This crypto project is looking to bring a new age to clubbing and the whole electronic-music industry with the help of blockchain technology.
The festival and clubbing scene is a vibrant and constantly evolving industry, with new trends and experiences popping up every year. From electronic dance music festivals to underground clubs, there’s something for everyone in the party scene. It’s an industry that brings people together, and it’s also a significant contributor to the economy.
As the scene continues to grow and adapt, new technologies and innovations are being introduced to enhance the overall experience. One such innovation is the integration of cryptocurrency into the nightlife scene, specifically KlubCoin, which promises to bring a new level of excitement and innovation to the clubbing and festival industry.
Q: Is there a problem with the way clubs and festivals operate right now?
We would not say a problem, but while almost all industries have some type of loyalty program or customer retention mechanism (call it “miles” for airlines or NFTs for Starbucks), it is very rare to find something similar for clubs and festivals. Does it mean that regular clubbers and party animals don’t deserve this? Absolutely not, but it means that one club or one festival on its own does not have the necessary scale to make this appealing. KlubCoin is solving this globally by offering its unique Party-To-Earn model to clubs and festivals, and all clubbers around the world.
Q: Clubbing started as a communal, underground activity but has evolved into a big business. Is the KlubCoin project an attempt to return some of the original appeal of clubbing?
Clubbing has started to be a big business. One of the drawbacks of this business growing fast is the tendency to concentrate the majority of revenue on a shortlist of superclubs, massive festivals and major artists. This takes the form of the major festival brands growing bigger and bigger, booking all the big names and losing interest in the emerging artists, while new brands struggle to develop and reach a sufficient size to be able to book headliners.
As a result, DJ fees of the top-200 artists in the circuit are skyrocketing, while new talents have a hard time developing their careers, finding their space in the industry and making a living out of their passion. KlubCoin is building one big community of passionate clubbers and a curated selection of clubs, festivals and electronic music brands of all sizes preserving space for both emerging talents and superstar artists and keeping a good balance between major festivals, superclubs and smaller venues. A community about going out, dancing, listening to your favorite DJs, meeting new people, discovering new talents and partying sharing the same passion for electronic music.
Q: What benefits do clubs and festivals have in joining the KlubCoin ecosystem?
Nowadays, every traditional business is approached by Web3 projects on a daily basis, and it’s very hard for Web2 and brick-and-mortar businesses to choose the right Web3 partner. By joining the KlubCoin ecosystem, clubs and festivals have the certainty of working with people who have more than 25 years of experience in the electronic music industry — a team that understands their business and their culture.
More than that, KlubCoin is one of the few Web3 developments already adopted by major brands of the electronic music industry such as Amnesia Ibiza, Bootshaus, Clubbing TV or DJ Mag to name a few, and probably the only project offering a customer loyalty program for clubs and festivals at a global level. That means clubs and festivals are joining KlubCoin to find an established ecosystem with an already deployed strategy and active users, and not just a concept or a minimum viable product like many Web3 projects out there.
Q: What about DJs? What’s in it for them to join the KlubCoin ecosystem?
One interesting feature of KlubCoin is its tipping system. From the app, in real-time, you can send and receive tips. Clubbing TV, one of the KlubCoin ecosystem partners is using this feature in a creative way for DJs to receive tips in KlubCoins.
Just with your phone, and by scanning QR codes showing up on your screen when a DJ is playing on Clubbing TV, you’ll be able to tip your favorite artists. Each QR code is unique and belongs to the artist only. The tips go straight to the artist in real time. Artists will also be able to use their personal tipping QR code wherever they want (press releases, live streamings, visuals, social media, etc.) to gather more support from their fans and community.
All DJs doing livestreaming on Twitch, Facebook, YouTube, Clubbing Live or other streaming platforms can use the same QR codes to receive tips. This will help new talents to develop and monetize in a new way.
Q: What are the biggest challenges that lie ahead for your guys?
The biggest challenge is, for sure, onboarding electronic music fans who are not that familiar with the concept of crypto, Web3 and blockchain technology into the KlubCoin ecosystem. The blockchain has brought us a lot of amazing new possibilities, but the problem has been, from the beginning, how to introduce the non-tech savvy audiences to crypto wallets, tokens and exchanges. We had to solve this in an efficient way.
With our dedicated mobile apps, already available for iOS and Android, we are dramatically simplifying the whole procedure for KlubCoin users and making it as simple as possible for them to become part of the KlubCoin family. The app allows wallet creation and token management including earning, buying, spending, tipping, staking and more to come — all at your fingertips.
Q: Where do you see your project in five years?
We see Klubcoin as a project that is widely accepted in the entire electronic music industry, with 1,000 of the biggest partners in its network and over 1,000,000 electronic music fans who have adopted KlubCoin, installed the mobile application, and are regularly using KlubCoin as a method of payment and a way to get rewards while partying both in real life and in the Metaverse. Speaking of the Metaverse, we’ll be making a special announcement soon, so stay tuned!
It is clear that KlubCoin has the potential to revolutionize the festival and clubbing scene by providing exclusive perks and privileges for both customers and establishments. The KlubCoin team’s vision is to create a thriving music ecosystem while relying on blockchain technology to achieve this.
As the industry continues to evolve, it will be interesting to see how KlubCoin and other similar projects will shape the future of the nightlife scene. To learn more about KlubCoin, visit its official website. For more news about the intersection between music and the crypto industry, browse through the Cointelegraph feed.
Learn more about KlubCoin
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.