Viberate.com is a live music database, featuring over 120 thousand profiles of musicians – from superstars to local garage bands. Profiles feature daily updated social media stats, gig dates, content feed and even manager/agent contacts. Anyone can add new profiles and artists can claim existing ones by simply verifying their identity through their Facebook account.
The service is already used by major talent agencies to analyze their roster as well as by big event organizers who want to discover the next big star. The European Commission chose Viberate as one of eight European startups, bound to change the global music industry: https://ec.europa.eu/programmes/creative-europe/news/20170602-music-moves-europe-8-selected-start-ups-midem-2017_en
Now Viberate wants to upgrade its massive database with marketplace features. They want to become for music what Airbnb is for tourism – a global marketplace where they will match musicians with event organizers. The first major milestone is due at the end of August, when Viberate will introduce venue profiles and will be ready to map the global scene of clubs, pubs, halls, stadiums and other music venues.
The biggest and very likely most disruptive upgrade comes in the form of their own crypto coin named the Vibe. The coin will become their own currency for paying for artist fees, so very soon the artists will have a chance to charge for their performance fees in cryptocurrencies. Besides their native Vibe, they will also allow artists to get paid in Bitcoin and Ether.
Introducing cryptocurrencies into the music business changes many things, but the below three are most exciting:
- it allows the booking terms to be written into a smart contract, which streamlines the paperwork and makes it completely digital
- escrows are easy to integrate for added safety of both, artists and event organizers
- transactions are fast, secure and carry no transaction fees
With Viberate being a crowdsourced service, meaning any user can contribute into their database of musicians and venues, their own crypto token will also be used to reward contributors. They will get Vibes for working on the platform, doing things like adding new profiles or curating outdated and false information in existing ones. Vibes will be fully exchangeable for other crypto currencies and finally also to dollars or euros.
To fund all planned activities and implementations, Viberate will issue its token crowdsale, also reffered to as an ICO, on September 5th, where they will look to raise $12 million. More information is available at https://www.viberate.io or in their explainer video.
