SeatLabNFT Launches On NEAR Protocol to Enhance Ticketing
A new grade of innovation is about to hit entertainment, music, and sports ticketing. SeatLabNFT is set to glorify the future of NFT ticketing, beginning with its launch on the NEAR Protocol. The platform seeks to bridge the gap between fans and their fancied artists or football clubs while toning down peddling and touting.
SEATLABNFT Enters The NEAR Ecosystem
Integrating Non-fungible tokens in sports, music, and the entertainment industry is becoming prosaic. Interestingly, musical artists, and athletes, among others, flaunt their NFTs on social media nowadays. But NFTs possess more exciting utility than merely uploading them as profile pictures.
SEATLABNFT has taken up the mantle with the mantra “revolutionizing ticketing using NFTs and blockchain technology.” Nevertheless, invading the secondary market is an existing jumbo challenge encountered by the ticketing ecology. Event tickets primarily sell out within minutes due to scalpers and peddlers.
However, these tickets turn up on secondary markets to sell at substantial prices. However, sports and music fans have made peace with this unfortunate reality. Ryan Kenny, the CEO of SeatLabNFT, wrote a note addressing the situation.
Kenny said that despite devising several strategies to take down scalpers, they seemed to need fixing. For example, web two cannot oversee secondary market operations. Thus, fans bear the burden of costs by paying exorbitant prices to watch their favorite artists perform.
In addition, artists tend to get deprived of the gains made from secondary market sales, given that scalpers hold the cards. These are the issues SeatLabNFT aims to combat. Its consensus protocol allows artists to mint NFT tickets and sell them directly to fans.
Consequently, blocking any open gateway for scalpers to waltz in. Compared to physical tickets that scalpers can easily manipulate, NFT tickets are always authentic. Kenny wrote that the prevalence of Web3 will paint NFT ticketing with uniqueness.
Establishing Cordiality With Fans
SEATLABNFT aims to amplify artists’ and clubs’ experiences with fans, making them immersive, fun, and outstanding. Thus, allowing fans to feel like active partakers rather than ordinary consumers. Consequently, this will enhance fan engagement and increase their loyalty.
To begin, artists will develop, issue, and mint NFTs relevant to a show. Interestingly, SeatLabNFT wishes to stretch its limits by allowing the NFTs exist on the blockchain as audio, videos, and other digital artworks. These NFTs will be tradable via the exact smart contract that controls the secondary market, airdropped on order, or put on display.
Furthermore, through SeatLabNFT intelligent contracts, creators can release NFTs or collectibles related to an event as airdrops or rewards to fans for attending a concert. For example, having confirmed multiple fan presence at a show, an artist could airdrop them an NFT. With this, creators or artists can issue varieties of collectibles matched with several benefits ranging from merch discounts and early access to shows and initiatives, among others.
SeatLabNFT is in the second phase of its roadmap, with several features already operational. SeatLabNFT app is available on the Google play store, Apple store, and other app stores. Additionally, fans can claim membership cards on the app as NFTs to access unlimited immersive experiences.
