A demo event is limited in usage time, but is free. You'll be able to create rooms and invite your friends to check out Yaatly with you (just share your demo event's URL!). Each person is limited to only 10 minutes of video usage. After your 10 minutes has expired, you can still join a room but you'll be booted back to the lobby after 30 seconds.
A live event is what you'll use to host a competition on Yaatly. You can define the dates and times of your event, invite other organizations to register for your competition and have unrestricted use of Yaatly's organizational tools and video rooms. At the end of your event, you'll receive an invoice for your usage. For more details on pricing, please visit our pricing page.
And by the way: your live event automatically includes a demo period that your invited participants can use to test out the platform before the competition. Just share your Event Invitation URL with them and they'll have 10 minutes of video time to get familiar with Yaatly before your event begins.