BuzzCast raises $4.35m to integrate NFTs
The US-based virtual-events platform and Uber partner closed a $4.35m seed round
US-based virtual events platform BuzzCast has announced that it has closed a $4.35m seed-funding round to enable it to integrate non-fungible-tokens (NFTs) into its virtual events.
The round was led by Ayre Ventures and included participation from The Syndicate, a group of over 9,000 accredited investors led by American internet entrepreneur Jason Calacanis.
The NFT technology will be based on Bitcoin SV (BSV) blockchain and used mainly for ticketing and transaction. BuzzCast said the NFTs will also allow event hosts and sponsors to gamify the attendee experience in both virtual and hybrid events, enabling them to drive behaviour, reward visitors with prizes and incentives, and extend their interaction with guests before, during and after the event. All of this will be built on BSV.
Ryan Byrne, co-founder and CEO of BuzzCast, said: “Our vision is to make ticketing and transactions highly secure and non-fungible, so there is a clear record of all of the people who attended and the digital interactions that took place at a BuzzCast event.
“The BSV enterprise blockchain is known for its safety and security, low transaction costs and ability to scale, which make it a natural choice for what we want to build as the next generation of our platform.
"We are producing high-profile conferences and industry events where the interactions between attendees can change the world or move markets."
NFTs – BuzzCast’s new journey?
BuzzCast’s clients include global brands and organisations such as Anthem, The Bill and Melinda Gates Foundation, The World Trade and Tourism Council, Uber, Carnival and Just for Laughs.
“The low transaction price and large block size will enable us to turn content, rewards and contact information into micro-NFTs that visitors can collect and trade at will,” said the company.
Commenting on the funding round, Ayre Ventures founder Calvin Ayre said: “BuzzCast has uncovered an exciting market opportunity that has the potential to transform how virtual and hybrid events are produced, setting a new quality standard for sponsors and attendees.
“BuzzCast embodies the possibilities that BSV’s infinite scaling capacity offers to forward-looking enterprises."