VR Developer Uses Blockchain Technology to Build Immersive Entertainment Metaverse

| Updated
by Andy Watson · 3 min read

The demand for music artists to perform live shows exceeds their physical ability to handle a high number of shows, resulting in missed revenue opportunities.

Fans also miss out on the chance to see their favorite artists in person and enjoy the thrilling experience of a live event. The entertainment market is worth $2.3 billion globally and is growing – highlighting the increasing demand for performers.

The downside is that many celebrities are booked with as much as one year in advance. Furthermore, not all fans can afford to pay for travel to see their favorite artists like Lady Gaga or Katy Perry perform live.

New Blockchain platform Ceek is looking to connect artists and fans through virtual reality by developing a decentralized entertainment metaverse. Its aim is to extend the availability of events like concerts and shows, and enable artists to sell practically unlimited virtual tickets, along with digital and real merchandise.

VR and Blockchain Meets Entertainment Metaverse

Ceek is an award-winning virtual reality (VR) developer of hardware and software with a functioning VR headset that includes exclusive concerts from top artists like Katy Perry, Elton John, U2, Lagy Gaga, and more. Available in major online stores such as Best Buy, Target, and Amazon, the Ceek headset works together with the companion Ceek app on any smartphone.

By bringing together two industries – VR and Blockchain – the new project aims to empower fans to join a platform and attend their favorite live concerts in virtual reality in “Ceek City”. Ceek is on a journey to developing an entertainment metaverse where fans can participate in a vast array of activities. They will be able to use Ceek tokens to interact with their favorite artists, attend contests, buy proprietary virtual goods, and more.

An added benefit of Ceek caters to artists who can leverage the platform to stream their events in VR, invite fans to attend through the Ceek headset and app, and therefore increase revenues. By simplifying rights clearance, licensed music can be used by creators at global scale, thus removing bottlenecks and streamlining efficiency.

Celebrity Tokenization on “Ceek City”

With an already proven business model in place, the Ceek VR headset is designed for everyday consumers to experience VR.
Ceek City is also a place for developers who can help improve the platform by contribute to its development through Ceek’s APIs and SDKs. They can create venues, virtual environments, and different digital goods they can sell on the platform.

Ceek tokens empower labels, artists, and brands to create virtual stores, open untapped revenue streams through customized coins, merchandise creation and virtual tickets. By creating their own tokens within minutes with Ceek’s Coin Minting Tool, labels and artists benefit from royalty tracking and automated clearing license services through smart contract technology that ensures complete transparency and analytics.

A Decentralized VR Ecosystem for the Entertainment Industry

Ceek’s in-house features and proprietary technology (in particular, its award-winning VR headset) paves the way to a decentralized entertainment industry powered by Blockchain. Ceekers have the platform’s utility token at their disposal to perform transactions such as buy concerts tickets and virtual goods, whereas celebrities can mint custom coins to boost their revenue streams and satisfy the need of their fans to watch them perform live.

To fulfill the mission of developing an entertainment metaverse in VR, Ceek has partnered with huge names in the music industry such as Universal Music, Apple, and T-Mobile to help kickstart the project and instill more demand for fully-immersive virtual reality experiences. The Ceek VR Token Pre Sale has already started. Those interested to participate in the main sale can join until May 3rd of 2018.

Blockchain News, News, Technology News, Token Sales, Virtual Reality & Augmented Reality News
Andy Watson
Author Andy Watson

Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.