industry by implementing smart contracts, advancing their platform’s capabilities globally.
Viberate’s blockchain initiative aims to enhance transparency and secure artist transactions in live events, potentially reshaping the industry and sparking significant discussion among tech and music sectors.
Viberate’s New Blockchain-Based Ticketing Platform
Viberate, guided by Vasja Veber and his extensive music industry experience, focuses on live event ticketing through a blockchain-based platform. The company plans to incorporate business models, enhancing the music scene via smart contracts and digital transactions.
The leadership team, led by Veber, has taken action to establish crowdsourced artist databases and develop a secure booking service. This change involves integrating technology that protects artists via a decentralized platform and innovative blockchain solutions.
460,000 Artists Join Viberate’s Blockchain Initiative
Fans and industry players appreciate the move, seeing it as a means to elevate artist visibility and streamline event organization. The use of VIB tokens incentivizes participation, which has attracted positive community engagement, with over 460,000 artists on board.
Potential regulatory insights show no immediate governmental challenges, with the focus being on technological outcomes like fan-driven crowdfunding and token utility. This blockchain application signifies a market attempt to ensure honesty and reliability in transactions within the event ecosystem.
Viberate’s Unique Approach Drives Industry Interest
Similar ventures in the past struggled with broad adoption, yet Viberate’s comprehensive blockchain approach for event ticketing sets it apart. Their engagement with crowdsourced data reflects a pioneering method in this domain.
Expert analysis from Kanalcoin suggests that Viberate’s strategy could potentially lead the way in blockchain applications within the music industry. By successfully leveraging technology, the platform could solve long-standing inefficiencies, according to current data and trends.
“Right now, Viberate is actually a platform for live music. Later on, we’re gonna start plugging in different business models. One of these will be a booking service, much like Airbnb is for real estate–we’re gonna do that with music. This is where blockchain comes in. Here we’re gonna utilize smart contracts, so artists are gonna be protected with an escrow done with a smart contract. We’re also utilizing blockchain right now, because like I said, the database is actually crowdsourced, so anyone can participate, anyone can add new profiles. Artists, venues, events, everything is user generated. Now we’re paying people with our own cryptocurrency–we’re doing that. So if you start adding profiles on Viberate, you can earn vibe tokens. That’s how it works right now.” – Vasja Veber
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