Vylto is the new dawn for the creator economy with its full-service ticketing marketplace. The new startup is changing how things are done in the ticketing industry, restoring the connection between artists and fans. At the same time, Vylto is solving the longstanding stalemate between artists, ticketing websites, organizers, and other intermediaries. Even with ticket sales exceeding $15.2 billion in 2021 alone, the industry still needs restructuring. “It’s quite clear that the relationship between fans and event organizers is quite toxic in our current ticketing economy.”
Due to the disconnect, event tickets have been considered high-risk items by companies like PayPal, with ticketing sites receiving a lousy rep globally. The ticketing industry has also been plagued by false ticket sales and security issues, all leading to a widening gap that Vylto is now set on closing. With Vylto, people no longer need to worry about ticketing bots, internet scalpers, and other issues pulling the creator economy down. Vylto also extends its services to ensure that consumer data is not scattered everywhere, as is the case with ticket resells in the secondary market. The industry has experienced general disorganization, making it hard to know who will be present at events.
Therefore, Vylto was created as a solution to all the challenges in the ticketing industry by streamlining the processes. The platform, built on Solana’s blockchain, uses NFT smart-contract technology for transactions. “We keep things pretty simple with the industry’s lowest 1.5% transaction fee on every ticket purchase. You save money to create even more of what we love.” Vylto also understands the importance of helping creators reach the secondary market, which is why it offers up to 4.5% royalties on tickets resold through the Vylto marketplace. Vylto also prioritizes immersive audience engagement, ensuring fans can pay for tickets with crypto or traditional means to support their favorite artists.
“We designed Vylto to provide artists access to new creative revenue streams. By utilizing NFTs as infrastructure rather than a product, we don’t require fans to own a crypto wallet or even know what an NFT is. – You will be able to come to Vylto, buy tickets to see your favorite musician, and attend concerts with nothing more than an email receipt,” explained Bear Matthews, Vylto Co-founder, at the Vylto technology unveil at the SXSW. Matthew further explained that artists would also be able to enjoy many benefits, including intimate shows that don’t dig too deep into their pockets.
Vylto’s capabilities have been a welcome change for artists and fans, especially as musicians try to recover from the Covid-19 revenue hit. The platform also fits perfectly into the ongoing adoption of Web3.
About Vylto:
Vylto is a revolutionary platform co-founded by Adam Lovasz and Bear Matthews on 18th October 2021. Though relatively new, the startup has managed to shake up the ticketing industry, providing a much-needed solution for the creator economy. Vylto closed a pre-seed round at a $5 million valuation on 18th January 2022.
Media Contact
Company Name: Vylto
Contact Person: Dalton Letorney
Email: Send Email
Phone: +1 (781) 534-2728
Country: United States
Website: https://www.vylto.com
