Satlantis has introduced a Bitcoin-centric platform for events and ticketing that incorporates Lightning wallets directly into both user profiles and event pages. This innovation enables organizers to issue tickets and accept payments in Bitcoin, bypassing the need for conventional payment processors.
As detailed in a statement shared with Cointelegraph, Satlantis operates similarly to platforms like Luma and Eventbrite by providing features such as tiered ticket options, attendee tracking, and dedicated event pages. However, it distinguishes itself by automatically creating a unique Bitcoin (BTC) wallet for each event to streamline direct payments and withdrawals.
The platform also supports fiat transactions through integration with Stripe and plans to introduce stablecoin compatibility soon. This will allow event organizers to receive payments in Bitcoin, traditional currencies, or both via one unified interface.
According to Satlantis’s crowdfunding campaign information, notable investors include the Bitcoin Opportunity Fund as well as Timechain Capital—a venture capital firm focused on advancing Bitcoin infrastructure projects.
Leveraging Lightning Network for Reduced Fees
The company emphasizes that its approach aims at lowering ticketing costs while broadening accessibility in areas where standard payment systems are limited. It achieves this by utilizing the Lightning Network on top of Bitcoin’s blockchain technology to facilitate inexpensive cross-border transactions.
The Lightning Network is a second-layer protocol built atop the Bitcoin blockchain designed to accelerate transaction speeds while minimizing fees by handling payments off-chain before settling them on-chain later.
Recent statistics referenced by River’s marketing director Sam Wouters reveal that November saw approximately $1.1 billion worth of transactions processed over 5.2 million operations using this network.
Source: River
Related: The actual number of people paying with Bitcoin — real-world applications unveiled
The Growing Influence of Cryptocurrency in Ticketing & Live Events
The integration of cryptocurrencies into ticket sales predates many modern Web3 initiatives; sports franchises along with travel companies have been experimenting with digital asset-based payments for over ten years now.
A pioneering example occurred when the Sacramento Kings became the first NBA team accepting Bitcoins for tickets and merchandise back in 2014. Later on, Dallas Mavericks followed suit around 2019 after owner Mark Cuban announced intentions supporting crypto purchases—enabling fans eventually buy game passes using BTC directly.
Apart from merely accepting crypto payments at checkout points during events, several blockchain ventures explore innovative methods related to financing live experiences plus automating settlements afterward. For instance,TIX—the settlement network developed by KYD Labs—seeks transforming tickets into tokenized assets representing real-world value which can be leveraged upfront capital injections alongside automated repayment mechanisms embedded within smart contracts .
Larger sports organizations have also tested out products linking tickets with blockchain technology innovations; FIFA—the worldwide soccer authority—has trialed non-fungible tokens ($NFT) connected specifically toward their tournaments’ ecosystem. ) associated directly tied exclusively linked solely uniquely verifying ownership authenticity provenance uniqueness scarcity digital collectible tokens secured immutably recorded distributed ledger system based cryptography encryption algorithms ensuring trust transparency immutability permanence longevity security authentication verification exclusivity rights usage privileges benefits advantages perks access participation engagement interaction community membership fan base support loyalty rewards incentives bonuses giveaways promotions contests competitions challenges experiences memorabilia collectibles souvenirs artifacts relics historical items limited editions rare pieces exclusive content behind-the-scenes footage interviews 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