The team behind ticketing service Seatedly have launched NFT-powered event ticketing system SeatlabNFT which they say will help event organisers to regain control of the secondary market, prevent counterfeiting, and bring fans and artists closer together with exclusive rewards and collectibles.
By using blockchain technology and smart contracts, SeatlabNFT enables those selling tickets to mint them as NFTs. SeatlabNFT CEO Ryan Kenny said the aim is to allow greater control over ticket sales, and the potential for transfer and resale.
He said the system will enable event operators to add their own conditions and royalty splits to tickets to make sure that if the tickets are later sold on the secondary market a fixed percentage of the resale revenue is transferred to them.
SeatlabNFT said it will offer exclusive rewards and perks such as collectibles that can be attached to NFT tickets to encourage fans to purchase upgrades. These may include rare audio recordings of the live event, images, videos, merch and other digital content.
Kenny said, “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.”