Viberate raised almost $ 11 million with under five minutes

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by Andy Watson · 4 min read
Viberate raised almost $ 11 million with under five minutes
Photo: Viberate

Viberate has successfully completed its crowdsdale. $ 10.7 million in 4 minutes and 42 seconds!

Viberate has officially joined some of the most successful crypto projects to date.  It is a decentralized platform from a Slovenia-based startup designed to connect musicians with event organizers from all over the world. Viberate data base, its community, functions and approach are four key elements that make it revolutionary and unique. The project was founded by a team of skilled managers and team leaders with an extensive experience in the music business.

The foundations of the extensive musician database go all the way back to the pilot project, a simple ranking service for DJs. The team started off as a directory of no more than a couple of thousand DJs, but soon grown into a massive database of over 50.000 musicians.

Over the years, they’ve expanded to all music genres and upgraded their database to 120.000 musicians, 40.000 music venues and 60.000 events. Soon they’ll be adding profiles of booking agencies and event organizers.

Viberate has always been a community-based service. After the initial database was opened to public, it was the users who manually entered and curated the majority of musician profiles. There was no awards system in place at that time, it was solely the desire to participate in the project that was driving them.

With the database and communication channels in place, the platform enables the implementation of a live music marketplace.

On a B2B level, event organizers will be able to book musicians directly through the service and to sell tickets through Viberate on a decentralized system (via DApp) without intermediaries. On top of that,  fans will have a chance to sell already purchased tickets on a secondary market.

Vibrate is set to transform the current live music industry just like Netflix changed TV and Airbnb changed the renting sector. With a new service, musicians will be able to increase exposure regardless of their popularity and monetize their services to earn the digital currency, including bitcoin, ether, and the platform’s own cryptocurrency called Vibe.

“We now have another validation that we are on the right track. However, this is still just another milestone achieved. There is a lot of work ahead of us, but – as promised – we will keep on delivering,” said CEO Matej Gregorčič.

Viberate has successfully completed its Vibe token crowdsale in record 4 minutes and 42 seconds. The crowdsale raised  10.7 million dollars, selling the total planned amount of Vibe tokens – 120 million. Tokens will be delivered to contributors immediately and become available after the official end of ICO on October 5, 2017.

On the next day (October 6, 2017) Vibes will already start trading. The first exchange to list the token will be, Gregorčič announced. “This way all latecomers will get the opportunity to buy the tokens,” he added.

Viberate crowdsale has been one of the fastest and most anticipated to date. “People have seen that Viberate already has value and a Viberate community covering our backs. That is probably refreshing to see in the ICO world,” Gregorčič explains.

The crowdsale has been launched from company’s offices with a special set from world famous DJ Umek who is also a co-founder and a celebrity ambassador. The performance – also attended by high profile advisors Dejan Roljić, CEO and cofounder of ABC accelerator, and Mark Pleško, CEO and cofounder of Cosylab – has been live streamed on Facebook and it can be viewed here.

Funds, raised in today’s token crowdsale, will be used to upgrade and extend the platform with blockchain features, allowing Viberate to become a comprehensive solution for live music industry. It will primarily act as a gig-booking platform between musicians and event organizers where stakeholders will be able to pay and be paid in cryptocurrencies, Vibes as well as Ether.

Blockchain News, News, Token Sales
Andy Watson
Author Andy Watson

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