The concept of virtual reality is still in its infancy, and hasn’t become a key part of our everyday lives just yet. But who knew that the booming blockchain tech could actually help the virtual reality technology grow. CEEK is a rather futuristic blockchain project, which is interestingly enough, aiming to revolutionize the way people consume media by letting them virtually experience pop culture.
It all started back in 2016, with the development of the CEEK VR headset. And the rest is history, since then over 50,000 of headsets have been sold on Amazon, Target and BestBuy, with the sole purpose of connecting all of CEEK’s users to an “Entertainment Metaverse” where they have access to a wide variety of experiences and intimate music performances.
Now they are dueling in the blockchain world starting with a recent ICO that raised an impressive 22K ETH, in order to explore a tokenized component for musicians to create virtual worlds that brings their music to life.
Working of CEEK VR
Built on top of the Ethereum blockchain, CEEK VR uses ETH’s smart contracts in order to achieve its decentralized content distribution platform.
CEEK uses a consensus mechanism, which is based on the Proof-of-Stake algorithm, called Tendermint. The consensus is ultimately achieved through voting by designated nodes, however only the nodes with a stake in the network are eligible to participate in the voting. The confirmation of a transaction requires more than 2/3rd of the total number of voting nodes, which are able to reach a consensus regarding that transaction, upon which it is eligible to be added to the blockchain.
The CEEK Token
Released on June 1, 2018, the CEEK token is an ERC20 standard token. It was basically developed for the purpose of improving the user experience that CEEK has to offer, all the while providing improved functionality. CEEKERS, the CEEK token holders, will have the opportunity to access the super immersive VR experiences. Furthermore, they will also gain access to the CEEK-enabled, tokenized rewards exchange.
Benefits Offered by CEEK
A decentralized buying & selling platform
Since CEEK VR facilitates its decentralized content delivery mechanism through blockchain tech, creators can publish their content; videos, graphic art, autographs etc, on the blockchain. This published content can be purchased by other members of the CEEK network through the CEEK token.
Improved global distribution of content
Owing to the nature of blockchain tech, the purchases will be indisputable, permanent, and secure, as they will be recorded in the CEEK VR blockchain once they occur. This provides content creators with a new and improved way to distribute their work globally, that is secure, trustless, unbiased and without any hassles.
Celebrity coin minting
CEEK VR provides celebrity coin minting, which means they can mint their very own custom tokens through the platform. The ‘minting’ however is not only limited to tokens, in fact it could be anything, ranging from virtual tickets, venue coins to personal brand tokens and virtual merchandise. And of course these are available for purchasing through the CEEK token, with the added benefit of being completely secured and tamper-proof, owing to Ethereum’s smart contract functionality.
CEEK VR, being decentralized, peer-to-peer and globally efficient, serves as a fast, secure and censorship-free content delivery platform for artists and their media. And for consumers, it provides a platform of choices for entertainment, with the 360-degree virtualization twist.
What is Available on CEEK?
Already, the platform has a diverse mix of concerts and performers available, with more being added all the time. Notable partnerships have been created with famous names of the industry like, Lady Gaga, Elton John, U2, Katy Perry and Megadeth. Most recently CEEK has struck a partnership deal with World of Dance. In addition to concerts, the platform will also be involved in charity fundraisers, sporting events, VR commerce, and educational materials, in the future.
CEEK’s Road Map & Partnerships
CEEK has quite the impressive track record with some strong partnerships formed along the way. Some of CEEK’s partners are,
- Universal Music
You can read the whitepaper here.