Viberate Coin Analysis
Viberate Coin is a cryptocurrency. The following lines will show you the relevant facts and efeatures worty to know about this one.
When analyzing new financial instruments, especially unstable and without a real story, it pays to be more attentive. At Viberate Coin, at least on the surface, there doesn't appear to be much about fraud prevention.
Instead, there is plenty of information about how they want to create a community around live music and expand the database with live performances. The business model of Viberate Coin is complex. By uniting the venues and activities where events are performed, they create a platform where they can charge fees for their activities.
Viberate Coin is a platform that unites all live music under one roof. Currently, it acts as an IMDB for live music, where profiles are ranked by their popularity on the Internet. It is created and maintained by the community of Viberate users. The ultimate goal of the project is to revolutionize the music industry as we know it – becoming the world's largest talent market.
“”We've been able to create a database with the help of more than 50,000 attendees, and we'll always keep them open for everyone to share in their relevance – these 50,000 Viberate depositors have not gotten anything for their contribution. Blockchain technology allows us to reward them for their work with Vibes (VIB)”” commented the project leader.
Models of income
Viberate Coin wants to expand and advance the use of its tokens outside the platform. It aims to make the token the “”standard token in the music industry,”” so that it can be used in digital music sales, ticket sales, event sales, products, and more. To this end, Viberate has a range of potential and workable income models. The most interesting model is the Distributed Ticketing Service (DTX).
DTX enables people to buy and sell tickets for events through the Ethereum Blockchain system. Each ticket is created as your own ERC20 token that can communicate with the Vibe application itself.
All Ethereum wallets can be connected to the event or the Ethereum ATMs can sell tickets. This, in itself, revolutionizes the Ticketmaster model and prevents the work of some ticket scalping experts. The platform can provide a big income if it is integrated into several large arenas. As a reference, the parent company Ticketmaster costs more than 7 billion US dollars.
Other income models
Another model of income that seems most obvious is the booking commission model. Agents today earn up to 20% of each event. Obviously, Viberate Coin can compete with these numbers, offering a better price and a much wider variety of possible events.
Viberate wants to build partnerships with other sectors in the music industry and sell advertising to its members. The platform can sell to members directly or through intelligent contracts integrated into the platform. However, it is easy to assume that this aspect is detrimental or undesirable, as 21st-century progress shows a completely different case study.
A probably less valuable feature is the access fee. It is believed that they want to extend this to services with behind-the-scenes access. In the end, this offer might not have a widespread appeal.
One of Vibe's main goals is to invest in service growth. Viberate Coin has always been a collaborative project. The original database of musician profiles was created with the help of more than 50,000 participants who did not receive anything for their work.
Sometimes it's enough in itself to be a true music fan and be part of something big. However, the platform will begin rewarding community efforts with vibes from the fund. The platform will benefit from profits from improving business models.
Like many others in its class, the Viberate token will only have real value within its ecosystem. They can be used to buy tickets, record music, add musicians to their own databases and much more. On September 5, a fixed number of 200 million tokens were released, with 60% of them being put up for sale. The initial price was pegged to the US dollar at 10 cents, but with some bonuses.
5% of the 200 million tokens are dedicated primarily to the remuneration of the participating members of the community who continue to expand the platform. Another 27% will be held to reward early investors, to fund the work of employees and future partnerships.
The Vibe tokens are useful on the Viberate application or in a standard wallet that is compatible with ERC20. The wallet can be used to personally transfer the tokens, to be used at events or for other purposes.
Conclusions and risks
This may be the biggest idea for the music industry, but this does not mean that financial investment will be profitable. The battle with the established industry, which has many internal competing interests, is complex and potentially dangerous. The risk in this product is higher than that of many others because it requires a lot of social capital.
The industry, full of intermediaries, is a lively ecosystem, strongly opposes the revolution of this kind. Market penetration can be very slow and weak, which will affect token costs. Too much emphasis on the rewards and problems in the community can cost time and resources. The project is mainly aimed at consumers.
The potential for growth of Viberate Coin
Live music is not going away and is getting more and more valuable as record sales continue to decline. The potential of services that benefit the industry is huge and even a 10% market gain with the DTX product would mean nearly $1 billion in annual revenue.