Viberate, a blockchain-based music and NFT platform, leverages VIB tokens to streamline direct payments and music royalties, enhancing artist empowerment and reducing intermediaries in the music industry.
This approach improves payment transparency and speed, positioning Viberate as a viable alternative to traditional music royalty collections.
Viberate’s use of VIB tokens enhances transparency and direct payment options for artists in the music royalty landscape.
The introduction of VIB tokens by Viberate could transform the traditional royalty payment system by decreasing costs and boosting payment speeds.
VIB Tokens Enhance Artist Payment Transparency
Viberate, a blockchain-based music platform, enhances artist payments through VIB tokens, aiming for greater transparency in music royalties. The platform allows artists to receive direct payments, which contrasts with the traditional, costly royalty collection methods.
The initiative involves key figures such as Matej Gregorcic and Vasja Veber, who focus on streamlining the music royalty process. The introduction of VIB tokens seeks to reduce intermediaries and enhance payment speeds for artists. As Vasja Veber, Co-founder/COO of Viberate, stated,
Artists can receive payments directly via VIB tokens, lowering costs and increasing speed compared to legacy collection societies.
Streamlined Payments May Transform Music Royalties
Viberate’s introduction of VIB tokens could lead to a significant shift in the music industry by streamlining royalty payments. Analysts suggest that this model may reduce costs for musicians while increasing transaction speeds.
Financially, Viberate’s market remains moderate, with a market cap around $12.47M. The music industry could see a transformation in royalty management, fostering transparency. Historical data suggests centralized systems may face challenges adapting to blockchain solutions.
Viberate’s Blockchain Approach Outshines Previous Projects
Past projects like Audius attempted similar approaches, yet Viberate stands out due to its extensive music data integration. The use of blockchain technology in music isn’t new but remains effective in addressing industry inefficiencies.
Experts at Kanalcoin emphasize Viberate’s unique bounty reward model, predicting favorable outcomes for artists. By increasing direct contributor rewards, the model has potential benefits compared to existing systems, enhancing music royalties long-term. Learn more about related virtual reality experiences at VibeHub.
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