Dutch startup, GET Protocol, a NFT ticketing innovator, has raised $4.5 million in a seed round. The investment round was led by Flow Ventures alongside a list of investors, including Web3 veterans such as Animoca Brands, Redbeard Ventures, Funfair Ventures and the Tezos Foundation. It also saw participation from various funds and individuals, including Sebastien Borget, the co-founder of The Sandbox, who invested in Flowdesk.
After receiving backing through an initial coin offering in 2017 for GET Protocol’s utility token (GET), the round enables the protocol to continue its 7 years of global operations and break into new markets through strategic alignment. Also, it will ensure GET Protocol continues to significantly disrupt the ticketing industry.
Maarten Bloemers, CEO and co-founder of GET Protocol said, ‘We are thrilled to have completed this important step for the protocol. After laying low and building out the tooling that generates significant interest from the biggest decision makers in the events industry, we are now stepping into the spotlight. The strategic investors that are a part of this seed round provide us not only with ensured continuity but also most importantly the network and know-how to vigorously scale up our business across the board and grab the attention within the Web3 space.’
Flow Ventures explained, “Ticketing is one of the few web3 applications that everyone agrees on, but very few people work on. That’s because it’s an incredibly hard industry to penetrate. We strongly believe this will be one of the first web3 projects that becomes mainstream. One that puts NFTs and wallets in the hands of more than a hundred million users without most of them even knowing it. GET has proven its tenacity as one of the oldest web3 projects, and we think they are up for the task of fully disrupting the ticketing industry.”
Amar Odedra, Venture Capital Lead for the Tezos ecosystem added, “We are immensely excited about NFT ticketing as a transformative application of blockchain technology. Our partnership with GET Protocol to become their new native blockchain further solidifies our commitment to fostering innovation and embracing pioneers who are pushing boundaries in their respective fields. Together, we will drive the ticketing industry forward and set new standards of innovation, efficiency, and trust for millions of users worldwide.”
Digital ticketing infrastructure provider
Founded in 2016 by Maarten Bloemers in Amsterdam, GET Protocol is an NFT ticketing solution that essentially bridges mainstream audiences into web3 at large scale. The team has over 50 in both Amsterdam and remote. Its products are being used by creators and ticketing companies to offer a radically new way of ticketing. Over 1 million tickets have been processed so far.
The protocol gives complete control over the sale and trade between ticket holders from the moment the first ticket is sold until the last ticket is scanned and enables organisers to tap into NFTs at ease. Alongside fully safe and transparent ticketing, the tooling developed by the protocol has delivered various innovations, such as evolving collectibles for sports fans and the on-chain pre-funding of future events for independent artists.
To date, over 4 million blockchain-based tickets have been issued using the protocol’s tooling for artists such as Ne-Yo, Gucci Mane, Lewis Capaldi, Louis C.K and a host of others through integrated ticketing companies around the world. Not a single ticket issued by the protocol has been scalped or resold outside the conditions set by an event organiser.
