Live event ticketing is one of the industries which stands to experience the biggest change with the decentralization of the internet brought about by Web3.
Since the introduction of digital technology to the ticketing industry, little progress has been made. Current solutions offer little in the way of additional utility, charging outrageous fees and profiting from scalpers and touts activities on the secondary marketplaces the ticketing companies own. With fans missing out on tickets to popular events becoming a regular occurrence and sold-out tickets reappearing immediately on the secondary market, the industry is ripe for a change.
SeatlabNFT is an innovative new Web3 event ticketing platform, using NFTs as tickets, the company aims to create a more immersive experience for attendees while offering the opportunity for artists and event creators to take back control of the secondary marketplace.
Their IDO takes place on the Skyward launchpad from the 24th-30th of May. This is the first opportunity that the community has to invest in their native token $SEAT, which is designed to give holders access to a number of different perks and benefits on their platform.
A new and fairer way of ticketing
SeatlabNFT is free for artists and event creators to mint tickets on. Hosted on the climate-neutral NEAR Protocol blockchain, the platform will enable a more immersive experience for attendees, with the opportunity for ticket holders to receive airdropped incentives directly from artists and event creators.
Smart contracts will govern the NFT tickets which enable pre-defined royalty splits. This means that revenue from any secondary sale will automatically be directed as defined in the smart contract, reducing the opportunity for profit by scalpers. In turn, this allows for fairer box office access for fans, further improving their experience.
Upcoming IDO Launch & Looking Forward
SeatlabNFT is preparing for an upcoming IDO launch on Skyward for its platform-native $SEAT token starting 24th May 2022. Before hitting the major exchanges, the IDO launch will be the sole opportunity for retail investors to invest in the $SEAT token. Pre-register on their website to participate.
Their NFT ticketing platform is designed around a tiered utility for holders of $SEAT, as a way to reward loyal fans and event attendees with perks and benefits only available on SeatlabNFT.
Holders benefit from access to an exclusive Rewards Centre, along with the opportunity to stake their tokens in exchange for more $SEAT. SeatlabNFT charges a default 5% buyers fee, added to the price of every ticket, however, this is reduced for holders of $SEAT, in line with the number of tokens they hold.
Beyond the anticipated IDO, SeatlabNFT is also preparing for a busy year with early testing scheduled for Q3 2022, alongside launch parties and a full-scale test in Q4 2022.
Disclaimer: This is a paid post and should not be treated as news/advice.