Ceek is one of the startups looking for a business model in broadcasting music concerts in virtual-reality. Now it’s adding a splash of blockchain technology into its mix, and yes, inevitably this involves a token sale.
“Ceek tokens can be used to purchase VR event tickets and access VIP interactions with artists,” explained tech site TheNextWeb. “Users will even have the chance to vote on what performances they would like to see – using their tokens.”
What’s more, Ceek is planning to launch something called the Celebrity Coin Mint, which will enable individual artists to create their own tokens, rather than go through the entire process of launching their own initial coin offering (ICO).
All of this will be tied in to smart contracts based on the Ethereum platform, to divide up the spoils among artists, Ceek and other involved parties. Ceek is planning to sell tokens for up to $50m, with 25% of any money raised to be spent on hiring developers, and another 25% used for ‘content and licensing’.
Sceptics may see this as one extremely-unproven business model (VR concerts) turning to an even more-speculative business model (token sales), but we’ll be keen to see how much backing Ceek can get from its crowdsale.