Blockchain and VR Implementation to Sustain and Expanding Showbiz Industry

The sponsorship deal between 10,000m long-track speed skating at the PyeongChang Olympics, Canadian Ted-Jan Bloemen and CEEK VR further emphasizes the platforms arrival into the mainstream of human social interaction.

CEEK is a platform that is designed to eliminate the limitations that currently exist in the showbiz industry, where artists are not able to maximize the potential of their products. This happens because of the fact that space and geographical restriction are taking their toll on the industry’s expansion.

Meeting an outrageous demand

Each year 60 million concert tickets are sold in the USA alone. The demand for iconic music artists to perform at live events far outweigh their capacity leaving them with missed revenue opportunities and fans without the chance to experience live shows. Therefore, the adoption of VR technology which enables fans and followers enjoy the same ambience and feel of being present in event arenas is helping solve the issue of satisfaction and revenue generation as well.

The CEEK Celebrity Coin Cast Minting empowers artists, labels and brands to access new, untapped and unlimited revenue streams by creating virtual event tickets and merchandise.  CEEK Tokens will be easy to use, multi-purpose, ERC20 tokens where CEEKERS earn and trade virtual goods and enjoy premium immersive experiences in one of the most popular virtual reality worlds. Therefore, the idea of shows being sold out will become a thing of the past, since events and shows are taken beyond the arena into the global space.

A decentralized marketplace

CEEK tokens will function in an ecosystem of fixed reserve, with a static exchange rate and maximum total supply of minted tokens will be defined. Users can always liquidate their held Custom Tokens back to the static number of CEEK held in reserve at the fixed exchange rate.

These tokens, using the ERC20 Adapter will be Bancor Smart Tokens, allowing them to connect to the Bancor network. A Bancor Token Converter can be launched for each smart token with a CEEK reserve using a configurable “weight”. Once the tokens are minted, the total number of custom tokens may fluctuate and the price will dynamically adjust based on market sentiment and demand.

The marketplace offers unique benefits for every group of stakeholders. For instance, CEEKERS will enjoy exciting premium VR content and new earning and spending possibilities. Developers will be provided with increased earning possibilities by creating exciting goods and services for a preexisting loyal fanbase while artists, labels and brands will avoid the red tape of launching an ICO, create a coin or virtual item in less than an hour and enjoy unlimited earnings.

A satisfied fanbase

By leveraging on the properties of blockchain, the CEEK project is decentralizing the showbiz industry, creating opportunities for all participants and also empowering each group to control their own resources independently. Beyond the revenue opportunities that is provided for both artists, labels and fans, the intrinsic satisfaction through participation is unquantifiable.

Most often, it is this high level of satisfaction that connects fans and their favourite artists in a cult-like relationship. For making this happen, it is clear that by blockchain and VR implementation, CEEK is introducing a movement that would go a long way in sustaining the showbiz industry for several years to come.

The post Blockchain and VR Implementation to Sustain and Expanding Showbiz Industry appeared first on Bitcoin Garden.

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