- Company Name: Viberate
- Country of Origin: Slovenia
- Industry: Entertainment
- Concept Short Description: Viberate is a crowdsourced live music ecosystem and a blockchain-based marketplace, where musicians are matched with booking agencies and event organizers. We\'re listing profiles of over 150,000 artists, 2,000 booking agencies, 60,000 venues and 500,000 events.
- Description: Viberate’s goal is to create a global marketplace for the live music industry by creating an Ethereum-based platform for booking musicians and selling tickets to live events using smart contracts. Today’s live music ecosystem is dominated by large booking agencies and centralized ticketing platforms, making it difficult for the vast majority of artists and performers to gain exposure on a large scale. Only a small fraction of musicians are lucky enough to have agency representation, without which they are left to deal with marketing, sales, networking, legal, taxation, and debt collection issues instead of focusing on the creative aspects of their work. On the other side, event organizers find themselves constantly hunting for interesting acts to fill their lineup because making deals with musicians who don’t have proper representation can result in no-shows, poor performances, and problems with legally issuing payments.
While Viberate plans to partner with talent agencies and ticketing vendors, their larger vision is to empower the long-tail of millions of unrepresented musicians around the world by creating a matchmaking platform that, according to the white paper, “any musician can join, regardless of genre, country, fame level, or gig history.” Musicians can use the platform for promotion and exposure, and event organizers will have a new resource for discovering acts and a decentralized escrow service for issuing payments through the Ethereum blockchain.
The Viberate marketplace will serve five primary user groups:
• Musicians will have a profile page with metrics for fan growth, user engagement, and fan geo-distribution, as well as links and stats from social media and streaming channels. Musician profiles can also include audio, video, and photo content, as well as gig dates with ticketing links, and contact info (for artists or their agents) for business inquires. Musicians will also be able to receive payments for gigs through smart contracts, and will have the ability to rate the event organizer(s) after the performance to promote industry professionalism and generate reputation metrics.
• Venues will have profile pages that include contact information, event scheduling information, capacity information, and prevailing genre associations.
• Events and Event Organizers will have profile pages to showcase their work, promote their events, and directly engage with musicians, venues, and agencies. Event organizers can also pay musicians using smart contracts, and can rate the musicians after the performance to promote industry professionalism and generate reputation metrics.
• Booking Agencies will have profiles featuring contact information and rosters of represented artists.
• Fans can earn Vibe tokens by contributing to the musician database, which can be used to purchase event tickets and merchandise. Fans can also create campaigns using smart contracts to crowdfund the fee for a specific performer to come play their local venue.
The use of VIB token
Viberate will create an ERC20 token (VIB) that will serve several functions on the platform:
• Contribution Rewards: 5 percent of VIB tokens will be used to incentivize user contribution to the database. Anyone creating new profiles, or adding info to existing profiles, will be awarded VIB tokens once their contribution is validated by the Viberate team. VIB are also earned upon registering to the service (welcome award), and for referring friends and promoting the service.
• Booking Musicians: Smart contracts will allow multiple payment options to be negotiated by the event organizer and artist, but using VIB will be incentivized on the platform (incentivization details are T.B.D. as of this writing).
• Booking Commission Fees: Viberate will collect a service fee when performers are booked through the platform (likely 10-15% of the transaction, according to a Viberate stakeholder in an interview with S+C). Booking commissions will be used for operational costs and for funding the bounty pool for contribution rewards.
• Ticketing and Merchandise: VIB tokens will also be one method of payment used to purchase event tickets and merchandise through the Viberate platform. This will be the primary use case for fans earning contribution rewards.
• Contact Information: To reduce spam, a payment in VIB will be required to contact other people on the network, including musicians, event organizers, venues, and booking agents.
• Premium Listings: Artists can pay to advertise their profiles on different “charts,” which will be organized by genre and geo location. Chart exposure will be purchased with VIB or ETH using smart contracts to detail terms, such as price and duration, and execute payment.
- Crowdsale Open Date:
September 5 2017 @ 2:00 pm
- Crowdsale Close Date:
October 5 2017 @ 12:00 am
- Accepted Contribution Methods
- Token Name: Viberate
- Token Symbol: VIB
- Blockchain Technology: Ethereum
- Total Token Supply: 200,000
- Crowdsale Token Allocation: 120,000