Blockchain-based music research and analytics platform Viberate (whose native token VIB is listed on Binance, Bittrex, OKEx, and Uniswap) will test the world’s first concept of a “live performance NFT” in partnership with digital asset marketplace Blockparty.
The upcoming “NFT drop” (the release and subsequent 24-hour auction of non-fungible tokens) will feature the work of world-renowned Techno DJ and Viberate co-founder UMEK. Specifically, three exclusive remixes of UMEK’s 1999 hit track “Lanicor”, one livestream performance, and one live gig. Simply put, the buyers of UMEK’s NFT will either purchase the rights to one of his original remixes, book him for an exclusive online event, or book him for a real-life live performance. Viberate will also be verifying the drop.
“We’re excited about NFTs and blockchain technology in general, as it really opens up new opportunities for artists and organizers to create transparent and secure bookings,” explains Vasja Veber, Viberate co-founder and UMEK’s manager. “The industry’s been in a sort of limbo this past year. As there are no live events, the artists try to make do by streaming their performances, but there’s no clear answer as to when and how things will return to normal – or even what ‘normal’ will mean by then. We hope to prove a concept with our NFT drop: any artist can make sure they’ll have a booking waiting for them once live gigs are back in the picture, and the terms of that booking are agreed upon in advance.”
If the concept is validated and deemed promising, Viberate plans on providing the option of gig token minting to nearly half a million music artists in its database, along with minting artist ID NFTs through a secure verification process. These ID NFTs will then act as a certificate of authenticity, reassuring the buyer that the contents indeed come from a verified artist.
So far, several music artists have explored the possibilities of NFTs in the form of collectible albums, VIP tickets, digital art, and other concepts. The upcoming drop by Viberate, UMEK and Blockparty is the first to propose an entirely new way of booking artists, no matter whether they’re backed by major labels or working independently.
UMEK’s NFT drop will launch on Blockparty on Thursday, April 29, 2021, at 8:00 pm GMT+1 (3:00 pm EST).
Aarron a crypto currency enthusiast who writes for his own blog at CryptoCurrencyAnalysis.com as well as several other crypto currency news websites. In his free time, he enjoys reading, soccer, and spending time with his wife and two children.