Berlin-based technology start-up concertVR is looking to revolutionise the music and concert industry and is basing their platform solution on blockchain technology. Users of the service will be able to experience live concerts through immersive 360 degree virtual reality, standing in the middle of the crowd, at the front of the stage or even up on stage with the band!
According to concertVR, “ConcertVR took up the challenge and is proud to present an exciting blockchain based solution for a so far unsatisfying concert environment. Virtual Reality devices will enable this. Viewers from all over the globe just have to download the concertVR app, purchase a code via standard payment systems or cryptocurrencies and will enjoy their favorite concert, wearing VR glasses. Alternatively, you can also watch the concert via other devices like your PC, laptop, smartphone or tablet. It is the goal of concertVR to establish long-term contracts with concert organizers and artists which shall guarantee a never ending stream of live shows, covering all tastes from alternative and classic to pop and rock, including well established mega stars as well as exciting newcomers.”
The platform is blockchain based ensuring no user data will be stored on concertVR servers or sold to third party companies. All data will be stored on a de-centralized cloud based data bank which will be held on the net by nodes. The unchangeable trade repository is strictly additive and cannot be changed backwards or deleted and therefore will be safe against frauds and hacking. Smart contracts will need no intermediate, which, ConcertVR says, will save time and money and guarantee the highest security standards, while decreasing transaction costs.
“Blockchain technology is a win-win situation not only for the music industry but also for the fans. The idea of decentralization has the potential to revolutionize the entire music industry. The benefits begin with simple things, such as organizing bills and bonuses through smart contracts. This can save enormous costs, which ultimately benefits the artist,” said Sebastian Deyle, Founder/CEO, concertVR.
ConcertVR is also looking to create its own currency – CVT, which will be initially fixed to Ethereum and can be used as a payment for the live or on-demand concerts and songs purchased. Bitcoin, Bitcoin Cash as well as Ether will be also accepted alongside more traditional forms of financial payment.
“With concertVR we combine 2 industries, both of which have enormous potential – VR and live concerts. Therefore, we are convinced that our token can increase tremendously in value as we will ensure with a successful company that a real value is behind our token. Aside from that, our token can also be used as a means of payment in the concertVR app. Incidentally, besides all known payment methods (credit card, PayPal, etc), we will also accept a variety of other cryptocurrencies”, commented Deyle.
Backers of the company expect concertVR to be the first European market place fully dedicated to the transmission of real-time and on-demand concerts for home entertainment. Pricing models will be subscription based as well as based on single purchases of real-time and on demand concerts and songs. Purchases can be made either directly on the concertVR app, the concertVR website or via ticket providers as well as at the merchandising concert booth.
The company is planning a pre-ICO and an ICO in the first quarter of 2018.
“Our pre ICO will start on February 15, 2018 and last 7 days. (hard cap 1.200 ETH) and our ICO will begin on March 1, 2018 and last 31 days. (hard cap 60,000 ETH). Anyone who lives in a country where the acquisition of tokens is not prohibited by law can take part in our pre ICO and our ICO. For reasons of transparency and security, we decided to sell through our website www.concertVR.io,” added Deyle.