Viberate aims to create a blockchain-based music ecosystem. Based on the Ethereum platform, the platform uses smart contracts to solve age-old problems in the industry. These problems are reflected in the live music performers in developing markets, determining the value and price of performances, negotiating contract terms, enforcing agreements and getting paid. . The main pillar of the Viberate platform is a new database with millions of artist profiles, where artists are ranked based on their popularity on social media; at the same time, the platform also has a token reward program for singer fans, A process for booking singers, and a blockchain-based contract and payment system.

Project Highlights

The Viberate platform provides better services to different roles in the music ecosystem than traditional markets to reshape the entertainment industry.

1. Supply side: Singers
Singers rely on their managers to get enough gigs to make a living. However, most singers don't get the chance to get noticed. Only a very small number of singers in the world have suitable managers. They are lucky to have music as their main source of income. The rest of the singers are on their own, struggling to survive in an already saturated market, dealing with marketing, sales, social, legal, tax and debt collection on their own, unable to focus on making music.
Many times, these artists do not have a contract, and often do not get paid for their work, or are not able to work legally at all (e.g. cash payments, tax evasion). Without the support of a strong and honest agency, artists often run into trouble in these areas. For those artists who cannot enjoy brokerage services, they urgently need companies that can provide brokerage services effectively and safely. Blockchain technology provides the best tools for this task.

2. The demander: the performance organizer
The demander is the performance organizer. They have to stay on top of live music trends and are constantly looking for the right singers to add to their lineup. In a bustling city, a good gig organizer can arrange multiple singers to perform three or four times a week. Such a high frequency will quickly lead to the organizer not knowing which singer to book next. The product of a show promoter is tickets, and their main goal is to sell as many tickets as possible. To do this, they need good shows and good ticket sales channels. Also, when booked artists don't have an agent or company representing them, undertakers can have problems paying unless they agree to pay cash, which is usually illegal from a tax perspective. Dealing with lower-profile artists can also lead to issues such as no shows, poor performances, other issues related to a poor booking process, and not having a clear and exhaustive contract.
The Viberate platform provides a complete set of solutions for show organizers, ranking singers according to their popularity on social media.
The Viberate analysis engine is capable of processing data analysis of social media and streaming media sites, and can analyze billions of data points every day. For each profile introduction, the analysis engine is connected to the public and private API of the analysis channel, processing and saving the data of online singer popularity and fan comments. The data is then compared with previous periods of time and presented in a simplified graph. It enables the organizer to easily select singers, and formulate blockchain-based smart contracts to regulate the behavior of both parties.

Token Value

1. Rewards
The Viberate platform uses VIB to reward contributors for the following actions: registering services (welcome rewards), referring friends to the platform, promoting services, adding new profiles to the database (edit Points are awarded when the team verifies the material), managing existing material (points are awarded when the editorial team accepts a suggested change), and writing editorial content.
Initially, the bonus pool will be funded by funds raised through the ICO, with a bonus amount of 5% of the total number of issued tokens (10 million VIBs). In addition, profits earned by Viberate from its operations will also fund the prize pool. Part of the profits in ETH will be used to buy back tokens from various exchanges from time to time. The tokens will then be put into a prize pool for further rewards.

2. Payment
Fans can crowdfund funds to pay for an artist's performance, or purchase tickets for existing performances through Viberate's DTX ticketing system. All performance expenses can be paid with VIB, including venue fees, technical fees, artist appearance fees, etc.
In addition to VIB can be paid during performances, artists can also use it to buy exposure, get contact information of big names, etc. There are various uses, covering various spending behaviors in the entertainment industry.