Blockchain technology continues to grow in adoption for various industries. Such is the case of the music industry, and in particular of Viberate, a market of decentralized musical talent that seeks to break up the music industry by allowing artists to be paid for their gigs, either with Bitcoin, Ether or their own token Vibe.
Based on the Ethereum platform, it utilizes smart contracts that solve decades-old problems that live performers have with getting demand, determining their value/price, negotiating terms, executing agreements and getting paid. Its main pillars are an innovative database of millions of artist profiles, ranked according to social media popularity; a tokenized incentive program for musicians’ fans; a talent booking process; and a blockchain-based contract and payment system.
Viberate announced the launch of its ICO that began on September 5 and in which they proposed to raise $ 12M in the sale of their Vibe token. So far, the interest of the blockchain community has been very positive.
As veterans of the music industry, Viberate’s team will be responsible for making everything related to the platform special for everyone. One of the co-founders is UMEK, a world-famous DJ and had a special set prepared for the launch of ICO Viberate. Days before UMEK commented that “Of course we will have a party for when the crowdsale is launched!” What kind of music service would not do that? I prepared a special set of 90 minutes and I will play it in our offices in Ljubljana. as many people as possible attend to hold this special event with us, so let’s broadcast the whole live on Facebook. “
– See also here Musicoin –
There is no doubt about the music market will be one of the most favored with the adoption of blockchain technologies.