Virtual absoluteness is only accepting bigger. The VR market is tipped to be worth more than $33 billion within the next two years. With the market growing to such heights, altered industries are grappling with assorted ways to make the most of the opportunity, including the ball and live events industries.

More than 60 actor tickets are sold in the US every year but concerts and live events are bound to the people in appearance and tour dates only reach so many cities.

VR startup CEEK may have an answer. It has built a VR belvedere for omnichannel administration of aboriginal and accountant basic absoluteness content, acceptance people to acquaintance concerts in basic reality. According to CEEK, VR will bridge the gap amid fans physically at concerts and the people that are missing out.

It has partnerships with Universal Music, Apple, and T-Mobile, and sells its headsets in Best Buy and Target.

Now the aggregation is axis to blockchain to create a system based on Ethereum smart affairs for accouterment banking allowances for CEEK, artists, partners, and users.

A crypto coin for VR experiences

The startup is developing a cryptocurrency to power this belvedere – the CEEK token. It is aiming to build a blockchain-enabled basic absoluteness ecosystem that creates cellophane new acquirement streams for creators and artists.

CEEK tokens can be used to acquirement VR event tickets and access VIP interactions with artists. The absolute belvedere allows users to affix with immersive concert adventures and has advertisement shows from artists like U2 and Katy Perry.

Users will even have the chance to vote on what performances they would like to see – using their tokens. In one case, CEEK users will be able to vote alongside judges at the 2018 World Of Dance (WOD) finals, which are being advertisement in VR.

CEEK also gives artists access to the Celebrity Coin Mint, a appropriate tool advised by CEEK that is conceivably its most unique feature. It will allow artists to “mint” their own tokens rather than active their own ICO. The coins can be used as event tickets or for purchasing unique collectors’ items that are tracked on the blockchain.

According to the startup, these coins will use up less gas (the Ethereum transaction fee) than archetypal Ethereum tokens and, much like other cryptocurrencies, can potentially go up in value. All of these celebrity-created coins are ECR20 adjustable with their own unique Ethereum abode and will be tracked and recorded on an abiding blockchain called the CEEK Basic Mint Registry.

Artists and ball ally will be able to see analytics acutely on the blockchain, which can’t be tampered with, account which events and commodity are assuming best.

Furthermore, the CEEK tokens can be used by artists as a means for acceding licenses for using their music worldwide, creating addition acquirement stream.

New funds

CEEK makes VR agreeable attainable and easy with help from its partners, agreeable creators, developers, and end users. It has patents in spatialized audio, ecology geometry, material, and physics that help make its VR adventures all the more immersive.

The funds generated from the token sale will be invested in developing and advancing the CEEK belvedere for a wider admirers and user base as well as business development and accomplishment new partnerships. The abiding plan for the belvedere is to see all affairs agitated out and candy on the blockchain.

The tokens will have a soft cap of $10 actor and hard cap of $50 million; 50 percent of tokens will be sold in the crowd sale (private, pre-sale, and public sale), 20 percent will be aloof for the development community, 20 percent will go to the company, early contributors, and advisors, and a final 10% will be in assets for up to three years.

Participants in the crowd sale must acquirement a minimum of $250 worth of tokens. From the sale, 25 percent of funds will be invested in accretion the development team and hiring more blockchain-focused developers.

Then 25 percent will be used for agreeable and licensing. CEEK is operating a small VR abduction studio in California. The aggregation wants to grow this into a fully-fledged abiding studio with high-end VR cameras and accessories for bearing bigger and better VR content. This will also crave the need to create agreeable and access licenses from agreeable creators that want to administer on the platform.  

Another 25 percent of the funds will be put aside for business and business development in order to grow user numbers and the roster of artists that are using CEEK. The actual funds will cover assorted operational, legal, and accident costs.

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