Viberate announces ICO for music artist-booking, payment platform
Slovenia-based crowdsourced global live music ecosystem, Viberate has announced an initial coin offering for its platform, which empowers music artists to accept cryptocurrency payments from event organizers.
By the same, er, token, the Viberate's database of 120,000 artists and musicians — ranging from "the most famous musicians in the world to small garage-bands" — makes it easier for organizers to sign an artist for any event.
Transactions on the blockchain-based platform use Vibe tokens (Ether and bitcoin are also accepted). The company's tokens will be offered to investors in a crowdsale beginning Sept. 5, according to a press release.
Viberate said in the release that, unlike many ICOs, it already has a successful, fully functional platform. Artists join by adding their profile or claiming an existing one. British superstar Robbie Williams is one among the many artists who have already claimed their profiles, the release said.
Viberate was chosen by the European Commission as one of eight European startups to change the global music industry; bitcoin legend Charlie Shrem and Stanford professor and Pinterest Chief Scientist Dr. Jure Leskovec are among the advisors behind the platform's development and operations.
Viberate has set the total cap for Vibe tokens at 200 million, out of which 120 million will be made available for purchase during the public crowdsale. All funds raised will be held in a multi-sig wallet controlled by the team council, the release said.