On May 24, 2022, people around the world will get the first chance to invest in the innovative SeatlabNFT ticketing platform’s native token $SEAT. SeatlabNFT has confirmed the date for their IDO, with extensive details now available on their website. Starting May 24, people can start investing in the token as explained.
By description, SeatlabNFT is a revolutionary event ticketing platform that is powered by the climate-neutral NEAR Protocol blockchain. It is well-designed to create an immersive and more connected experience for everyone involved in live events.
Minting tickets as nonfungible tokens (NFTs) and leveraging the transparent and irrefutable ledger provided by the blockchain is expected to get rid of fraud and speedily mitigate the impact of ticket scalping in a process of reselling tickets for various popular events at a price that is considerably higher than the box office listing.
The current solutions for event ticketing do not serve the fans, artists, and even the event creators. In that context, the ticketing sector has been affected by touts and dehumanized by bots in the pursuit of profits at the expense of the fans and everyone else who is involved in making the live events possible.
SeatlabNFT enables the artists to airdrop distinct rewards directly to the fans in the form of NFT collectibles, community access passes, VIP tickets, and also IRL experiences to boost artist-fan connections.
This platform is also helping the artists to develop close bonds with their fans and develop some genuine value from their different interactions. They are also offering the tools to combat the scalpers who use royalty splits and price ceilings to rein in the out-of-control secondary market.
The SeatlabNFT Solution
These tickets are free to mint due to the unique ability of the applications on the NEAR Protocol blockchain to cover all the gas fees incurred by their users. To make their profits, SeatlabNFT charges a 5% buyers fee that can be reduced by holding their $SEAT token.
50% of all the collected buyers’ fees are paid out as staking rewards. The other half goes straight to the platform treasury. The SeatlabNFT platform is created around a tiered utility for the $SEAT token holders.
Token holders, in most cases, benefit from several perks on the platform, including a reduced buyers fee when acquiring NFT tickets and other assets. They also enjoy exclusive access to the Rewards Centre and they can stake their tokens in exchange for a cut of the collected platform fees.
Smart contracts govern royalty splits; a set percentage of any revenue that is generated from secondary sales is immediately sent to a single or several royalty beneficiaries that are specified by the event creator. It means that artists and event creators will get rewarded for their work, with revenue going directly to them instead of into the hand of the touts and scalpers.
$SEAT IDO
The $SEAT token IDO will be the only chance that the community will have to invest in the SeatlabNFT platform before this token gets listed on major crypto exchanges. As is the case with many Web3 IDOs, the $SEAT token will launch as a price discovery offering. It means that the earlier users deposit their funds into the contract, the better the price they will have a chance to buy their $SEAT tokens.
You can pre-register for the IDO before it starts on May 24 to get step-by-step guidelines on how to participate.
