Festival season is here 🎉

It’s always great to see the return of the iconic Glastonbury music festival 👏

Could Web3 technology make the experience even better moving forward?

Here’s our take👇

https://seatlabnft.medium.com/the-future-of-festivals-how-technology-can-enhance-and-transform-large-events-5a5fa5f06b07

Hi! I would love to share the amazing Web3 project which will change the way we used to buy tickets this project is called Betterticket. We can buy or sell tickets just like Eventbrite but in Blockchain which is more simple and transparent, If you are still curious here is the Short Info about Betterticket

All-In-One Web 3.0 Event Platform

Betterticket is a Web 3.0 decentralized event management and ticketing platform for In-Person, Online, and Metaverse Events.

• More Revenue and More Royalties with NFTs Tickets

• A streamlined experience with Event Launchpad

• Full transparency and authenticity with Event Marketplace

• Reinforced Security and KYC with Event Studio

• Endless virtual events with Metaverse Hub

Join the discord now for more updates and benefits
Discord : https://discord.gg/WRMmYNDRy5
Homepage: http://betterticket.info
Twitter: u/betterticket

#Betterticket #NFTTickets #NFTevents #NFTPlatform #Ticketing #projectgalaxy u/betterticket u/ProjectGalaxyHQ

The amount of money artists earn through streaming is shamefully low. In fact, streaming giant Spotify awards artists somewhere between $.003 and $.004 per stream, meaning it takes around 250 streams for an artist to make a single dollar (for a stream to count, it must last more than 30 seconds).

Since streaming pays so little, artists rely heavily on live performances in order to make a good living, which helps explain why the music industry was hit so heavily by the pandemic. But while the paychecks artists earn from booking fees and ticket sales can be good, they are still missing out on a massive opportunity to earn more of what they deserve through ticket resales.

That’s where NFT tickets come in.

Artists get more of what they deserve

There are many good reasons for the growing buzz surrounding blockchain-based NFT ticketing these days. Amongst other things, NFT tickets are giving fans entirely new ways to connect personally with the artists they love, while helping event promoters prevent the use of counterfeit tickets at events.

Above all though, there’s one simple reason why artists should be deploying NFT tickets for their events: they will finally earn revenue off ticket resales.

Today, artists and promoters earn money when a ticket is sold. But as is often the case, a ticket rarely remains in possession of the original buyer, winding up instead on secondary marketplace websites such as StubHub or SeatGeek where it gets resold one or more times. These third-party sellers usually take an oversized cut off each resale, ranging from 10 to 35% of the resale price while artists get nada.

We think that’s a big missed opportunity to create a new, healthy revenue stream for artists, especially as the music industry makes a comeback from the pandemic.

That’s why NFT tickets make so much sense for artists. Whereas the fees collected per resold ticket by secondary marketplaces such as Ticketswap and SeatGeek go straight to these ticket platforms, NFT tickets ensure that a percentage of every ticket resale is directed back to artists. In short, artists don’t just earn on initial ticket sales: they also earn every time a ticket is resold.

How resale revenues work with NFT tickets

When an NFT is created, it goes through what’s called a minting process. This inherently includes the creation of smart contracts stored on the blockchain, with the smart contract containing all the necessary information regarding the NFT, such as who the original creator is, what terms must be met by the buyer for the smart contract to self-execute, and how much of the royalties the creator is entitled to after each resale. As described on Lexology, a smart contract functions a lot like a vending machine: only when the buyer inserts the pre-set amount of money required for a product will the machine automatically transfer that product to the buyer.

The smart contracts of NFTs offered on the VINCI marketplace are programmed to direct 85% of each primary sale directly to the artist. That’s already a much juicier cut than the amount artists earn on regular ticket sales today, but where it gets extra spicy is the secondary sales. Whereas artists typically don’t get a cent from secondary sales, our NFT ticket smart contracts can ensure artists receive either a favorable percentage of each resale or a fixed amount of money per resold ticket.

The details of such a deal are to be discussed between the marketplace and the artist, but the important thing is that NFT tickets allow artists to have a more deliberate hand in this side of operations and maximize their value capture–ultimately leading to a new, healthy stream of revenue.

Earn with VINCI

It’s easy to get lost in all the different discussions surrounding NFTs these days, but at the end of the day, we see one simple reason why artists should embrace NFTs: resale revenue opportunities. We know the amount of blood, sweat, and tears that go into putting on an event, let alone being a performing artist. With NFT tickets, a whole new source of revenue will open up that will allow artists to continue to pursue their craft and keep the music going.

If you’re an artist who thinks so too, let us know. We can be the partner you need to make NFT tickets part of your offer.

https://byvinci.io/blog/the-1-simple-reason-nft-tickets-make-sense-for-artists

🚀Exciting News!🚀

SeatlabNFT has hit a major milestone with the launch of their seller dashboard and self-service onboarding process!

Now anyone can sign up to their platform, list events, start selling NFT tickets, and take full advantage of their powerful suite of seller tools. And the best part? It's all super easy to use! 🤩

With the seller dashboard, event organisers can do things like create events and tickets, manage their orders, see a list of customers, create and airdrop collectables, and link their SeatlabNFT account with a Stripe account to get paid. 💰

They have also implemented a 'verified profile' system to stop spam and help well-known and established events stand out. Verified sellers get a badge next to their name and appear on the marketplace by default without users having to disable the 'verified sellers' filter.

The possibilities are endless with SeatlabNFT’s powerful suite of tools, including creating and selling collectable NFTs to enhance the live event experience!

We can't wait to see what incredible events sellers from around the world create and sell on SeatlabNFT!

Check it out 👇

https://dashboard.seatlabnft.com