CEEK is a company that primarily focuses on building AR/VR headsets that recently raised $17M (22K ETH) in a 2018 ICO to explore a tokenized component for musicians to create virtual worlds around their music.
With over 50,000 headsets sold on Amazon, Target, and Best Buy, CEEK aims to connect all of its users to an “Entertainment Metaverse” where users can access a wide variety of experiences and intimate music performances.
This metaverse serves as a gateway to all kinds of cool VR experiences, with an emphasis on experiences as they aim to be more than just purely viewing.
Artists will be able to essentially tokenize exclusive experiences and mint coins that can be exchanged with fans for different components of a VR experience. This could be anything from an exclusive virtual reality world dedicated and designed to the streaming of a single album or song, or front row seats to a “live” performance.
Additionally, CEEK plans to build VR/AR studios across the country to help entertainers and partners create branded content for their audience. Countless entertainment and media industries have been exploring ways to get into VR, and this would essentially be yet another bridge to help make that happen.
One of the more interesting components of the project include plans to build VR/AR studios all over the country to help CEEK partners and entertainers create branded content for various audiences and CEEK users.
Mary Spoi, CEEK’s CEO, has experience as the former Head of Satellite Communications at Boeing Digital Cinema, and previously founded a mobile/online video platform that served clients such as Coca-Cola, Clear Chanel, and Microsoft XBOX. She also sits on the advisory boards for Oculus VR for Good (Facebook) and Amazon Launchpad.
CEEK is also fully integrated with Bancor, which will help the mainstream use of the CEEK coins.
CEEK plans to integrate with Ethereum Co-Founder Anthony Di Iorio’s Jaxx.
The company is also partnered with artists such as U2, Katy Perry, and Lady Gaga to help craft immersive virtual show experiences.
The CEEK platform plans to use a blockchain-based middleware that allows for smart contracts on CEEK to connect with external assets via outside data feeds. CEEK users would essentially be able to buy things such as “on-chain” memberships using smart contracts through an efficient payment framework that links virtual world payments with real world payments.
Why CEEK is Worth Watching
How much would you be willing to pay for courtside seats during the NBA Finals?
Asking prices for the 2018 NBA Finals ranged from $15,896 to a hefty $76,956.
Even if you aren’t into basketball or can’t stand to watch another Cleveland Cavaliers vs. Golden State repeat (no more sports references, I promise), you should be able to appreciate the opportunity here.
A platform like CEEK would be able to deliver a high-fidelity virtual alternative to being physically present at a fraction of the cost and at scale. The same “seat” could be sold to hundreds of thousands of people, all of whom will experience a relatively similar high-quality experience.
Let’s assume the above experience costs a reasonable $20 and 25,000 people decide to purchase it, CEEK would bring in $500,000 in revenue, whereas the traditional method would only bring in around $77,000 on the high end.
Again, this is currently just hypothetical, but we’re not far from a future where high fidelity VR/AR experiences become standard for entertainment. In order for CEEK to get to this point they’d have to refine the product, delivery, and partnerships better, but if there’s anything that stimulates interest in the entertainment business world, it’s money.
CEEK presents an interesting and viable application of blockchain in an appealing way for mainstream audiences. This is a refreshing change from the traditional “we don’t have a product but we do have a whitepaper!” approach of many companies in the space.
With an active base of customers, and a more back-end utility function for blockchain and its tokens, CEEK could potentially onboard thousands of users to use blockchain without even knowing it.
As far as fulfilling their goals, CEEK still has a long way to go. Being fresh off a successful $17M ICO is a good start, but it’s just a start. If you’re interested with what CEEK is doing, check out their site, crypto-focused site, and whitepaper.
Read original article at coincentral.com.
Author: Alex Moskov