Backstage brings blockchain to the events industry, aiming to bring a revolution in this field. Through the BKS token and blockchain ecosystem, the company wants to solve the current challenges facing the entertainment and events sectors. From financing and payments to marketplaces and NFT ticketing, Backstage will take the events industry toward a more profitable, sustainable, and fair future.
This project offers many exciting features. It can bring the events industry together on the blockchain. Furthermore, it can set the industry up for the 21st century and beyond. The blockchain ecosystem creates many efficiencies, and the team plans to use its advantages fully. The platform’s hot native token, BKS, will become a financing vehicle for artists, entrepreneurs, event venues, etc.
The Coronavirus pandemic hindered the financing of many companies, as investors and lenders stayed away from firms that depended on in-person events. However, it’s time to adopt a blockchain-based financing system that’s transparent, efficient, and trustless. Thanks to this platform, festival operators or musicians won’t have to knock on bank doors for capital anymore. They can instead raise BKS tokens to launch their event.
Backstage will leverage NFT technology to help put an end to counterfeit ticketing. Each NFT is unique and non-interchangeable. They are also verifiable, just like fingerprints. The lack of interchangeability will make counterfeit tickets impossible. In addition, event operators won’t have to charge ticket fees. After all, they won’t have to rely on legacy players such as Ticketmaster. Such intermediaries charge fees that equal an average of 27% of the ticket price.
What are BKS token’s other benefits?
Backstage will enable its users to achieve everything within the blockchain. For example, its customers could use BKS tokens everywhere around the globe, whether they are holding a virtual conference in the metaverse or a music festival in Miami. Customers don’t have to worry about different currencies and payment systems. They will be able to handle everything on one digital platform.
Nowadays, the events and entertainment players reward mostly the monopolists. Even if a young creator manages to make it big, chances are Spotify, YouTube, or another platform is taking more than their fair share. People need a system that rewards creators for what they are worth. Through Backstage’s NFT marketplace and blockchain ecosystem, creators, such as musicians, comedians, and artists, will be able to get rewards for their work fairly finally.
Moreover, the company’s NFT Platform will allow content creators to immortalize their content and productions as non-fungible tokens. In this way, producers, musicians, and creators of any content of interest will be able to monetize their talent within the events ecosystem rapidly. Meanwhile, the Marketplace is the space where all economic activity in the events industry happens, from ticket sales to advertising orders. The BKS Marketplace will list ticket sales, advertising opportunities, NFT drops, and more. It will become a one-stop-shop for everyone in the industry.
When will the BKS token’s ICO start?
The company plans to launch its native token on June 20, 2022. The sale will end on June 21, 2022. 12,500,000 BKS will be available for purchase for the price of $0.020000. That is 1.25% of the total supply. Users will be able to buy the tokens on the Enjinstarter platform. The team aims to raise $250,000 with the sale, and it will accept BUSD in exchange.
Besides, the company will soon offer unique art-like NFT tickets, specifically designed to drive merchandise and at-event sales. With its loyalty NFTs, the platform will generate revenue while offering owners various privileges. Unique and beautiful NFT tickets will also act as a sales channel for artists and venues by providing added value, like artist merchandise.
There is also Crypto POS Wallet. It will accept crypto seamlessly and allows users to swap currencies, pay invoices, and more. On the other hand, a buyback mechanism will enable customers to support partner liquidity and creates buy pressure for the BKS token.
Project Galaxy continues attracting investors’ attention. Why’s that?
Project Galaxy is the largest Web3 credential data network worldwide. The team has built it on an open and collaborative infrastructure. This platform helps Web3 developers and projects leverage credential data to build better communities and products. At the same time, data curators get rewards when credentials are used in Galaxy’s Credential Oracle Engine, Application Modules, and Credential API.
The company ended its ICO sale recently, but its native token, GAL, is becoming more and more popular. This ERC20 token has very high rankings on various ICO listing platforms. The total supply of tokens is 200,000,000, and its value will likely increase over time.
The Project Galaxy team aims to build the infrastructure to power an open, collaborative credential data network. It will help Web3 developers leverage credential data, enabling them to develop better products and communities. Moreover, data curators will contribute to the company’s credential data network while earning an income once the data is utilized.
Project Galaxy offers interesting solutions to the existing problems
Nowadays, credential data is segregated across closed. Applications, government organizations, and financial and credit institutions own these databases and give permissions. However, this has led to a fractured landscape that is not open to the average users who should own that data or the applications that need it.
Project Galaxy wants to solve this problem using its collaborative credential data network that will be accessible to all developers in Web3. The company will provide the infrastructure for community members to curate and contribute digital credentials to its data network. Its infrastructure will also support curating credentials through multiple data sources. Furthermore, curators will be able to contribute with static snapshots or subgraph queries for on-chain credentials. The team has integrated data sources such as Twitter, Snapshot.org, and Github for off-chain credentials.
By contributing to Galaxy’s Credential Data Network, curators will get rewards. However, they will have to use credentials in Galaxy’s Application Modules, Credential API, or Credential Oracle Engine. Because users are consuming (paying to use) data in this ecosystem, such an approach will incentivize more users to curate the company’s data network. Overall, this platform has a good potential to achieve its goals.
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