Competitor Analysis: What Sets Backstage Apart
Leveraging the power of blockchain, NFT and metaverse technologies, Backstage is transforming how the events and entertainment industry works, with everything from a crypto wallet for businesses to funding Launchpad. We’re setting up an efficient, fair ecosystem and enabling a whole new degree of innovation to modernize the entertainment space.
Through the BKS Launchpad and STAGE platform, Backstage is also empowering the events industry to become financially independent (and not have to rely on banks for financing). Finally, the community can fund itself.
Of course, we believe Backstage is the perfect project to join and, as Ground Zero says, the next crypto gem. But we also understand that potential investors want to understand our competitive advantages.
So, we will do a competitor analysis in this article. We will point out who are our main competitors and pinpoint what are the main advantages of Backstage.
What Backstage brings to the table
Backstage is the first of its kind. We’re the first to introduce a comprehensive blockchain-based ecosystem for the events and entertainments industry.
First, we’ve created a dedicated ecosystem platform — THE STAGE — which is powered by a decentralized network and the BKS token. On the STAGE platform, everyone in the industry is brought together in one place.
In short, the STAGE enables fundraising campaigns, networking, merchandise sales, advertising, fan-artist connections and much, much more. It’s where industry players can connect with the right partners and find community support. From financing for new events to NFT drops directly to fans, the possibilities are endless here.
The STAGE is based on three main components:
1. The BKS Marketplace: Venues can sell NFT tickets. Artists and musicians can sell merchandise, NFTs, albums and more. Fans can buy tickets and access privileges.
2. The Crypto POS Wallet: Fans can make crypto payments at events and venues can accept BKS and convert to fiat with the BiKoS Crypto Wallet (the wallet’s official name). There will also be staking features for BKS holders to earn passive income.
3. The BKS Launchpad: The Launchpad will pretty much be our incubator and fundraising platform. It allows entrepreneurs and businesses to invest in specific events and other gatherings. Artists, venues, event organizers and other producers can also easily present their projects or events and get the necessary guidance and funding.
These components are the backbone of the Backstage ecosystem. Together, they enable an efficient, circular economy.
- Organizers can find funding for their event projects.
- Artists and fans can connect in more intimate ways.
- Investors can find promising events at the early stages.
- Fans get unique benefits, such as access to exclusive NFTs.
- It opens up new economic opportunities for all involved (musicians can list NFTs for sale, event operators can network with financiers, etc)·
To summarize, Backstage is pioneering the digital revolution in the events and entertainment space. The Backstage platform is an incubator, launchpad, NFT marketplace, social network, metaverse, crypto wallet and more.
Market Analysis & Main Competitors
There are several companies offering NFT Ticketing, fundraising and crowdfunding services.
On one hand, some of these companies offer similar services and can be considered as direct competitors as they also operate on top of blockchain-based technology. On the other hand, there are other companies in the events and entertainment industry that will compete with Backstage for business.
Below, we compare Backstage with five main competitors. While some are relatively new blockchain-related platforms, others are key players with several years of operation in the entertainment space. These are:
- Centaurify — A music NFT marketplace with NFT tickets and digital merchandise; main competitor on the blockchain space
- Kickstarter — World’s most popular fundraising platform; biggest competitor in the crowdraising, fundraising industry
- Audius — A blockchain-based streaming platform and decentralized community of artists, developers and listeners; competitor in the entertainment industry, especially with the social and community aspects
- Live Nation Entertainment — A global entertainment company and events promoter; competitor in the ticketing space
- Ticketmaster — World’s largest ticket marketplace; direct competitor in the ticketing industry
Market Analysis: Why Backstage Is Ahead of the Competition
Although Backstage presents an ecosystem with distinct options and unique features, it has several competitors presenting their own innovative features. Nevertheless, we believe Backstage is a much better option, and our analysis will show that.
Ticketmaster and Live Nation Entertainment represent the main competitors in the online ticket marketplace industry. These are popular companies with several years of experience. Despite all of this, these are corporate companies that can only count on fiat mechanisms and do not offer any payment options other than fiat.
Compared to traditional players like Ticketmaster, Live Nation Entertainment or even Kickstarter, by being decentralized, Backstage puts power back in the hands of the community and ensures a fair distribution of profits among the platform supporters and community. Plus, fans can pay in fiat or crypto, as well as access unique rewards and benefits through NFT tickets (which aren’t available through Ticketmaster or Live Nation)
As for Kickstarter, it is probably the biggest player in the fundraising industry. Kickstarter is a popular company in the space, but it has failed to stay ahead of the competition and still totally relies on the traditional banking system to help launch projects. Moreover, funding seekers, investors and other contributors are limited to fiat funding and need to pay for high company fees.
Contrary to that, Centaurify offers a completely decentralized alternative in the fundraising industry as they also use blockchain technology. Much like Backstage, Centaurify also built its own ecosystem to allow for innovative options for both supporters and artists. However, Centaurify does not provide a more intimate approach to producers and project developers as it lacks an incubation platform.
Centaurify and Audius are the two most direct competitors in the blockchain space. While Audius focuses on the social and community aspect in the events and entertainment industry, Centaurify offers a wide variety of services such as NFT ticketing and community artist support.
Backstage presents pretty much the same as Centaurify and Audius as it distances itself from the rest of the market competitors simply as it is specifically oriented to the event and entertainment space. Apart from that, Backstage allows for anyone to participate by owning the platform utility token and providing liquidity to the ecosystem and in return earning a passive income.
Another feature that makes Backstage better than other options is our staking & LP staking options. This feature allows for holders to stake their tokens. By doing so, holders are contributing to the ecosystem health by providing liquidity. Unlike other blockchain competitors, Backstage actually creates an incentive for someone to back an event or to hold and stake BKS tokens and be a part of the community. We also create an incentive for someone to start their projects and launch in the Backstage ecosystem.
We can proudly say that Backstage’s unique features, innovative ecosystem and token capabilities separate us from the rest of the pack. We’re also building a metaverse and NFT ticketing environment as well as a community-driven incubator and fundraising launchpad. No other platform has all these capabilities.
Simply put, no other platform is as technologically advanced and feature-filled as Backstage in the events and entertainment industry. We expect our strengths will help us succeed and truly usher in a revolution in the events and entertainment industry.
Backstage is powering the crypto revolution in the events industry. Through the BKS token and our blockchain ecosystem, Backstage aims to solve the current challenges facing the events and entertainment sectors. From financing and payments to NFT ticketing and marketplaces, Backstage $BKS will take the events industry toward a more sustainable, profitable and fair future. Backstage has a very strong and open community and everyone can join and contribute to the platform’s development by purchasing tokens and helping fund the entertainment industry.
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