The NFT ticketing company, Get Protocol has raised an impressive $4.5 million to compete with mainstream ticketing service, Ticketmaster, with NFT tickets. With seed funding led by Flow Ventures and involvement from the Tezos Foundation, it is using an innovative Web 2.5 approach to ticketing.
TL;DR
- Get Protocol secures $4.5 million to challenge Ticketmaster with NFT ticketing, aiming to change the industry.
- The company has already issued over 4 million blockchain-based tickets for renowned artists, with more exciting announcements on the way.
- Get Protocol’s success lies in its unique Web 2.5 approach, focusing on mainstream events while seamlessly integrating crypto technology. The Tezos Foundation and Animoca Brands support their mission to reshape the ticketing industry.
Get Protocol Challenges Ticketmaster With NFT Ticketing
NFT ticketing company, Get Protocol, has secured an impressive $4.5 million in funding to challenge the traditional ticketing giant, Ticketmaster. Get Protocol’s disruptive approach aims to change the industry by using NFTs for ticketing.
With over 4 million blockchain-based tickets already issued using Get Protocol’s technology, the company has gained traction, serving popular artists like Ne-Yo, Gucci Mane, Lewis Capaldi, and Louis C.K. Further exciting announcements are expected from Get Protocol shortly.
While operating relatively under the radar, Get Protocol’s CEO, Maarten Bloemers, believes it’s time to attract attention from the crypto world. Bloemers explained the importance of building a strong foundation before seeking immediate success.
The seed funding round was led by Flow Ventures and gained support from notable Web3 players such as the Tezos Foundation, Animoca Brands, Redbeard Ventures, and Funfair Ventures. Several undisclosed individuals and funds also contributed, showing the growing interest in Get Protocol’s disruptive potential.
Challenging the dominance of Ticketmaster has not been an easy task for Get Protocol. A few powerful players have long-controlled ticketing, creating challenges for changing the industry. However, Get Protocol, along with other startups like YellowHeart and Tokenproof, has embraced NFTs as a solution to issues faced by Web2 technology, including online queuing glitches, scalping, and inadequate attendee data collection.
The Web 2.5 Approach
Get Protocol’s unique Web 2.5 approach contributes to its success. Unlike other projects, they focus on mainstream events while seamlessly integrating crypto technology behind the scenes. This strategy allows for wider adoption as a solely Web3 approach may not be feasible for large stadium concerts at present.
In addition to raising funds, Get Protocol actively sought a crypto mentor in the industry. They believe they have found the perfect partners in the Tezos Foundation and Animoca Brands to support their mission. With their innovative NFT ticketing solution, Get Protocol aims to reshape the ticketing industry. The future looks promising as they continue to pave the way, leveraging the power of blockchain and NFTs.
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