Get Protocol, an NFT ticketing company, has successfully raised $4.5 million to launch its alternative to the traditional industry giant, Ticketmaster. The company claims to have issued over 4 million blockchain-based tickets using its technology, including tickets for artists like Ne-Yo, Gucci Mane, Lewis Capaldi, and comedian Louis C.K.
Get Protocol Secures funding of $4.5 Million to Challenge Ticketmaster with NFT Tickets
The journey of Get Protocol has been a long one, with the company operating relatively under the radar for seven years. CEO Maarten Bloemers believes that the time has come to grab the attention of the crypto world. He stated, “Taking the long road pays off. It doesn’t have to be ‘moon and lambos’ all the time.”
The Funding Round
The seed round was led by Flow Ventures and saw participation from Web3 heavyweights like Animoca Brands, the Tezos Foundation, Redbeard Ventures, and Funfair Ventures. The Sandbox founder Sebastien Borget and several other undisclosed individuals and funds also contributed.
The Challenges Faced
Despite the successful funding round, the journey was not smooth sailing. The fundraising environment was described as “absolute hell,” with the process starting soon after the collapse of the crypto exchange FTX in November last year. However, most of the rejections were due to the dominance of Ticketmaster, which Get Protocol aims to challenge.
The Future of Get Protocol
Get Protocol is looking to revolutionize the ticketing industry by leveraging NFTs to solve problems like glitchy online queuing for popular events, scalping, and poor data collection on attendees. The company believes that its “Web 2.5” approach, which involves ticketing mainstream events with crypto under the hood, is the key to its success.
About Get Protocol
Get Protocol is an NFT ticketing company that aims to provide an alternative to traditional ticketing giants like Ticketmaster. The company leverages blockchain technology to issue tickets for various events, including concerts and comedy shows. With its recent funding round, Get Protocol is poised to make a significant impact on the ticketing industry.
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