Maximizing the Potentials of Showbiz Through Tokenization - Bitsonline

Maximizing the Potentials of Showbiz Through Tokenization

The connection between artists and their fans is one of the most fundamental aspects that ensure the sustenance of the showbiz industry. For fans and followers to be able to attend or participate in the events of their favourite artists, such as concerts and shows is often the reason for them to always return and remain loyal in their followership.

This is a press release provided by CEEK

An uncontrollable expansion

Riding upon the developments in digital technology, the entertainment industry has experienced such an enormous growth that the limited physical arenas can no longer contain the crowds at most events. This is obvious with the frequent sold out status of most concerts while so many fans and followers are left out. Also, geographical restrictions that may not permit long distance fans and followers is a limitation that needs to be taken care of.

Regular broadcasts and live streaming of concerts and other showbiz events may go a long way in connecting viewers to their favourite artists. However, nothing can replace the actual feel and ambience of being present at an event proper.

On the side of the artists themselves and their labels, the untapped revenue that is usually led to slide due to the limitations that restrict their fans and followers from attending events is huge and cannot continue to be let go just like that.

Satisfying the stakeholders

In a double-header, CEEK is providing a robust solution that will enable both fans and artists to achieve the satisfaction of full participation and reward earning respectively. By implementing blockchain and VR technology, fans from across the globe are offered the opportunity to experience the actual feel and ambience of being present in the venue of any event that they attend online. This process goes a long way to cement the connection and relationship between artists and their fans, guaranteeing the sustainability of the entertainment industry.

On the other hand, on the CEEK platform, Celebrity Coin Cast Minting empowers artists, labels and brands to access new, untapped and unlimited revenue streams by creating virtual event tickets and merchandise.

A tokenized marketplace

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. These tokens will be using the ERC20 Adapter and 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.

This new revenue streams created by CEEK is offered by a decentralized VR Entertainment Metaverse powered by the Ethereum blockchain that is easy to use, gives priority programming control to “CEEKERS”, and provides both artist and fans with access to new sources of transparent revenue streams.

Premium benefits

CEEK will remove the hurdles of creating premium content and virtual goods featuring licensed music and celebrity assets by offering clearing house services through Smart Contracts that automatically pay respective rights holders and publishers.

With CEEK, everyone benefits, CEEKERS, developers, artists, labels and brands all have their tasks simplified. This includes, accessing premium content, reaping from an existing marketplace and enjoying the benefits of a simplified coin minting process whereby revenue from an unlimited number of tickets can be achieved.

Image via CEEK

This is a sponsored press release, provided by CEEK. Bitsonline is not responsible for the products and or services of this company and its clients. This article contains links to third-party websites. Bitsonline is not responsible for the content on those websites.

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