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15.07.2022, Words by Billy Ward

SeatlabNFT launches £1 million creator fund for the live events industry

"Thanks to the power of Web3, we have a rare opportunity to rebalance the live events industry..."

Web3-powered ticketing platfrom SeatlabNFT has launched a series of non-repayable grants worth £1 million to help event organisers with the financial burden of running live events.

The SeatlabNFT Event Creator Fund is aimed at organisers and artists worldwide and encourages a wide range of events to get involved in the scheme.

The Web3 platform aims to improve the live event experience for fans and bring them closer to their favourite artists by harnessing the power of NFTs.

“Driven by profit, plagued by touts and dehumanised by bots, the legacy ticketing industry has ruined the experience. The current system doesn’t serve artists, fans or brands,” a statement on Seatlab’s website reads.

“The ticketing industry is at a crossroads. Thanks to the power of NFTs and Web3, we’re presented with a rare moment in time to reset the balance in favour of artists, event organisers and fans.

“Thanks to the power of Web3, we have a rare opportunity to rebalance the live events industry and create genuine value for everyone involved,” it adds.

Having previously worked with the likes of Kraken, HSBC, BBC, Pepsi Co., and more, the SeatlabNFT team has built and scaled products for some of the world’s biggest Web2 and Web3 companies.

The company believes that NFTs could potentially reduce the scourge of scalping in the ticketing industry and bring fans and artists closer together through exclusive rewards and collectibles. They could also enable artists and event organisers to regain control of their ticket resales through the introduction of smart contracts.

Find out more and how to apply for the SeatlabNFT creator fund here.

Read next: Limewire’s music NFT marketplace officially goes live

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