Finance Magnates (04/20/21)

Blockchain-based music research and analytics platform Viberate will partner with digital asset marketplace Blockparty on a live performance non-fungible token (NFT), testing the concept's viability for the music industry. The NFT will feature the rights to a live performance and other exclusive content by Techno DJ UMEK, who will offer five different NFTs. Buyers will either purchase the rights to one of UMEK's original remixes, or book him for an exclusive online event or for a real-life live performance. "Our platform includes blockchain and we have our own token [VIB, listed on Binance, Bittrex, OKEx and Uniswap], so tokenizing the rights to a live performance seemed not only the logical next step in the evolution of NFTs, but also an exciting opportunity to explore how the live music industry could handle bookings in the future," declared Viberate co-founder Vasja Veber. The partners will use the drop to pilot the concept of a "gig NFT," with Viberate planning to offer the option of gig token minting to nearly 500,000 artists in its database, as well as minting artist ID NFTs via a secure verification process. These ID NFTs will function as a certificate of authenticity, reassuring buyers that the contents originate from a verified artist.

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