Backstage Development Update: Marketplace, Financials, TGE & More
It’s time for a business update!
Since last year, we’ve completely built out the Backstage Marketplace, as well as sold NFT tickets for numerous big name events, notably Ha*Ash concerts, AFL MMA League memberships, Aspendos Theatre shows, Blue Marlin Ibiza, and Fight Academy Experience events with Kelvin Gastelum. We also sold VIP Experiences for Benny Dayal performances, which enabled us to gain market share in the huge Indian market. We’ve seen a positive response from various sports, music, and art fans, and the Backstage Marketplace is achieving a good reputation in the entertainment industry.
Backstage now has real business, with real services, products, revenue, and operations. Backstage is NOT a random crypto project that’s all hype and not much else. We have real cash flow, something most other crypto projects do NOT have. We’re not going to pump, dump, and say goodbye. We want to be around for a long time, and the building we’re doing now will set up long-term, sustainable success.
With that said, we do plan to hold our TGE soon, right after we onboard key partners and huge music tour events to our Marketplace. This will ensure maximum exposure for the Backstage project! Stay tuned to our social media, and in the meantime learn more about what we’re doing to ensure long-term business success of Backstage.
The Backstage Marketplace Is Working Perfectly
Backstage is far ahead where most other Web3 projects are prior to TGE. Our core product, our NFT Marketplace, is live already, and quite far along in development.
While still in Beta, the Marketplace is working perfectly and we’re continuously improving and optimizing the platform. We’ve already onboarded lots of partners seamlessly, and users can do the following with ease and almost no technical knowledge:
- Create a user profile
- Connect a crypto wallet
- Buy NFT tickets in a few clicks
We’ve even ensured the process is simple for non-crypto users. Users can buy NFT tickets with a credit or debit card right on our site.
- Try the BKS Marketplace yourself: https://bkstage.io/
Backstage Is Already Generating Revenue
If you’ve been around crypto for some time, you’d know most projects hype a product before its creation, sell a token to raise funds, then that token pumps and dumps. Eventually, the project dies out slowly.
It’s a story seen all too often. And failures are largely because either the project has a team looking to make quick money or a team not focused enough on the actual business. They never even start generating real revenue.
We’re taking a different route at Backstage. We’re fully focused on proving out our NFT Marketplace and business model. That’s why, before we even hold our TGE, we’ve spent a year building the business, generating real revenue, onboarding clients, attracting users, and generating revenue.
For each NFT sold on our Marketplace, we receive real revenue. Consistent cash flow ensures we can continue to function and achieve our goals. This money supports our operations, helps us expand, and will help us deliver Entertainment 3.0 to the mainstream.
BKS Tokenomics, Especially Buybacks, Should Support Long-Term Token & Business Health
In 2022, we decided to postpone our TGE. The postponement was partially due to external market conditions, but also because we wanted to develop our NFT Marketplace and begin generating real business revenue. We do plan to launch the token soon, so stay tuned for that announcement.
If you’ve followed the Backstage project, you’ve probably already read about the BKS token. As our native token, BKS will help power our Entertainment 3.0 ecosystem, function as a means of payment, and deliver a myriad of benefits to users.
It’s important to note that our funding partners remain by our side, and have been excited to see our progress in strengthening our community, developing our technology, and attracting new partners and users.
Plus, BKS tokenomics remain ready to help our ecosystem thrive through:
- Automated BKS token buybacks using our business cash flow
- Seamless crypto payments for the entertainment industry (finally)
- Attractive benefits for business and retail users
- Use in the metaverse and real-world events
The automated token buybacks are especially notable for those awaiting our token launch. Backstage token buybacks will be financed by real-world cash flow, creating buy pressure for the BKS token and helping to support the long-term health of the BKS token.
The chart here sums up the token buyback process:
- Read more about BKS token buybacks here: https://bksbackstageofficial.medium.com/how-backstage-token-buybacks-can-support-long-term-value-4db9cb8a3e81
Stay Tuned! Our TGE Is Soon
Our social media channels and website will have the update when the time comes. In the meantime, stay tuned to what Backstage is doing, and attend a concert, art show, or sporting event. Our BKS Marketplace is live with tickets for all sorts of events: https://bkstage.io/