Blockchain event ticketing system, SeatlabNFT has launched its £1 million event creator fund to help artists and event organizers with the cost of running live events.
SeatlabNFT often uses blockchain technology to issue event tickets as NFTs. The platform can now be used by artists and event planners to take back control of the secondary market, combat counterfeiting, and offer prizes and collectibles.
SeatlabNFT has offered non-repayable grants that are open to applications from events and festivals worldwide. Successful applicants will receive their grants in installments, becoming a sponsored event and official ticketing client in the process.
Ryan Kenny, Director of Seatlab, said: “We’re excited to announce the SeatlabNFT Event Creator Fund, which we hope will provide organizers around the world with the financial injection needed to allow them to try out and embrace our event ticketing technology at their events. We’re looking to work with a wide range of events, so we encourage everybody who will benefit to apply.”
There is no minimum or maximum amount associated with the grant as different events have varied capital requirements. Grants can be used towards upfront costs associated with running a live event, such as venue deposits, artist booking fees and marketing campaigns.
Applications can be made via seatlabnft.com and will be assessed on a case-by-case basis. Applicants will be asked to provide detailed information about their event, including any venue contracts and artist agreements.
The amount of the grant that the applicant is requesting and the distribution of the funds must be specified. Within a few weeks, SeatlabNFT will review applicants internally and make a choice.
Applications may be submitted through seatlabnft.com, and they will be reviewed individually. In-depth details on the event, including any venue contracts and artist agreements, will be requested from applicants.
The amount of the grant that the applicant is requesting and the distribution of the funds must be specified. Within a few weeks, SeatlabNFT will review applicants internally and make a choice.
Successful applicants will get their grants in installments, with the following payment being available when they accomplish a critical milestone, such as when tickets go on sale, 50% of the available tickets are sold, 100% of the available tickets are sold, and the event day.
Additionally, SeatlabNFT takes into account the applicant’s prior success in organizing events, the social media presence of pertinent parties, and anything else that may assist them better evaluate the event’s potential.