Viberate has partnered with Blockparty to launch first of its kind, live performance NFT featuring the rights to a live performance and other exclusive content.
Viberate, blockchain-based music research and analytics platform has announced it will be testing out the ‘live gig NFT’ on April 29, 2012. The new concept reportedly offers artists an opportunity to verify their artist ID. It will also give them a platform to offer the rights to their live performance and other exclusive content.
As per the announcement, Blockparty will provide the platform for the test launch, while Viberate will verify the drop. The event will feature Uros Umek, Viberate’s co-founder, popularly referred to as Techno DJ UMEK.
While commenting on the drop, Viberate co-founder and UMEK’s manager, Vasja Veber, explained:
“Our platform includes blockchain, and we have our token (VIB), 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.”
The live event will be minting five different NFTs. These will include three unique remixes of UMEK’s 1999 legendary track hit, Lanicor, and two NFTs containing the rights to two of UMEK’s live performances.
According to Matej Gregorcis, co-founder and CEO of Viberate, the platform was founded on creating a marketplace for artists. While they are yet to launch the platform, they are currently updating their base products while adopting new products. Gregorcis further explained:
“The transparency component of NFTs is what inspired us most, really. After all, blockchain is an important part of our platform. We want to make it easier for both artists and organizers to arrange a secure booking and offer fans a customized experience at the same time.” He added, “NFTs promise a way to harness this exclusivity, improve existing arrangements such as live streams, and introduce a completely new way of making deals. We’re excited to see how the public reacts to the drop.”
If the test round proves to be successful, the platform plans to provide the option of gig tokens to the thousands of artists on the platform. It also plans to allow for the minting of artist ID NFTs through a secure verification process. These ID NFTs will reportedly act as a certificate of authenticity for both the buyer and the artists.