SeatlabNFT is a ground-breaking event ticketing platform based on the climate-neutral NEAR Protocol blockchain that aims to engage everyone in live events with a more immersive and connected experience. The IDO (Initial DEX offering) of the $SEAT token is currently the only opportunity for the community to invest in the SeatlabNFT platform.
An IDO is a way to raise money from retail investors. The $SEAT token, like many other Web3 IDOs, will launch on May 24 as a price discovery offering. This means that the sooner users deposit money into the contract, the better the price at which they can buy $SEAT tokens.
For individuals who own the $SEAT token, the SeatlabNFT platform is built on a tiered utility. Token holders enjoy a variety of privileges on the platform such as-
- A lower buyer’s cost when acquiring NFT tickets and other assets.
- Exclusive access to the Rewards Centre.
- Possibility to stake their tokens in return for a portion of the network’s collected fees.
Due to the unique ability of apps on the NEAR Protocol blockchain to reimburse any gas prices suffered by their users, ticket minting is free. SeatlabNFT makes money by charging a 5% buyer’s fee, which may be decreased by holding their $SEAT token. Staking incentives account for half of all collected buyer’s costs. The remaining half is sent to the platform’s treasury.
According to smart contracts, a predetermined percentage of any income earned from secondary sales is automatically delivered to a single or many royalty beneficiaries defined by the event creator. This implies that artists and event organisers will be compensated for their efforts, with cash flowing directly to them rather than scalpers and touts.
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