SeatlabNFT launches £1 million creator fund

The SeatlabNFT grants are open to applications from events and festivals worldwide with successful applicants receiving their allocations in instalments. The instalments will be released when beneficiaries hit 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.

“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,” Seatlab director Ryan Kenny said. “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 and it can be used towards different expenses associated with running a live event, such as venue deposits, artist booking fees and marketing campaigns.

Applications can be made here 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 will also look 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.

SeatlabNFT uses blockchain technology to issue event tickets as NFTs. Artists and event organisers can also make use of the platform to regain control of the secondary market, prevent counterfeiting, as well as provide rewards and collectibles.