Next generation ticketing platform, Get Protocol, has raised a whopping $4.5 million in funding as it looks to transform the market with bleeding edge technology. Going forwards, it will continue to employ NFTs to access concerts, shows, and events, as it plans to go head-to-head with industry goliath, Ticketmaster.
The latest round of funding was led by Flow Ventures, with additional support from Tezos Foundation, Animoca Brands, Redbeard Ventures, and Funfair Ventures. While a number of angel investors including Sebastian Borget and several unnamed individuals also participated.
Get Protocol will now use the funds to expand its alternative to the traditional ticketing strategy. Effectively, using NFTs to provide a more secure option for event-goers, in addition to offering standard ticketing to those unsure of the technology. As a result, it is this two-tier approach that straddles the line between Web2 and Web3 that has seen Get Protocol succeed when fellow NFT ticketing platforms have fallen by the wayside.
POV: You’ve just discovered NFT Ticketing as a usecase and want to know all about it.
Here’s an introduction to the protocol that’s leading the #TicketingRevolution with a suite of innovative tooling for creators, event organizors and fans around the world. ✊🎟️
— GET Protocol ✊🎟️ (@GetProtocol) July 11, 2023
Get Protocol Proves it has Staying Power in the Ticketing Industry
Something of a slow burner, Get Protocol has been operating quietly in the background since 2016, building a strong customer base, and a solid product. Now however, it has aligned with the Tezos blockchain as its default chain, and will use the knowledge gained over the last 7 years to expand its ticketing horizons.
Get Protocol initially faced difficulties in raising the funds required for expansion, not so much due to the current cooling of the NFT market, but to the overarching power of industry bigshot, Ticketmaster. As a result, many investors were reluctant to go head-to-head with the ticketing goliath fearing that the market was impenetrable. Now however, with Tezos, Animoca and Flow onboard, Get Protocol has positioned itself for the next stage of its evolutionary journey.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.