NEAR To Impossible | SeatlabNFT | New Fairer Ticketing

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:00

   everyone has had a personal experience or a bad experience with trying to buy a ticket whether it's you know sold out within like three seconds of going on sale you know a stupid price on resale markets and just not having tickets not being accessible to normal people it was almost impossible for a normal fan just to get hold of a ticket and yeah that's why we wanted to create a product which

2. 0:16

   can offer a credible solution to that problem and we just thought you know what better way to solve this than use blockchain to make something more transparent and more fair for everyone yeah and that's where Libya came from that's the ticket towels scalpers and Bots C11 ft we are a nft event protecting Marketplace Street 1150 is a product that's going to really change the event sector make it fairer for all I'm Jack

3. 0:45

   Waterfield I'm the creative director and co-founder of seat lab nft hi I'm Ryan Kenny I'm CEO and co-founder of sea level nft me and Ryan have been working together for how long now a little too long a long time we've had a web 2 ticket in um platform first but then we've seen all the power of that nfts can bring so yeah we've started building an nft event ticket in Marketplace we're looking to solve some of the biggest problems in

4. 1:10

   the event ticketing sector we came for the idea because we previously worked in web 2 ticketing and we noticed a lot of big problems in the industry namely like ticket fraud scalping ticket touts and just like a lack of connection between fans and artists Jack and I are a bit of blockchain nerds ourselves and we just thought you know with the nft boom last year we thought this technology can actually do so much good in the entertainment sector I think I've been involved in blockchain for a long time

5. 1:35

   when I was just so excited um yeah and just really my passion sort of LED from there really shortly after that met Jack and we started our own digital marketing agency worked it quite heavily in the event sector and yeah just naturally we progressed into seeing a lot of problems with current ticketing products and we thought you know what we could probably build something a bit better than what's currently on the market I think from that I think fans were sort of crying out for this sort of

6. 1:57

   better buying experience so anyone can buy tickets and if they need to sell them they can sell them on an Open Marketplace and people can just you know buy and sell tickets with ease we've also added loads of functionality like ceiling prices to tickets for example say Adele wants to put tickets on sale but they don't want it to go over say 500 or something like that so you can

7. 2:20

   actually add caps and stuff like that so we're building these like really functional tickets to to provide a fairer solution for for everyone really artists fans and event organizers I got into sort of nfts nft technology and and crypto all in all together and what I was actually really into was not the nfts themselves but the actual sort of buy-in experience it was that transparency and there was no sort of centralized entity control in the price it was just this sort of really easy to

8. 2:51

   use um platform and I thought why isn't it being done with tickets I think like this sort of bad transparent peer repair Network should be within the ticketing sector yeah we've got sort of really gross into nfts and the transparency of it and the openness of it and almost the decentralization of it yeah it's interesting time yeah well actually we didn't start on there initially when we first caught the concept we were quite heavily in the Solana Community but before we sort of pulled the trigger on I actually started to develop the

9. 3:17

   product we did a bit of an analysis on all the layer ones and just all the options that are out there we've never even heard of near and somebody suggested it to us we started looking into it and it was just like wow this Tech's actually really good as a ticketing product we need to lock really fast needs to be very scalable and also very cheap as well and they're just offered all those sort of it's not the perfect storm almost they just aligned

10. 3:34

    to what we're trying to do we need to be able to like cope with mass scale you know Ticket Company we do lots of traffic lots of orders we needed a blockchain I could cope with that there's hundreds of transactions with thousands per event you know it could easily rack up big bills near offered a credible solution though you know we didn't have to spend big money to do it it could handle with a cope with the demand yeah it could scale with us as well so and that's why we chose near another great thing is their sort of

11. 3:57

    usability of their wallet so it's really easy to set up a wallet and they offered sort of the cheap like gas fees and obviously the usability side and finally I think the the community side as well has been great the transition from web 2 ticket into web3 ticketing is providing all these features that you couldn't do with web 2 ticketing software so we are implementing airdrops a transparent resale market and proof of ownership so you can look up your tickets on chain

12. 4:27

    and you know that you actually own that ticket and then tickets stored in their wallet but it's also stored on chain we can actually reward loyal fans and I feel like when you buy tickets you know so now we can track sort of like super fans so artists and event organizers can monitor this if you've gone to over 10 of my events or you've bought five of my collectibles I'm gonna airdrop you

13. 4:51

    another nft and now that nft could be you know just a an MP3 audio over exclusive trap or it could be a ticket so the the capabilities of airdrops are infinite because they can air drop all this functional stuff you're quite limited what you can do with web 2 ticketing as well if it's just like an email with a PDF with like a static QR code you're very much limited to what control you can offer on that I feel like now with the sort of web 3 movement

14. 5:16

    and like the introduction of wallets we sort of call them programmable smart tickets or motion and they're digital nft tickets that you know the seller can have lots of different parameters that they can set I think where companies are going to sort of win in web 3 and nfts people don't need to know that it's a crypto wallet they don't need to know that they own an nft it's just a collectible so we've tried to make it as user friendly as possible so you

15. 5:40

    literally download the app you just verify with your phone number and then instantly you have a crypto wallet there's no complicated private keys that you need to store it's all encrypted with your phone number you don't have to buy any tokens you don't need to know anything about crypto I think we're a bit of a weird nft project in the fact that we're not really game to nft people or crypto nerds or even web3 enthusiasts we're just aimed at normal everyday people which is why we spent a lot of

16. 6:05

    time money and effort trying to hide all blockchain complexity we're trying to be a mass Market product so you know if your little sister or your mom wants to buy a ticket they could use our product easily I think where the event industry is going I'd I'd love it to be a much more immersive experience easy and accessible for everyone you know we're not just like a flash in the pan and ft project we're trying to disrupt the monopolies that currently exist today we're trying to offer a different

17. 6:29

    alternative technology to solve some of the big problems that we see and just everyday people see provide a new tech solution to solve that utilizing blockchain technology which is obviously very cut in Edge and we're just trying to harness that power for greater good I guess