Blockchain-based music research and analytics platform Viberate will test the concept of a “live performance NFT” in partnership with digital asset marketplace Blockparty.
In their latest announcement, Viberate (whose native token VIB is listed on Binance, Bittrex, OKEx, and Uniswap) announced the first-ever NFT featuring the rights to a live performance and other exclusive content by one of its founders, renowned Techno DJ UMEK. UMEK’s offer will include five different NFTs: three exclusive remixes of his 1999 club-favorite “Lanicor”, one livestream performance, and one live gig.
The buyers of UMEK’s NFT will thus 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.
Several artists have already made waves selling their NFTs, either as music releases, special tickets, tour bundles or digital art. UMEK’s upcoming drop is the first to explore new possibilities for musicians to secure and manage their future bookings once live events return.
“We’ve been actively involved in the crypto scene for the last several years,” explains Vasja Veber, one of Viberate’s co-founders and UMEK’s manager. “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.”
Viberate and Blockparty will use the drop to test the concept of a “gig NFT”. If it is validated and musicians and organizers show interest, 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, not someone offering other people’s work.
UMEK’s NFT drop will launch on Blockparty on Thursday, April 29, 2021, at 8:00 pm GMT+1 (3:00 pm EST).