BKS Backstage (BKS)

BKSBackstage (BKS)

Summary

Backstage aims to create value for traders who wants to take advantage of the ever-growing event market valued at $1.135 trillion in 2021 and having a projected value of $1.457 trillion by 2028. BKS Backstage sounds more like the name of a Hip-hop group than a cryptocurrency project, but it is a crypto project. The Estonia-based project is on a mission to innovate the events industry, making it more accessible, less expensive, and also digitized. To achieve this, the project intends to power the events industry with the BKS utility token and blockchain technology. BKS also intends to solve logistical challenges by issuing tickets via NFTs and digitizing events. The BKS mission is conceptualized on the backdrop of the potentials abound in the events industry, which is projected to reach 1.4 trillion dollars in 2028. It hopes to capture a sizeable chunk of this market.

The project since its launch in 2021 has been walking the talk. It has entered into partnerships with hundreds of nightclubs, sporting outfits, hotels, and artists globally. Martin Garrix and Placido Domingo, a Spanish Opera Singer are some notable artists partnering with BKS.

Besides the partnerships, BKS also has an array of features built into its ecosystem to complement service delivery. The BKS metaverse is a venue for virtual and hybrid events, while the BKS wallet integrates crypto payment for services. There is also a launchpad for fundraising and an NFT ticketing feature.

The metaverse boom in 2021 led to a frenzy of new crypto projects offering a platform for virtual events. Bored Ape Yacht Club is one of the most notable ones, but BKS stands out by combining both virtual and physical events.

Utility

Backstage has several utilities. They include;

• Metaverse Meet-up

Backstage is helping the music and event industry have their share of the web3 cake. They aim to achieve this by using fungible and non-fungible tokens to allow users to access events in the metaverse.

• Point of Sale for businesses

Their point-of-sale system allows businesses to access crypto at any time, which gives them a buyback on their token, ultimately preserving its liquidity.

• NFT Ticketing System

Their integration of NFTs and ticketing solves the problem of fake ticketing. This is a unique advantage for backstage because fake ticketing has always been rife amongst eventgoers.

• BKS Launchpad

Backstage partners with organizers, venues, and investors in the music industry. The BKS launchpad is a crowdfunding platform for music folks who need low-barrier access to funding.

• The Stage

The stage will function as a meet and greets for artists and fans in the backstage ecosystem. Through these events, creators and artists garner more exposure; venues attract talents, help producers secure funding, and help fans bond with their favorite artists. This way, everybody wins!

9.4

Roadmap

Backstage BKS has only released its roadmap and ambitions for 2022.

Since their launch, they successfully conducted their public IDO and brought some other visions to life.

Going by their goals for Q4, the team is working on integrating backstage on other popular blockchains like Solana, Polygon, and Ethereum. They also plan on developing on the Near protocol.

5.2

Partners

Since its launch, they have been able to form a long list of partners within and outside the industry.

They have been able to score big names in the crypto industry as their partners. Some of these of their popular partners include

• Blue Marine Ibiza

• Society Icons

• TrustFi

• Coinmarketcap

• Enjinstarter

• Near Protocol

They are also partnered up with celebrity artists like Placido Domingo, Fire of Anatolia, Gipsy kings, and many others.

Despite the long list of partners, the team still has many partnerships to make for Backstage to achieve mainstream usage.

7.9

Leadership/Management

You can give it to Backstage when it comes to team building. They have subject matter experts with practical experience and success in their fields.

They’ve got a team that’s a hybrid of people who are investors in the crypto industry and those experienced in the music industry and blockchain development.

The advisors are also hybrids of industry leaders in the music industry, the events industry, marketing, and people who can have a firm grasp of cryptocurrency and web3.

8.4

Ecosystem

The ecosystem is robust and will take years of consistency to pull off. It consists of an NFT marketplace where you can trade loyalty NFTs, a launchpad, a proof of stake wallet, liquidity staking with your token to earn interest, and a token buyback and burn mechanism.

Backstage started on the right foot. They should partner up and integrate with other blockchains to maintain their growth rate and eventually become an industry leader.

7.9

iRankCrypto Overall

7.7

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*Each rating criteria is ranked out of 10. Overall ranking is determined by the 5 subjective variables (Utility, Roadmap, Partners, Ecosystem, Staking)

Disclaimer:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.