Blockchain based marketplace for high-quality VR content from the music and entertainment sector
Smart contract blockchain
Audiences attending concerts and festivals are reaching record highs and are expected to generate in 2017 sales above 1,1 bn USD in Germany alone. As venue capacity is limited, concerts of particularly popular artists are sold out in hours if not in minutes. Additionally, access to live concerts is limited by several further factors. Concerts are dominantly performed in selective large cities and economically sound countries leaving fans in rural areas or non popular countries behind. The music industry could generate a substantial amount of higher revenues, if a larger audience could be reached.
ConcertVR seems to be really unusual and interesting project. It's something similar to YouTube, but in VR format and concentrated on content from various public events - music concerts, sports and so on. Judging by how the industry develops, this project can become very successful quite soon. Attendance of events is reduced because the content has become available online in very convenient formats. Moreover, they noticed that regular tickets have increased tremendously in price over the last years, with the average ticket price today being three times more expensive than 20 years ago, making the attendance unaffordable for a large audience group. However, the availability of content in the new format will only contribute to this trend. The project asks very brave questions that could revolutionize the entertainment industry. What if one could enjoy and afford concerts from all around the globe in REALTIME without even leaving the home? Or what if the artist could sell an unlimited amount of tickets? They want to allow users to experience the concert through the Virtual Reality technology. The application of blockchain in the project is very diverse - from the means of payment to the observance of copyright. It's worth noting that they have an already existing demo. The team members have more than 20 years of experience both in the entertainment industry and television, but also development and financial market.
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