The Backstage IDO Is Delayed, But It’s for the Better. Here’s Why We’re Waiting
As you know, we’ve been doing a lot in the build up to our launch. From making partnerships with the likes of UFC fighter Kelvin Gastelum to a planned integration with NEAR Protocol, the Backstage project has a ton of momentum.
We’ve received investments from numerous funds, including AB Ventures, Sheesha Finance and Alpha Crypto. We’ve also added more great partner venues, such as Aspendos Theater in Turkey and Ziggy’s Beach Club in Tulum, Mexico. Artists in the Backstage ecosystem now include big names like Martin Garrix, Kiss and Guti.
All these partnerships, investments and business relationships are a testament to the quality of the Backstage project. People see the potential of our vision to bring the crypto revolution to the events industry, and they’re seeing the progress we’ve made.
We’re already realizing the fruits of our labor. And we’re confident Backstage will revolutionize entertainment and enjoy long-term success in the crypto and events sectors.
With all that said, external market conditions do impact the timing and the speed of development. So, we’ve decided it’s in our best interests as well as the entire community to move the IDO date back a little.
- The Backstage IDO will be delayed. We’ll announce the new IDO date soon, so stay tuned to our social media channels.
In the long run, this decision will benefit the Backstage project and you — our community members. To be fully transparent, we’ll explain why delaying the IDO is the right decision at this time.
We’ll continue to develop
First, we want to deliver you a platform of the highest quality.
At Backstage, we’re not going to rush to market and then fail to deliver, like so many other projects have. We’re going to be thorough and ensure everything is ready before we take our blockchain-powered platform to the wider market. We’ve decided to take a bit more time for our team to prepare for the IDO.
We’ve already done a proof of concept for our NFT ticketing. Very soon, we’ll launch the BKS Marketplace and integrate NFT ticketing with partners. In Q3, we’ll unveil the BKS crypto PoS and BKS Launchpad, as well as begin staking and LP staking.
Our development timeline puts us far ahead of other projects. By the time we do hold our IDO, we’ll have a fully operational platform with revenue coming in. How many other projects can say that?
We can wait for more favorable external conditions
Given the recent Terra Luna collapse, rising inflation, a continuing pandemic, geopolitical issues and other external conditions, the market situation isn’t good right now. However, we’re confident Backstage will perform just fine. After all, the entertainment and tourism industries are picking back up, and Backstage is bringing in revenue in these sectors with blockchain-powered solutions.
With that said, we believe it’s important to hold our IDO when conditions are optimal. Conditions are NOT optimal by any means right now. With so many great investors, partners and clients, Backstage is in healthy shape and can wait out this market downturn with ease. Once the market comes back, we’ll be in an even stronger position to hold our IDO.
We can shift the IDO closer to the listing date
We have listing agreements set up with major exchanges. We’ll announce these soon. The listing dates will be set soon as well.
By pushing back our IDO, we can schedule everything so that there is no time gap between the fundraise and listing. This way, investors in the Backstage project can enjoy maximum liquidity with their BKS tokens. Right after the IDO, you’ll be able to move BKS tokens to their preferred exchange if you wish.
We can generate business revenue
While we wait to hold our IDO, we will deploy our DApp. With our platform live, we can begin generating revenue with our solutions and business relationships. From NFT tickets and collectibles to our crypto payments system, we’ll generate cash flow in a variety of ways.
By the time we do host our IDO, we may already be a profitable business. The ability to show potential investors actual financial reports is something few other projects in crypto can do, especially before the public token sale.
Backstage Is Still on the Path to Greatness!
For all these reasons, we think this delay will be beneficial for us, the investors and you, our community. We hope you’ll understand the reasoning behind this decision.
As we continue to develop our product, market the business, and strengthen our community, we want to remind everyone this: The IDO delay changes nothing.
Backstage is still well on our way to bringing the crypto revolution to the events industry. We’re already powering hundreds of nightclubs, concert venues, sports teams and festivals with blockchain, NFT ticketing, crypto payments and metaverse technology.
The future of events will be powered by blockchain. And Backstage will lead the way.
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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