Viberate.io Enables Cryptocurrency Payments for Music Artists, ICO Starts In September
| Updated by Anastasiya Vanyukevich · 3 min read
Meet Viberate – a crowdsourced live music ecosystem that will revolutionize the global market.
What can be heard more than music when it comes for relaxation and pleasure? And what can appear to be more repetitive than it when radio stations play same song over and over again until you can’t really handle it anymore? This is one of the consequences of the music business centralization, claim founders of the brand new music platform – Viberate – which would join the entire live music ecosystem under one roof.
Viberate is a true IMDB for live music where musicians’ profiles be they a rockstars or a small garage bands are rated basing on their popularity in the Internet. The service is built and supported by its community which already has over 50.000 contributors and aims at turning the music industry upside down by become the biggest talent marketplace. Viberate data base, its community, functions and approach are four key elements that make it revolutionary and unique.
Viberate opens live music world to anyone who can be part of it, decentralize booking processes by using blockchain technologies. The platform’s decentralized as well as it provides free data base for adding new musicians and it’s still open for those who want keep it relevant. Use of blockchain technologies for drawing attention is the only rational way to support the base’s up-to-dateness.
The platform’s primary goal is to offer musicians from all over the world the opportunity to set their profile and start offering gigs to event organizers in exchange for Bitcoin, Ether or their own VIBE (VIB). By the way, some of they have already done that. The list of musicians has already got over 120 names with such notable as Robbie Williams and others, proving that Viberate has received some recognition from big names and $1 mln support from Angel investors.
But it’s not enough for the team and now they are about to raise maximum of $12 million worth of ethereum in the second round. Its crowdsale starts on September 5 and Viberate will offer a total of 120m VIBE tokens out of the total supply of 200m available. Viberate’s ICO will run for 30 days with the initial VIB token value set at 0.00025 ETH.
60% of VIBs will be sold in the ICO to secure funds to ensure further product development, operations and international extension, 16% of tokens will be held by project founders and the rest of the team involved, 8% of tokens will go to the project’s advisors and ambassadors who shared their experience and advice, 7% will remain for the future partners.
Viberate also encourages community participation to boost the platform’s growth. Early stage angel investors and those who helped to fuel the idea will get 4% of tokens while 5% of VIBs is intended for the initial stocking of the bounty pool to award contributors, who help build and curate our database of entities.
Viberate also offers a special discount for early contributors. The discount rate will decrease every week, starting at a 48 hours bonus of 12%, week 1 bonus of 9%, week 2 bonus of 6% and finally a 3% bonus on week 3 participation.
To take part in the ICO, individuals can create a wallet on MyEtherWallet.com, Parity or Mist and деук purchase Ethereum (ETH) from various exchanges such as Coinbase or Bitsquare, or buy with other cryptocurrencies from platforms such as Bittrex and Poloniex.
After that ETH should be sent to a set address and tokens will be distributed immediately into one of the above-mentioned wallets. VIBs will remain locked until the end of the crowd sale due to security reasons.
Being the main author of TheBlogIsMine news portal in the past, Anastasia has significant experience in observing such fields as tech and business. Now she wants to explore a new area – FinTech. Passionate researcher on technology topics eager to know about what's shaping the future – and how to respond.