Place/Date: - October 7th, 2022 at 9:00 am UTC · 3 min read
Today, SeatlabNFT announced 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 27th 2022.
SeatlabNFT is building an NFT ticketing marketplace on the climate-neutral NEAR Protocol blockchain that will address the critical issues facing the event ticketing industry. Currently, event ticketing is plagued by scalpers and fraud, with dissatisfaction over Web2 solutions widespread. Issuing tickets as NFTs guarantees an end to fraudulent tickets, thanks to the transparency provided by blockchain networks. Additionally, SeatlabNFT is significantly reducing the impact of scalping by giving artists and event creators control over the secondary market via smart contracts.
The company hopes its platform will be far more than just an event ticketing solution. They’re harnessing the power of Web3 to create a more immersive and connected experience for fans. Their native utility token, $SEAT, will unlock access to their Rewards Centre where holders will accumulate points every 30 days they hold $SEAT in a connected wallet that can be exchanged for exclusive rewards such as VIP tickets, free products from top brands, merchandise and much more. Additionally, people who hold $SEAT will pay a reduced booking fee when buying NFT tickets and collectables and will also be able to stake their $SEAT in return for a healthy APY.
The team has over a decade of combined experience in the live events industry and is using its connections to onboard some big-name artists to help boost the adoption of NFT ticketing. Seemingly not content with turning household names to the benefits of Web3, the company have also recently announced a £1,000,000 Event Creator Fund, a non-repayable grant to help cover the costs of putting on live events. Their Event Creator Fund is open to anybody 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 are looking ahead to their time at the Amsterdam Dance Event, where they will host another exclusive NFT-enabled party to showcase their product.
The arrival of $SEAT to the Ref Finance DEX on October 27th is sure to be welcomed by investors and those looking to get in early and take advantage of the benefits it provides. When trading goes live, anybody who adds liquidity to the liquidity pool on Ref Finance will receive LP tokens that they can stake in a yield farm to earn massive additional rewards paid out in $SEAT.
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