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Online platforms are the key to success for the next generation of business models. Disruptive ideas and companies embracing digital transformation have already impacted many industries. Airbnb, UBER, and TripAdvisor have changed the way people find accommodation or travel by car, shaping a virtual ecosystem of new opportunities.
The journey of the avid culture seeker is obstructed by ticketing companies charging up to 30% extra just for issuing tickets. Event organizers and content creators are compelled to abide by the rules in the absence of a better system, and many cultural institutions have funding problems they can’t fix because of a flawed and inflexible process.
A social network for the cultural world powered by Blockchain
Cultural Places aims to break the status quo using Blockchain technology. By developing a social network where artists meet institutions, visitors and content creators, cultural tourism will benefits from the services provided by Cultural Places.
The aim of the new platform is to open up a cultural gate where a user’s journey combines convenient ticketing, location-based information, mapping & routing, crowdfunding, and trip planning. Through the adoption of Blockchain technology, Cultural Places is able to offer efficient ticketing without turning to agency intermediaries. The end result is conveniently-priced tickets and better margins.
The new approach also takes cultural crowdfunding to the next level. By connecting private donors, artists, patrons, and institutions, the project is looking to address customers on an individual level with diverse, customized offerings.
Reward programs for all parties involved in the Cultural Places ecosystem
Cultural Place’s own cryptocurrency, the Cultural Coin, forms the backbone of the platform. Users can use it to buy physical and digital goods, donate, or make payments for services and admission tickets (e.g. tours or audio guides).
What sets Cultural Places apart is the distinctive reward programs available for all users. 1% of tokens used on the platform to perform an activity (e.g. buying tickets) is transferred back into the user’s wallet through the loyalty program. By collecting Cultural Coins, cultural aficionados can engage in other activities such as donating to cultural projects or buying location-based content. The Opportunity program rewards all token holders for their commitment with 1% in Cultural Coins of the total spendings made on Cultural Places. There’s even a 1% share of the total spendings for participating institutions, which will help growing the number and diversity of cultural institutions on the platform.
Cultural Places has an existing business model. Thirty institutions already use the platform, with more than fifty projects have been completed thus far. Existing clients are spread across Europe and Asia and include galleries, temples, museums, and zoos, among others.
The first phase of the Cultural Places ICO is live and it will last until March 11. The Cultural Coin token is priced at 0.018 EUR and is accompanied by a 40% bonus. The price for Cultural Coin token will increase to 0.030 EUR in the final stage of the public sale, on April 5.