Create a LLC Immediately if Handling Personal Data?

Hi Everyone,

I'm creating a tool that helps businesses incentivize attendees at events to provide personal information in exchange for a prize. I've been beta testing my prototype at in-person events and have been getting good feedback. However, because I'm handling people's email, phone, or other information, there is a lot of liability that related to GDPR laws or a possible security breach. I'm not making revenue yet and might pivot, but am wondering if it's wise for me to open up a LLC to protect myself at this stage?

I've ready articles on IndieHackers that state it's not worthwhile to open up a LLC until you're generating revenue. However, because I'm handling people's personal information I think my business has more risk. I'm considering working with more brands which means even greater risk if I'm not GDPR compliant in a state or there is a security breach. Do you all think I should open up a LLC now or later when I'm making revenue?