After Viberate, a blockchain platform for live music, raised 10.7 million dollars in under five minutes, the Vibe token will be unlocked and listed on the first exchange, starting October 6.
“Based on numerous questions regarding the first listing, we believe this is one of the most anticipated coins in 2017. We can’t wait to see how the market will respond,” said Vasja Veber, cofounder and COO. Veber expects that other – also bigger – exchanges will follow which means many more people will get the opportunity to acquire Viberate’s tokens for the live music industry.
The Vibe token will be used to reward contributors, pay for artists’ fees, buy tickets and other activities that will gradually become an integral part of the platform. Viberate.com currently works as IMDB for live music, where profiles are ranked according to their online popularity.
It already has more than 130,000 profiles of musicians as well as around 50 thousand venue pages. Funds, raised via token crowdsale, will be used to upgrade and extend the platform with blockchain features, allowing Viberate to become a comprehensive solution for live music industry.
Next steps in the development process include introductions of a booking agency profile directory and a first version of Viberate’s rewarding program for contributors. “If you do not have any Vibes yet, you will soon have a chance to earn some by helping the platform grow,” Veber explains.
He also adds: “As far as our work goes, we will stick to the plan and keep meeting deadlines, regardless of the price movement. Our development plans can’t be distracted by anything, which shouldn’t be a problem, since most of our own tokens are vested anyway.”