SeatlabNFT has launched its £1 million Event Creator Fund to help artists and event organisers with the cost of running live events.
SeatlabNFT is an event ticketing system that uses blockchain technology to issue event tickets as NFTs. Artists and event organisers can also utilise the platform to regain control of the secondary market, prevent counterfeiting, and provide rewards and collectibles.
The SeatlabNFT non-repayable grants are open to applications from events and festivals worldwide. Successful applicants will receive their grants in instalments, becoming a sponsored event and official ticketing client in the process.
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.
Ryan Kenny, director of Seatlab, said: “We're excited to announce the SeatlabNFT Event Creator Fund, which we hope will provide organisers 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.”
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.
SeatlabNFT also looks at the applicant’s experience of running successful events, the social media following of relevant stakeholders, and anything else that will help them better understand the event’s viability.
Applicants will need to outline the grant size they are requesting and how they will allocate funds. SeatlabNFT will internally assess applications and make a decision within a few weeks.
Successful applicants will receive their grants in instalments, unlocking the next payment when they reach a significant milestone, such as when tickets go on sale, 50% of tickets are sold, 100% of tickets sold and the day of the event.
