Viberate is an aspiring Slovenian-based startup devoted to live music industry. On the official website, digital platform sets among its major goals promotion of talented musicians within dedicated field regardless of the project’s scope.
It operates alike IMDB in the music word, where profiles are ranked according to achieved online success. Viberate contains more than 150,000 profiles of musicians from all around the globe, 60,000 venues and more than 250,000 events. As it runs on the decentralization scheme, Viberate allows users to communicate, shopping, share personal content and arrange events in secure way with the help of the blockchain technology.
During ICO earlier this year, the company has raised about 10.7 million dollars in about two week. Flushed with success, Viberate team has pledged to invest collected funds into development and improvement of delivered services. In this vein, the company came up with idea to launch the bounty pool for loyal website contributors. The company has been transferring to it 5,000 VIB token every day for 2,000 days.
According to Vasja Veber, COO and cofounder of Viberate, 1.2 million dollars’ worth of tokens will be daily distributed among users that actively contribute to the website in order to cherish applied efforts. In his statement, Mr. Veber also stressed that examined approach not only means that some of Viberate suppoters will be able to quit their day jobs, but also gives the token, inherented to Viberate’s ecosystem, the utility value not a lot of blockchain projects have.
Viberate encourages everyone who have ever dreamt to work in music to join its rapidly developing community. Along with pure enthusiasm for the company’s vision and love of music, it requires active contribution to the platform developing.
The supporters is expected to constantly deliver updates to Viberate’s database of venues and event organizers, add or edit musicians profiles and promote the platform services to the outside world. Each confirmed database entry, registered user via the referral link or tracked promotion will result in a $VIB reward calculated based on active users for each particular participation option.
The received VIB tokens can be exchanged to the items available in Viberate the online store or users can send Viberate tokens directly from their profile wallets to their personal wallets. At the press time, the customers can trade gained VIB token on five crypto exchanges including Binance and Bittrex, while the wider adaptation of Viberate issued token is on the way. The company announced the collaboration with Changelly and Jaxx wallet to enable its users to buy tokens via credit cards.
The newly implemented mechanism is a win-win strategy that leads to mutual benefits for both Viberate and its clients. Viberate gets promotion not only within music environment, but also expand the crypto market volume with increased number of its token holders. Soon, it may results into escalation in VIB token price.