Viberate launches 2nd phase of blockchain registry for music venues and events

Following Viberate’s announcement of ICO and goal to list and map the entire global music industry, the company has just added 50,000 music venue profiles and more than 200,000 event profiles to its crowdsourced database. Venues and events join over 120,000 musician profiles already online since spring to enable cryptocurrency payments for live performances.
The development team of Viberate hit the 2nd phase milestone early, as the venue profile launch wasn’t supposed to be online before the company’s $VIBE token crowdsale. As previously reported, beginning on September 5th, Viberate intends to raise $12 million from selling VIBE tokens to fund further development.
The company believes the most valuable advantage is the use of the escrow service in the smart contract. Payments are a big pain for musicians, especially those who are without professional representation. Artists often can get screwed over by club owners, not wanting to pay the full fee if the night didn’t go as planned. Usually, this is not due to the artist’s poor performance, so he or she cannot be held accountable for low ticket sales.
Escrow solves this effectively, but offering such service in fiat currencies means dealing with piles of lawyers/paperwork, often one country at the time. Tokenizing the business solves this on a global scale.
Vasja Veber, Viberate Co-founder, and COO said:

“We believe it so strongly that the founders and existing investors will reverse vest their tokens for 24 months, which is a standard for VC investing, but definitely not for ICOs.”

The VIBE token explained (more info can be seen in the white paper):
1. DISTRIBUTION

2. BUYBACKS

3. ACCEPTING VIBE AS PAYMENT FOR SERVICES

4. PAYING FOR GIGS

Check out below an interview with Viberate founders and advisors, including Charlie Shrem explaing the potential and reasons for the project:
[embedyt] https://www.youtube.com/watch?v=0mNAdHL2R84[/embedyt]

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