next-generation ticket sales platform, Get Protocolhas raised a whopping $4.5 million in funding aiming to transform the market with cutting-edge technology. Going forward, it will continue to take on industry giant Ticketmaster and will continue to employ NFTs for access to concerts, shows and events.
The latest funding round was led by Flow Ventures, with additional support from Tezos Foundation, Animoca Brands, Redbeard Ventures and Funfair Ventures. Meanwhile, a number of angel investors also participated, including Sebastien Borger and several anonymous individuals.
Going forward, Get Protocol will use this funding to expand its alternatives to traditional ticketing strategies. In effect, NFTs are used to provide a more secure option for event attendees in addition to providing standard ticketing for those less confident in technology. As a result, this two-tiered approach that straddles the line between Web2 and Web3 has allowed Get Protocol to thrive when other of his NFT ticketing platforms have faltered.
POV: You discovered NFT ticketing as a use case and want to know all about it.
is an introduction to the leading protocol. #TicketingRevolution It features an innovative suite of tools for creators, event organizers and fans around the world. ✊🎟️
1/8 pic.twitter.com/gyvnyjUxgq
— GET Protocol ✊🎟️ (@GetProtocol) July 11, 2023
Get Protocol Proves Persistence in Ticketing Industry
The slightly slower Get Protocol has been working quietly in the background since 2016, building a strong customer base and solid product. But now, as the default chain, he works with the Tezos blockchain and uses the knowledge he’s gained over the last seven years to expand the reach of ticketing.
Get Protocol initially faced difficulties in raising the funding needed to expand. This was not due to his current cooling of the NFT market, but to the overwhelming power of industry moguls, Ticketmaster. As a result, many investors were reluctant to go head-to-head with ticket issuers, fearing the market would be impenetrable. But now, with Tezos, Animoca, and Flow, Get Protocol is positioned for the next phase of its evolutionary journey.
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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.
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