Viberate Testing Out “New Music Economy” With Music NFTs

The concept of blockchain-backed contracts could transform how artists manage their bookings – but is the industry ready?

Following their historic live gig NFT drop in April, the blockchain-based music research and analytics platform Viberate (whose native token VIB is listed on Binance, Bittrex, OKEx, and Uniswap) has just published an open call to all musicians who might be interested in what they call “new music economy”.

With it, Viberate plans to test whether the NFT craze is more than just a fad, and whether the music community is indeed ready to start managing bookings and fan engagements with the help of big data insights and tokenized contracts.

Vasja Veber, Viberate co-founder, explains the initiative further: “We strongly believe that blockchain-backed bookings and customized fan experiences are the natural way forward. We just have to decide to start accepting them sooner instead of later. It’s time to ditch the old-school way of doing things and start relying more on the amazing power of the internet, making the business more transparent and secure. After all, the music industry managed to survive a pandemic year by doing everything online, so what more proof do we need?”

Viberate proposes three main NFT categories: live performance NFTs, livestream NFTs, and customized “experience” NFTs (artists engaging with their fans on- or offline, e.g. going shopping with them). Any interested artist or their representative can submit their NFT application here.