Meet Seatlab – an NFT-powered event ticket system that allows both artists and event organizers to regain control of the secondary market. Simply put, this new platform solves the problems of the global ticket market.
By using blockchain technology and smart contracts, Seatlab allows anyone selling tickets to mint them as NFTs. As a result, there is unprecedented control over tickets, future resales, as well as future transfers.
What makes Seatlab different from its competitors?
Unlike many of its competitors, Seatlab is built on the NEAR Protocol: a carbon-neutral blockchain. It also allows faster transactions per second compared to Ethereum-based projects. What’s more – gas fees are lower, and Seatlab covers all minimal gas fees.
Users can attach their own conditions and royalty splits to tickets. This distinguishes the platform from traditional ticketing platforms, as the royalty splits directly go to artists in a transparent way. Additionally, Seatlab enables the monetisation of secondary sales.
According to Seatlab CEO Ryan Kenny: “We have years of experience in the events industry running a successful ticketing platform called Seatedly, so we’re well aware of the issues the sector is facing.”
“Now is the time to further evolve the ticketing industry and use our development and ticketing software expertise to take advantage of blockchain technology and solve some of the most significant issues we see in ticketing today.”
Seatlab also incentivises fans by handing out exclusive rewards and perks. These include unique collectibles, merchandise, audio recordings of the live event, etc.
Last October, the NFT dedicated marketplace YellowHeart launched YellowHeart Wallet; a ticketing app that replaces physical tickets. It is, therefore, safe to say that NFTs are quickly revolutionising the traditional event ticket industry.
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This article is educational material.
As always, make your own research prior to making any kind of investment.