SeatLabNFT Launches On NEAR Protocol to Enhance Ticketing

New York City: The ticketing industries for music, theater, and sports are poised to undergo a major transformation. In its first release on the NEAR Protocol, SeatLabNFT will herald a new era in NFT ticketing. The site’s goal is to reduce hawking and promoting while strengthening connections between fans and the performers or teams they support.

The use of non-fungible tokens is becoming commonplace in the music, sports, and entertainment industries. It’s interesting to note that many famous people, including musicians and sportsmen, now boast about their NFTs online. The intriguing usefulness of NFTs, however, extends well beyond their use as profile images.

For its part, SEATLABNFT has pledged to “revolutionize tickets utilizing NFTs and blockchain technology.” However, a huge current obstacle faced by the ticketing ecosystem is invasion of the secondary market. Ticket scalpers and peddlers are usually to blame for the lightning-fast turnover of sold-out events.

Even still, secondary ticket markets sometimes have these seats available for sale at astronomical rates. Fans of both sports and music, however, have accepted this unfavorable fact. CEO of SeatLabNFT Ryan Kenny sent a memo to employees explaining the current predicament.

Kenny said that he had developed many ways to eliminate scalpers, but that they still had flaws that needed correcting. As an example, web 2.o cannot monitor secondary market activities. Because of this, fans must shoulder the financial load by shelling out astronomical sums to see their favorite performers live.

And since scalpers control the secondary market, artists seldom get any of the profits from their work. We created SeatLabNFT to address these problems. Artists may create NFT tickets and sell them to fans directly because to the protocol’s consensus structure.

As a result, there is no possibility for scalpers to get in. New Ticket Technology (NFT) tickets cannot be counterfeited, unlike paper tickets. Kenny predicted that the widespread use of Web3 would provide an air of exclusivity to NFT tickets.

SEATLABNFT’s mission is to enhance the connection between artists and their audiences by creating more interactive and entertaining events in clubs. Making the audience feel more like participants than passive observers. As a result, this will deepen the connection with and devotion of the audience.

To kick things off, artists will create, issue, and mint NFTs for the exhibition. Curiously, SeatLabNFT hopes to push the envelope by letting NFTs live on the blockchain in the form of music, video, and other forms of digital art. These NFTs may be bought, sold, airdropped on demand, or displayed all via the same smart contract that regulates the secondary market.

In addition, designers may use SeatLabNFT smart contracts to airdrop or otherwise reward concertgoers with NFTs or collectibles relevant to the event as an incentive to attend. An artist might airdrop an NFT to several fans that they know will be attending a performance after they have done so. This allows producers and artists to offer a wide range of collectibles with a variety of perks, such as reduced prices on merchandise and early access to concerts and projects.

Several of SeatLabNFT’s planned features have been implemented, and the platform is now in its second stage of development. The SeatLabNFT app may be downloaded through the Google Play store, the App Store, and elsewhere. In addition, the app allows users to redeem membership cards for NFTs, giving them access to an infinite number of virtual reality experiences.