On October 7, SeatlabNFT confirmed that $SEAT trading Will go live for the first time on a decentralized exchange (DEX). $SEAT will be available to trade on Ref Finance from October 27, 2022.
SeatlabNFT is developing a nonfungible token ticketing marketplace on the climate-neutral NEAR Protocol blockchain. It is expected to address the critical challenges facing the event ticketing sector. For now, event ticketing is affected and dominated by scalpers and fraud, with dissatisfaction over Web2 solutions widespread.
Issuing tickets as nonfungible tokens guarantees the end of fraudulent tickets, thanks to the total transparency offered by blockchain networks. Moreover, SeatlabNFT is considerably reducing the effect of scalping by providing artists and event creators with control over the secondary market through smart contracts.
The firm hopes that its platform will be far more than just an event ticketing service provider and solution. They are now harnessing the power of Web3 to develop a highly immersive and connected experience for the fans.
In that context, they have designed their native utility token, $SEAT, to help unlock access to their Rewards Centre where the holders will accumulate some points after every 30 days that they hold $SEAT in a connected wallet that can be readily exchanged for exclusive rewards like free products from top brands, VIP tickets, merchandise, and a lot more.
Moreover, people who hold the $SEAT tokens will pay a lower booking fee when purchasing NFT tickets and collectibles. They will have the ability to stake their $SEAT in return for a healthy APY. The team has more than ten years of cumulative experience in the live events sector and is using its connections to onboard some big-name artists to assist in enhancing the adoption of NFT ticketing.
While feeling not content with turning household names to the benefits of Web3, the firm has also recently announced a £1,000,000 Event Creator Fund, which is a non-repayable grant to help in covering the costs of putting on live events. In that context, their Event Creator Fund is open to everyone who wishes to apply.
Fresh off the back of a successful appearance at NEARCON in Lisbon, where SeatlabNFT hosted an NFT-ticketed VIP networking event, the team of developers is not looking ahead to its time at the Amsterdam Dance Event. At this event, the team will host another exclusive NFT-enabled party to showcase their product.
The arrival of $SEAT to the Ref Finance DEX on October 27 is sure to be a welcomed phenomenon for investors and those who are looking to get in early and enjoy the many benefits that it offers. When trading goes live, anyone who adds liquidity to the liquidity pool on Ref Finance will get LP tokens. They can then use these tokens to stake in a yield farm to earn huge extra rewards paid out in $SEAT.
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