What is Viberate (VIB)?
Future of VIB Cryptocurrency and know how to buy VIB

#1 – What is Viberate?

Viberate – The Basics

Viberate, is the world’s biggest crowdsourced music platform. In its mission to curate 300,000 professional musicians, Viberate is utilizing the blockchain technology to change the face of the live music industry.

With a decentralized system of operation, the platform ventures to eliminate the role of third parties in live music events. In doing so, it creates an ecosystem of musicians with access to a live marketplace and opportunity for all.

The database ranks musicians on the basis of their popularity, computed from their social media handles and ticketing services.

Viberate Development

Viberate started off as a project for ranking DJs with a database of 2000 DJs. Matej Gregorčič and Vasja Veber worked on this project together and gave birth to Viberate. The DJ database was further developed into a catalog of 50,000+ musicians which went through a massive expansion to culminate into Viberate. The database was upgraded from only a list of musicians to cataloging music venues, agencies, and events.

 

#2 – What are the benefits of Viberate?

Viberate Technology

  1. Viberate works as a blockchain platform with profiles of many musicians, events, venues, and booking agencies. All these profiles are listed in customizable charts that make it easier for the users to filter them according to categories. This way, Viberate makes for a networking tool for the participants of its music ecosystem as well as a business platform.
  2. The database creates a marketplace for both B2B and B2C exchanges. Booking agencies can book musicians from a huge collection of artists. The users, on the other hand, can find all the gigs in one place and book their tickets.
  3. As stated in its whitepaper, Viberate is a matchmaking platform, doing the same work that event organizers have been doing for all the while, but on a digital portal. The process of negotiation between the artist and the agency takes place via a smart contract that lists all the details, like:
    - The date,
    - The venue,
    - The time of the performance,
    - The duration,
    - The fee, and
    - The hospitality requirements.
  4. The platform also uses the VibeBridge to perform two important functions:
    1. - It enables the users to exchange tickets on Viberate via DTX, a P2P exchange platform. The VibeBridge works as a central entity here ensuring that the tickets are legitimate.
    2. - It also links all the events created on the platform directly to Viberate’s social media channels. Therefore, the fans get all the information on time.

Features

  1. Huge Database: One of the biggest advantages of Viberate is its massive catalogue. With 300,000 musicians and thousands of venues and agencies listed on the platform, Viberate is bringing together the live music industry at a single spot.
  2. Reward System: Viberate’s growth is driven by its token VIB. Therefore contributors on the platform are rewarded in terms of VIB tokens through a unique reward protocol. Services like referrals, adding new profiles, writing content, and more are rewarded.
  3. Marketplace: By digitizing the role of the booking agencies, Viberate is creating an online marketplace for the musicians, the agencies, as well as the fans. Its decentralized system makes it all the more trustable and secure.

Transactional Process

The transaction process involves the users accessing the database and smart contracts via DApps. They can either create their own crowdfunding events or join an existing one. They have to then add important details regarding the events, such as the date, time, venue, musician’s name, and more. Once the event reaches the crowdfunding goal, the artist and the venue receives the message for the available budget to organize the event.

Corporate Usage

  1. Viberate offers a lot of scope for the music media and streaming services. It not only presents all the information about the upcoming gigs but also provides music analytics profitable for their business.
  2. By eliminating the role of agents, the platform gives a direct opportunity to the venue owners and the musicians. It is also advantageous for the event organizers to work in a secure environment without any threat of fraud.
  3. On a B2B level, Viberate has multiple use cases. It is a marketplace as well as a target advertising platform. It is a data analytics portal on top of being a tool for networking. For the B2B segment, it is a ticketing business.

Value Proposition

Viberate’s white paper states that the annual turnover of the music industry is $250 billion USD. Apart from the 50 million live music events that take place around the world in a year, there are millions of artists that are overlooked and left bereft of opportunities to perform live. Keeping in mind the growth of the live music industry, Viberate proposes to earn $35 billion USD in terms of the unrepresented artists.

 

#3 – How to buy and store VIB?

How to buy VIB

VIB is Viberate’s token available for the users to operate on the platform through investments and rewards. It is available for purchase on exchanges like Binance, Bittrex, HitBTC, Changelly, and Livecoin.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you to exchange your cryptos for Viberate. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your VIB cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The VIB tokens can be stored in any ETH wallet like MyEtherWallet since they are ERC20 compliant. Other storage options include hardware wallets like Ledger Nano S and Trezor. Exodus and Jaxx are also the storage wallets for VIB.

 

#4 – What is the future of Viberate?

  1. Viberate is currently in partnership with Mixmag, the world’s biggest dance culture magazine. The platform was also recognized as one of the eight best European music startups by the European Commission’s Music Moves Europe Initiative.
  2. It has also received complete support from the Ministry of Economic Development and Technology of the Republic of Slovenia.
  3. From testing the market for DJs in 2013 to its ICO launch campaign in 2017, Viberate has established itself as the world’s biggest music database. It launched its “event organizer profile” feature in 2018 Q1.
  4. For the future, it is working on integrating the ticket sales platform by affiliating major ticket vendors into its main database. Viberate also plans to create its own system of ticket sales.
  5. Q4 2018 is planned to witness the upgrade of the platform’s communication channels to facilitate the business and booking facilities.
  6. The ultimate aim is to popularize the platform through global marketing and sales campaign to maximize the public usage.

Also Read: Complete Analysis of Viberate | Live Viberate (VIB) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.068849

0.073079

0.068152

0.072168

1,617,720

11,753,900

June 01, 2018

0.132793

0.134757

0.127670

0.131174

2,407,620

22,493,300

May 01, 2018

0.215549

0.222669

0.203838

0.220986

5,109,840

36,223,600

Mar 01, 2018

0.232770

0.337502

0.231948

0.265113

47,936,900

38,410,800

Dec 01, 2017

0.122238

0.134583

0.114044

0.131197

2,562,970

19,637,600

Nov 01, 2017

0.179497

0.189900

0.148868

0.159242

1,261,310

21,539,600

 

#5 – How is Viberate different from other cryptos?

Platforms like Musicoin, Creativechain, and Soundchain are using the blockchain technology to digitize the royalty collection process in the music industry. Viberate, on the other hand, has its focus on the live music sector. For now, there are no competitors in the blockchain ecosystem.

Traditional booking agencies, however, operate as a competition for Viberate. The platform has several unique features that make it stand out as a more beneficial option.

  1. The VibePulse app makes it easier for the users to go through all the information about the events and their details. It also integrates the Viberate platform to its social media channels to publicize each event.
  2. Viberate works as a marketplace for all talent irrespective of their fame. Any musician from any genre belonging to any place in the world can operate through Viberate and get crowdfunding for their events.
  3. Its industry insights and analytics, collected through an exclusive software, also make it important for music journalists and service operators.
  4. Unlike the traditional booking agents, Viberate offers a sales channel between the artists and the event organizers. Therefore, the trap of commission is removed and all the due profits are paid.

 

#6 – Should you invest in Viberate?

  1. Viberate caters to the needs of an essentially outdated live music industry in a rapidly digitizing world. By creating an ecosystem of artists, agencies, venues, and fans, the platform endeavors to integrate the global music setup under one roof.
  2. The purposes that it fulfills only indicate at its positive potential for the future. A considerably new token, VIB is expected to grow stronger in the coming time.
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