Lewis Capaldi will give an exclusive De-Fi concert in Reykjavik in August
Scalable ticketing and boutique solution XTIXS in partnership with GET Protocol has announced a new event funded by disruptive decentralized finance (DeFi) when Lewis Capaldi plays August 23 in Reykjavik.
Capaldi’s show will take place at the Laugardsholl Sport Center in Reykjavik. The venue is a versatile sports and exhibition venue in the Icelandic capital and was Iceland’s largest concert hall for many decades (before Egilshöll opened), with a maximum capacity of 10,000 standing room (or 5,000 seated) at Frjálsíþróttahöllin, the adjoining athletics centre.
The new ticketing process for Capaldi’s show in Reykjavik means the event is backed by a bespoke application of blockchain technologies – DeFi, NFT and the GET protocol’s $GET utility token – where future ticket inventory acts as collateral for a loan, whose terms are programmed into a smart contract. On top of that, all tickets are claimable as NFTs, making fraud, scalping and secondary sales of any kind completely impossible. This is a game-changing advancement that also generates new revenue streams and peace of mind for music lovers and event planners.
XTIXS offers a suitable and more than upgraded Web3 alternative for “on-demand” show solutions where people had to fund a show and as it was funded it was booked. The funding process for this event took 24 hours to be completed by real professional investors from different parts of the world, setting a first precedent for a very powerful tool in an industry that has independence and decentralization as key pillars for growth. . On the investor side, the investment was honored in less than 24 hours after the show went on sale, making this first collaboration an incredible success with great potential for replication.
To be able to circumvent this pioneering financing mechanism, XTIXS uses blockchain and DeFi technology and the product approaches designed by GET Protocol, adding the business strategy and services, then creating a platform integrating all the different actors on the financial side of the chain. value of a show.
This DeFi approach is in line with the disruptive spirit of blockchain and the decentralization of the notoriously opaque ticketing market. XTIXS’ blockchain ticketing system has already been tested at Caprices Festival in Switzerland, El Bosque Sonoro – Brizna festivals in Spain and other events, but this is the first large-scale deployment and it happens during the famous ‘Reykjavik Live’ where many of the biggest bands have performed.
The QR codes on XTIXS tickets change dynamically all the time, which, combined with the fact that each ticket is linked to a personal phone number, prevents fraudsters from creating any kind of secondary scalping sale. On the surface, the system for the end user is the same as what they are already used to, but the improved backend technology gives rise to a new set of possibilities in terms of security, personalization, art and memories.
Antonio Valero, Chief Revenue Officer of XTIXS, said, “The model of this partnership could be a game-changer for many content creators and fans. We are extremely pleased to partner with GET Protocol in creating next-generation ticketing solutions and an alternative, independent and fair funding model for live entertainment.”
Maarten Bloemers, CEO of GET Protocol, said: “By tokenizing future revenue from events, we are truly bringing Web 3.0 to the industry and removing the biggest barrier to democratization. Creators are no longer dependent on a board decision whether their career will take off, they can now put money where their mouth is, literally. This is truly an important step of which I am more than proud. We look forward to crystallizing the event funding approach and rolling it out to all ticketing partners in the GET protocol ecosystem.
“This is a historic moment for the e-ticketing industry that will change the way the system works for the better, for both ticket sellers and buyers, forever.”
Listen to the best of Lewis Capaldi on Apple Music and Spotify.