NFT-powered event ticketing service SeatlabNFT has launched an “event creator” fund to help artists and event organisers with the cost of running live events.

SeatlabNFT, which launched earlier this year, said the non-repayable grants are open to applications from events and festivals worldwide.

Successful applicants will receive their grants in instalments and will become a SeatlabNFT sponsored event and official ticketing client.

SeatlabNFT said there is no minimum or maximum amount associated with the grant and they can be used towards various upfront costs associated with running a live event, such as venue deposits, artist booking fees and marketing campaigns.

Successful applicants will receive their grants in instalments, unlocking the next payment when they reach a milestone such as sign-on bonuses, when tickets go on sale or when 50% of tickets are sold.

SeatlabNFT director Ryan Kenny said, “We’re looking to work with a wide range of events, so we encourage everybody who will benefit to apply.”