Joe GallopAmsterdam-based NFT ticketing provider GET Protocol has raised $4.5m (£3.4m) in a seed round.
Led by Flow Ventures, the list of investors also includes Web3 veterans such as Animoca Brands, Redbeard Ventures, Funfair Ventures and the Tezos Foundation, alongside various funds and individuals, including Sebastien Borget, co-founder of blockchain game The Sandbox.
After receiving backing through an initial coin offering in 2017 for GET Protocol’s utility token (GET), the company said the latest round will enable it to continue its seven years of global operations and break into new markets through strategic alignment.
A spokesperson for Flow Ventures said, “Ticketing is one of the few web3 applications that everyone agrees on, but very few people work on. That’s because it’s an incredibly hard industry to penetrate. We strongly believe this will be one of the first web3 projects that becomes mainstream.”
To date, more than four million blockchain-based tickets have been issued using GET’s tooling for artists such as Ne-Yo, Gucci Mane, Lewis Capaldi, Louis C.K and others through integrated ticketing companies around the world.
GET Protocol CEO and co-founder Maarten Bloemers said, “After laying low and building out the tooling that generates significant interest from the biggest decision makers in the events industry, we are now stepping into the spotlight. The strategic investors that are a part of this seed round provide us not only with ensured continuity but also most importantly the network and know-how to vigorously scale up our business across the board and grab the attention within the Web3 space.”