Using BKS Token for Fun: Hotels, Vacations, Clubbing & More

Backstage aims to revolutionize the industry, and the BKS token is a big part of that mission. We know you may be interested in the utility and potential value of the BKS token. This is why we’ve taken the time to put together this guide on what the BKS token is and what you’ll be able to do with it.

We’re going to cover how and where you can use the BKS token, as well as the benefits of using it. We’ll also discuss some of the potential advantages of the token in the future.

What is the BKS Token?

The BKS token is the native token for the Backstage ecosystem. If you’ve read through our website or Medium articles, you’ll know we’re a project that powers hundreds of nightclubs, concert venues, festivals and sports teams with blockchain, crypto PoS, NFT ticketing and metaverse technology.

We aren’t just talking about changing the way the events and entertainment industries are run.

We’re already doing it.

The BKS token will play a big role at events as both a source of funding and a decentralized currency that can be used at all Backstage events in lieu of other currencies. As well as paying for access to events with the BKS token, you’ll also be able to pay for accommodations, refreshments, and more at the events themselves.

As you can see, our tokenomics not only include buybacks, burning, staking and instantaneous liquidity, but we’ve also ensured the BKS token is the primary way you spend money at Backstage and partner events.

What Can I Do With the BKS Token?

Backstage is already cementing partnerships with some of the top names in the entertainment and hospitality industries so that our investors and community can use their tokens to their benefit when they travel or attend events.

For example, Backstage has partnered with the Ahau Hotel in Tulum, Mexico, Paradise Island Beach Club in Turkey, Romania’s Entertix (the main ticketing provider), and more.

All of these businesses will use BKS as a valid method of payment, allowing you to leverage your tokens so that you can have a night that you’ll never forget. As time goes on, more and more of these businesses are implementing ways that you can pay on-site with your BKS token, as well.

Here are some more partners that will allow you to use your BKS tokens to pay:

Using the BKS token, you’ll be able to pay so many unforgettable things, such as:

  • An all-inclusive vacation to Mexico, Turkey and beyond
  • Attend electronic music festivals around the world
  • Concert tickets for famous artists like Sting, Martin Garrix, and KISS
  • Art festival passes to see the works of Warhol, Banksy and other famous artists at art festivals across Europe, North America and beyond
  • Club table bookings for your weekend fun and private events
  • Metaverse events hosted in cooperation with our partner, XMANNA
  • Tickets and passes to sports events — from soccer and football to F1 racing and skiing
  • Entertainment packages for special experiences with our partners around the world

As you can see, when you have the BKS token in your wallet, there’s no limits on the amount of fun you can have.

The BKS token enables payment transparency & eliminates the need for currency exchange

Unfortunately, the economy of the events industry is currently centralized, making it difficult for people to understand where their money is going and what’s being done with it. This also creates a lot of risk on the part of the event organizer, as their money is often tied up in red tape until they know whether or not the event was a success.

BKS is a method of decentralizing the events economy and making it more transparent for the people involved. By ensuring that each transaction is on the blockchain, the speed of monetary exchanges can be increased and both parties will know where the money is going.

As for the event attendants, things will be made easier for them since they won’t have to worry about international currency conversion. If you make a habit of attending events around the world, then you’re likely sick of having to convert your currency every time that you go to an event in a different country.

If you’re able to purchase your event tickets and pay for anything at the event in BKS tokens, you’ll be able to save money on conversion fees. You also won’t have to pay for any international transaction fees or withdrawal fees that your bank would otherwise charge you when you’re overseas.

BKS Token Advantages

There are also a few key advantages to the BKS token itself, so we’re going to look at some of the key ways that it can impact the events industry. These advantages include a reduction in the scope of ticket fraud and scalping, the facilitation of event management, and making the event experience more straightforward.

Reducing Scalping and Ticket Fraud

If an event insists that their tickets be paid for with the BKS token, they can ensure that each ticket is an NFT that will be easier to keep track of after sale. These ticket NFTs will ensure that tickets are not resold after purchase for a markup, allowing the people who want to see the show to pay a reasonable price for it.

This will also help make ticket fraud less prevalent, as you will be less likely to receive a fake ticket if you’re buying it using your BKS tokens through the proper source. On the other hand, using fiat currency for tickets makes scalping all that much more likely to occur in the first place.

Events Are Easier to Manage

Since transactions will be kept on the blockchain if you’re using BKS tokens as the main method of payment for your event, it will be a lot easier to keep track of an event’s books. Everything will be kept organized for you and your accountants can easily ensure that everything is in order when you’re organizing an event.

Event organizers also won’t have to worry about converting different forms of currency to make sure that they’re making enough money and they’ll have to deal with fewer processing fees. Instead of paying credit card providers exorbitant fees, event organizers will be able to manage their own revenue through the blockchain for free.

This also benefits event investors. They’ll have a clear view of event finances and revenue, as well as the potential to earn more return thanks to less fess.

Things Are Simpler for Event Attendees

Payment can become a lot more seamless if the BKS token is integrated into an event. For example, attendees can simply wear a wristband that uses NFC (Near-Field Communication) so that attendees can load up their wristbands with BKS and pay for goods and services using it.

Being able to pay by simply swiping a wristband will make attendees less likely to lose valuables like wallets and credit cards over the course of an event, especially three-day long festivals and other intense events.

Conclusions

BKS is a promising solution to many of the issues that are currently holding back the events industry. By making things easier for both attendees and event organizers, BKS can help ensure that payments are processed more smoothly, events are less of a risk to their organizers’ finances, and that the experience is more streamlined for guests.

About Backstage

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.

Find out more about Backstage:

Twitter | Medium | Telegram | Instagram | Whitepaper

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The Crypto Revolution in the Event Industry

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