The demand for international artists to perform live in cities around the world is far beyond the supply for available venues. This leads to significant missed revenue for celebrities, not to mention that fans miss out on a chance to experience their favorite concerts, events, and shows in person. To cope with this growing demand, the music industry has adopted some solutions such as providing live streaming and recording material to avid fans.
However, these solutions are limited and don’t live up to the expectations of fans. Virtual Reality (VR) developer, Ceek jumps on the Blockchain bandwagon with a new project that aims to change the way VR content is consumed by the masses.
Virtual Reality Meets Blockchain to Create an Entertainment Metaverse
Ceek, hardware and software developer of VR experiences and patented headsets has launched a Blockchain project that streamlines access to a tokenized VR-based exchange platform. The main objective is to build a decentralized entertainment metaverse where celebrities can sell virtual concert tickets, personal objects, and additional merchandise their fans can purchase using the platform’s Ceek tokens.
The mission is to launch a next-generation VR platform, where token holders (Ceekers) can pay with cryptocurrencies to attend live concerts in VR using the Ceek VR headset and app. Apart from empowering artists to expand their revenue streams, the project aims to build a fan community with its token; a place where people can buy virtual tickets to their favorite show, event or live concert.
A Virtual Safe Haven for Artists, Fans, and Developers
Ceek provides various immersive VR experiences inside its “Ceek City” — the decentralized virtual space that comprises of a concert area, theatre, hangout lounge, sports complex, and more. By leveraging Ceek tokens, Ceekers can perform a wealth of activities in the “city”, such as vote for content, purchase artist merchandise and concert tickets, sell custom items on the dedicated exchange, and even contribute to its development.
Celebrities have the “Celebrity Coin Mint” tool at their disposal which they can use to create their own, unique virtual objects or celebrity minted coins. By issuing VIP virtual tickets to exclusive events, they can increase demand and accelerate supply; dictate ticket prices and bring inherent value to the Ceek VR platform.
“Ceek City” also targets developers who can earn Ceek tokens using the platform’s SDKs, open APIs, and VR authoring tools to develop virtual environments, digital goods, or venues, and make them available in the Ceek marketplace.
A Decentralized Demand Engine Disrupting the Global Music Industry
Ceek’s overall value is dictated by native features such as Celebrity Coin Cast and Global Rights Clearance. Through the creation of customized coins by celebrities and artists, there is expected to be a boost in demand for attending concerts in VR, buying exclusive event tickets and virtual objects which will increase artists revenues as well as the popularity of Ceek.
The project aims to use Blockchain technology to provide transparent, scalable and secure transactions; cater to the people’s need for fully immersive experiences that are as close to real-life live events as they can get. Ceek has an established business model through their proprietary Ceek VR headset available for purchase in stores like Target, Best Buy, and Amazon. The company has also partnered with renowned names in the music industry like Universal Music, Apple, and T-Mobile to fulfill its mission of building a decentralized, easy-to-use VR entertainment metaverse.
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