The global entertainment market is estimated at $2.3 trillion. According to a Billboard report, in 2016 the music industry alone was worth $25 billion. The demand for international music artists to perform live is constantly increasing, although most of them are unable to honor the hundreds of venue requests they get every year. Record companies and celebrities are missing out on important revenue streams, and fans are left without a chance to immerse in the unique experience of a live concert.
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To take things to the next level, virtual reality developer Ceek enters the scene with a new vision. The projects wants to connect artists with fans by building a virtual reality (VR) based entertainment metaverse powered by Blockchain technology.
An entertainment metaverse with Blockchain at the core
With an already functioning product in place – a VR headset and corresponding mobile app – the company aims to create VR tokens by combining two industries: Blockchain and VR. The solutions provided by Ceek aim to boost artist revenue streams by empowering them to sell virtual tickets to their live events, buy VR goods, merchandise, and more. For fans, the platform is an opportunity to attend their favorite concerts, interact with artists, and participate in contests. All these activities can be enjoyed by purchasing Ceek tokens.
Through the launch of a next generation VR platform powered by Blockchain, the end goal is to develop a decentralized ecosystem; a fan based community that is transparent, secure, and efficient.
Tokenizing artists in VR
Ceek is an experienced VR company with a functioning product (VR headset and proprietary VR software) which is available for purchase at Target, Amazon, and Best Buy. Designed for mainstream consumers, it provides immersive VR experiences through its “Ceek City”, such as top concerts from renowned celebrities like U2, Katy Perry, Lady Gaga, and many others.
Weaving Blockchain technology into their existing business model, Ceek leverages the Ceek token to streamline different activities that users might want to perform in Ceek City. People can buy exclusive tickets to their favorite concerts and events; they can vote for content, buy virtual merchandise, sell custom items, and even contribute to the platform’s development through the Ceek SDKs and open APIs.
One of Ceek’s unique features is the Celebrity Coin Cast “minting” of coins. Artists can use the tool to create their own coins and leverage them to VIP concert tickets, custom items, and more. Fans will want to be the first to get exclusive access, accelerating revenue streams for artists and boosting the inherent value of Ceek.
Ceek City is also a VR space for developers who want to contribute to the platform’s development and earn Ceek tokens in exchange for their effort. They can use the platform’s VR authoring tools, open APIs, and SDKs to build custom virtual environments, venues, and digital goods.
Decentralized VR platform disrupts the global entertainment industry
Powered by native, in-house features like Celebrity Coin Cast and a functioning product, Ceek jumps on the Blockchain bandwagon to make sure all transactions are transparently and securely recorded. The project will also have open standards to bring digital items across various VR environments.
All participants to Ceek play a fundamental role into the platform’s ecosystem.
- Ceekers have the utility token available to perform transactions
- Celebrities can make their own coins to increase their revenue
- Partners can distribute their VR experiences via Ceek
- Developers who can build new VR environments
- Curators who can find content and submit it for approval, generate artist demand lists, and organize educational courses
By addressing the demand for live entertainment, the project’s mission is to use Blockchain technology to drive efficiency, simplify real world problems and ensure transparency through decentralization. To kickstart the project and fulfill the mission, Ceek VR partnered with several companies with worldwide recognition in the entertainment industry like Apple, Universal Music, and T-Mobile.
The Ceek VR Token Sale begins on April 15th 2018 and will be live until May 3rd.