Future Venture
Published in

Future Venture

Backstage Private Round Launch on Lithium

Entertainment 3.0

Highlights

  • Metaverse Events
  • Artists in Ecosystem include Bruno Mars, Kiss, and Martin Garrix
  • Crypto-compatible PoS System
  • NFT Ticketing
  • Event Fundraising
  • Wallet Provider for Events Businesses

Introduction

The times of lavish parties, financed by financial institutions and banks, are distant memory. Nowadays, average events companies struggle to finance themselves in capital markets due to the markets perceiving entertainment and events as high-risk industries. This problem is exacerbated by the recent pandemic. Furthermore, the events industry has been sluggish to digitise and innovate. Enter Backstage, introducing an innovative technological ecosystem that makes the entertainment industry more sustainable, resilient, circular, and profitable.

Product

Backstage’s vast product offering includes the following:

  • A BiKoS Wallet, which seamlessly and securely integrates crypto into business operations and can be used to buy and sell BKS tokens, and mint and store BKS NFTs.
  • The BKS Metaverse, which enables universal access to Metaverse event venues, from stadiums to concerts. Host hybrid events, meet artists, follow your team & more.
  • Its own Point of Sale (PoS) System, which allows businesses to accept crypto anytime, anywhere, while also obtaining instant liquidity through $BKS token buybacks.
  • NFT Ticketing, which provides innovative and lucrative opportunities for venues and artists to connect with fans and spectators.
  • A fundraising platform for the events industry, connecting event organizers with venues and investors.
  • Its own marketplace—The STAGE—which enables album releases, NFT ticket sales, and even networking & dealmaking.

Problem

  1. The event industry has little to no financing options in capital markets, as traditional investors deem the industry too risky. However, efficient markets should create financing opportunities with payouts reflecting risk.
  2. COVID further exacerbated the industry’s struggle to generate financing options. As a result, many businesses either fail to survive, or consumers carry inflated costs to attend events — either way, creating inefficiencies.
  3. Low level of digitization & innovation in the Event Industry; bureaucratic walls: low margins in a competitive Industry. How to finance the Event Industry, given the global status quo?

Solution

Backstage provides the event industry with new technologies, driving digitisation and increasing financing capabilities. Backstage’s main focus includes the development of an NFT ticketing platform, new business models in line with tokenisation, and improved channels for raising funds for events through its own raise platform. Most importantly, Backstage is building a community, which empowers the industry by financing, attending, or supporting events.

Token and Vesting

Backstage’s $BKS is a multipurpose token that will, on one hand, be used to finance events for nightclubs, concerts venues, festivals and sports teams. On the other hand, $BKS will also serve as a means of payments at said events. Backstage is also currently eyeing the development of its own stablecoin to further minimise risk for liquidity providers within its ecosystem.

The BKS token is deflationary, that operates through three separate mechanisms.

  1. BKS Staking: holders who provide liquidity are rewarded from the distribution of distributing fees and revenues.
  2. BKS Burn: when venues accept $BKS tokens, a portion will be locked in a smart contract and later burned or utilized to support the ecosystem.
  3. BKS Buyback: each venue has a BKS staking and buyback agreement to support partner liquidity and create token buy pressure. Backstage already has millions in revenue committed, which will result in large buybacks.

The BKS token will be vested under the following regime: 7.5% release on TGE, rest 12 months daily.

Private Raise Details

Date: Wednesday, June 15th: 18:00 BST — Thursday, June 16th: 18:00 BST
Total Raise: $50,000
Private Price: $0.015
TGE Price: $0.02
Vesting: 7.5% TGE, rest 12 months daily
Mcap at TGE: $325,000

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store