Analysis of the potential of "Cloud Music Platform"-VIB, which rose 140% in one day

Today we continue to talk about a project that doubled in one day. Many friends in the loom group we talked about the day before yesterday should have made some money. It was 0.4 when we shorted it, and it reached 0.17 today. The project has no value, but our program is valuable. Today we discovered another project that doubled in one day, which is VIB. Is it like loom? In fact, it should be the NetEase Cloud Music platform in the blockchain industry. Its current market value is relatively low, only 20 million US dollars, and it has doubled. Its market value ranks nearly 600th. Let’s take a look at it today.
Introduction
Viberate is a platform that brings together the entire live music ecosystem under one roof. It currently serves as the IMDB of live music, ranking based on online popularity. It is built and curated by Viberate's user center. Viberate's ultimate goal is to disrupt the known music industry by becoming the world's largest talent marketplace. Viberate's database, community, holistic and marketplace features are four elements that make its service unique and innovative. The foundation of its extensive music data all goes back to the pilot project, a simple DJ ranking service. The developers started with a directory of no more than a few thousand DJs, but quickly grew into a massive database of more than 50,000 musicians. Over the years, Viberate expanded to all music genres and upgraded the database to 120,000 musicians, 40,000 music venues and 60,000 events. Since anyone can contribute to the growth of the Viberate database. The database is growing every day, and at this rate, Viberate plans to gradually grow to millions of entities around the world.
Project Highlights
The Viberate platform reshapes the entertainment industry by providing better services to different roles in the music ecosystem than the traditional market.
1. Supplier: Singer
Singers need to rely on their managers to get enough gigs to make a living. However, most singers never get the chance to get noticed. Only a tiny fraction of singers in the world have the right managers. They are lucky enough to be able to make their main income from music. The rest of the singers are left to work independently, struggling to survive in an already saturated market, dealing with marketing, sales, social, legal, tax and debt collection issues on their own, rather than focusing on music creation.
Many times, these artists do not sign contracts, often fail to get paid after working, or are unable to work legally (such as paying in cash, tax evasion). Without the support of strong and honest intermediaries, artists often run into trouble in the above areas. For those artists who cannot enjoy agent services, they urgently need companies that can provide agent services effectively and securely. Blockchain technology provides the best tool for this task.
2. Demander: Performance organizer
On the demand side are promoters. They have to stay on top of what’s trending in live music and are constantly on the lookout for the right artists to add to their lineup. In a busy city, a good promoter might be able to book multiple artists for three or four shows a week. That high frequency can quickly lead to promoters not knowing which artist to book next. The product of promoters is tickets, and their main goal is to sell as many tickets as possible. To do that, they need good shows and a good ticket sales channel. Additionally, promoters can have problems with payment when booking artists who don’t have a manager or company representing them, unless they agree to pay cash, which is often illegal from a tax perspective. Dealing with low-profile artists can also cause problems with no-shows, poor performances, and other issues related to a poor booking process and not having a clear and detailed contract.
The Viberate platform provides a complete solution for performance organizers to rank singers based on their popularity on social media.
The Viberate analytics engine processes data from social media and streaming sites, analyzing billions of data points every day. For each profile, the analytics engine is connected to the public and private APIs of the analytics channel, processing and saving data on online singers’ popularity and fan comments. The data is then compared with the situation in the previous period and displayed in a simple graph. This allows the organizer to easily select singers and formulate blockchain-based smart contracts to regulate the behavior of both parties.
product description
1. Currently, there are two products: one is a big data analysis tool called Viberate analytics, and the other is a service for singers, similar to a distribution platform or a display platform. Let's take a look at each one.
1.Viberate analytics
The big data analysis platform for global stars currently contains 17,727,536 star data. You can then search for the type of singer information you want based on different social platforms (such as Twitter, YouTube), countries, singer types, number of fans, etc. It is a very comprehensive big data star tool, very suitable for star agencies and organizations to find stars. For example, if Company A wants to find a star to endorse its products and has a limited budget, it can find the fastest rising star in the rap field in Asia.
Currently, this service has launched a paid model. It is basically difficult to use in normal mode, and you must pay to use it more conveniently. The current Premium version is 9.9 euros per month, and there is also an enterprise version that provides API and customized needs.
2. Celebrity display platform
The main function of this platform is to provide celebrities with a platform to build their own main website. In the personal main website, you can display your basic information, album information, and some big data tables, such as your occupational health data, career performance, audience distribution, comparison with similar celebrities, etc. The content is very rich. Currently, this also offers a paid model, 3.25 euros per month.
Token Economy
The current total token amount of the project is 200,000,000 VIB, and 199,995,000 VIB have been unlocked. Basically, all of them have been unlocked. The current price of the coin is 0.09 USD. It was first issued in 2017 and reached a peak of 0.7 USD in 2018. So far, it has fallen by more than 90%. In terms of token distribution, the proportion given to investors is relatively high at 60%. The team itself took 16% and the future cooperation reserve is 7%, so the proportion taken by the team is not very high.
Token Value
1. Rewards
The Viberate platform uses VIB to reward contributors for the following actions: registering for the service (welcome bonus), referring friends to the platform, promoting the service, adding new profiles to the database (points will be awarded after the editorial team verifies the profile), managing existing profiles (points will be awarded when the editorial team accepts the change proposal), and writing editorial content.
Initially, the bonus pool will be funded by funds raised from the ICO, with the amount of bonuses equal to 5% of the total number of tokens issued (10 million VIB). In addition, the profits earned by Viberate from its operations will also fund the bonus pool. Part of the profits in ETH will be used to buy back tokens from various exchanges from time to time. The tokens will then be placed in the bonus pool for further rewards.
2. Payment
Fans can crowdfund to pay for a particular artist's performance, or purchase tickets for existing performances through Viberate's DTX ticket system. All performance expenses can be paid with VIB, including venue fees, technical fees, artist appearance fees, etc.
In addition to being used for payment during performances, artists can also use VIB to purchase exposure, obtain contact information of celebrities, etc. It has a variety of uses, covering all expenditure behaviors in the entertainment industry.
Finally, let's summarize. This project is relatively small in size, and the product is paid, which shows that it must have certain product strength. I have used it for a while and at least I think it is okay. At least it is currently the leader in the music field. At least I have not seen other similar projects so far, but the biggest problem is that the token is not well integrated with the ecosystem. That is, I can do this without a blockchain. It seems that they are issuing coins just for the sake of issuing coins. Moreover, 75% of the coins are currently on Binance, and this wave of doubling did not use a lot of funds because it was originally very small in size. Currently, VIB has been launched on more mainstream exchanges such as Binance and Bitget. The volume on Bitget is very small. This wave is mainly caused by Binance's market makers. It is not recommended to participate in the sudden increase in volume because others are open and you cannot beat the dealer. Therefore, this project is different from the previous loom.