Place/Date: Stockholm, Sweden - December 15th, 2021 at 12:58 pm UTC · 4 min read
Contact: David Rootwelt-Norberg, Source: Centaurify OÜ
Centaurify, a revolutionary NFT ticketing service that incorporates smart contract use to revive the pandemic-ridden music industry announced it has been verified on the Flooz platform and users can now trade the native token $CENT on it. Users can buy $CENT against the Ethereum pair on the platform via simple swap. Apart from Flooz, $CENT is available on Uniswap as well. The Centaurify team aims to alleviate all of the aforementioned pain points while also materializing new concepts that will boost artists’ efforts and provide them with the financial stability and appreciation they deserve.
The music industry has become extremely centralized in recent years. Due to the low kickback from streaming platforms, only a few can make a decent living by streaming their work. As a result, musicians are constantly on tour, appearing on reality shows, and taking on image-damaging commercial work. As a result, they have had to sacrifice family and personal time, as well as time to create new music, which they all enjoy. The COVID-19 pandemic hasn’t helped in any way, limiting musicians’ ability to tour. Centaurify’s aim is to re-empower musicians while also building a global community around the cause. Centaurify is doing just that by re-empowering and giving back to the Artists, Organizers, and the staked Holders through the smart contract and tokenomics.
Companies that control the entire market and the end-to-end process for ticketing sales of concerts and live performances currently dominate the music landscape. As a result, they are able to set the tone for ticket pricing and directly benefit from bad actors who are able to exploit the system and sell tickets way above market rate without the artist being able to profit from the sale and, more importantly, exploiting the artist’s fans. Centaurify is the last step toward artists becoming self-sufficient in the music industry, allowing them to manage their own ticket sales, protect their fans, and avoid losing money to middlemen. Centaurify is a platform that allows artists to create fully fledged community economies without having to bow to faceless corporations.
Centaurify is designed from the ground up by music and concert industry veterans, it is set to become the leading Music-NFT-DeTi (Decentralized Ticketing) platform, ensuring musicians’ and music creators’ independence and allowing them to run their own events and live performances. Centaurify platform is based on two simple principles: artists should have direct control over the ticket minting process, as well as full control over the secondary markets for their tickets.
Selling tickets as NFTs allows artists to maintain control over their ticket markets, allowing them to determine the minimum and maximum ticket prices while still making a profit and preventing bots and scalpers from exploiting their followers. The ability to control the secondary market also allows artists to continue to profit from all secondary sales, which is unheard of in traditional systems. Giving artists more control will give them unprecedented amounts of freedom to run their shows and live performances the way they want, and with society continuing to reopen, the concert scene is expected to revive dramatically.
To ensure that artists have complete control over their performances, the Centaurify Platform is built around three main functionalities. First, minting each ticket as a one-of-a-kind NFT, fans are safeguarded from counterfeit and false tickets, and they can track the ticket’s complete transaction history to ensure that it came from the artist and their teams. Second, artists can tailor the precise characteristics of their NFT-Ticket by using smart contracts to set resale threshold values and prevent the scalping market from forming or becoming highly exploitative. Finally, because each ticket’s parameters can be customised, artists can code them so that every ticket sale, whether primary, secondary, or tertiary, generates revenue for them, and they can effectively facilitate the entire ticketing market rather than leaving it to a potentially malicious third party.
Centaurify was created to assist artists with making a profit from their tickets. With its NFT ticketing system, the Centaurify platform is designed to support the artists’ creativity and expression. Centaurify also supports the primary and secondary markets by allowing artists to personalise their ticket release schedules and date. Regardless whether a ticket is sold on the primary or secondary markets, the artist will receive a 2% reflection of the value, which may be adjusted in the smart contract. The artist can define the horizontal boundaries of ticket pricing for the secondary market to ensure that tickets are not sold beyond or below price thresholds. This is to prevent scalpers from advertising tickets for multiples of the original price and exploiting fans.