On October 6, Vibe, the native token of the Viberate blockchain network, will be officially unlocked for trading and transacting. The Viberate development team has announced that LiveCoin.net will be the first cryptocurrency exchange and trading platform to integrate Vibe trading.

Earlier this month, on September 5, the Viberate development team completed one of the successful initial coin offerings (ICOs) to date by achieving its $12 million target in under five minutes. With the support from prominent venture capital firms including Cosylab, Aguatera, and ABC First Growth, and advisors such as bitcoin pioneer Charlie Shrem, Viberate attracted the interests from both the cryptocurrency sector and the music industry.

Already, on its beta platform, Viberate has added some of the biggest artists and marquee figures in the global music scene, including The Black Keys, Arctic Monkeys, Panic! At The Disco, and Evanescence. More to that, as an automated Ethereum-based a crowdsourced live music ecosystem, Viberate has already connected 130,000 artists with 210,000 events.

Vasja Veber, the co-founder of Viberate, stated:

“Based on the flood of questions about the first listing, we think this is one of the most anticipated coins of this year and we can’t wait to see how the market will respond on the 6th of October. As far as our work goes, we will stick to the plan and keep meeting deadlines, regardless of the price movement. Our development plans can’t be distracted by anything, which shouldn’t be a problem, since most of our own tokens are vested anyway. Soon you can expect the launch of booking agency profiles and even before that we will introduce the first version of our rewarding program for contributors, so if you don’t have any Vibes yet, you will soon have a chance to earn some by helping the platform grow.”

The global blockchain, Ethereum and ICO markets are still in their early stages in development and commercialization. The vast majority of ICOs with the exception of a handful of startups are yet to produce working prototypes of their applications and demonstrate the real-world value of their native tokens.

Viberate has already displayed a highly potent commercial use case of blockchain technology and Ethereum. Within less than a month, Viberate has matched tens of thousands of events with hundreds of thousands of musicians, using the blockchain network as an immutable and decentralized platform to create a unique marketplace of events.

The beginning of Vibe trading and transaction settlement is an important milestone for Viberate, its development team, musicians and event operators. In the upcoming months, Viberate plans to create an incentive system to reward users that contribute content into the platform. Vibes will operate as a reward token and the native currency of the marketplace.

“Being a crowdsourced database, Viberate will reward users who contribute content into the platform and promote it around. Adding new profiles, curating existing ones and promoting Viberate on social media and forums will soon be rewarded with Vibes. From the content perspective, booking agencies can expect their profile roll-out near the end of 2017 and Viberate’s CEO Matej Gregorcic says the profiles will be so good that most of the booking agencies won’t need their own websites anymore,” explained the Viberate team.

Disclosure: This is a sponsored article.