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#NFT and ticketing is a match made in heaven. In fact I'm very sure that $GET's NFT's will be the most traded in the crypto space.
A short thread:
1/
this blog goes into detail: https://medium.com/get-protocol/the-desert-of-the-real-introducing-getnft-tickets-99a14e0b6951
A short thread:
1/
this blog goes into detail: https://medium.com/get-protocol/the-desert-of-the-real-introducing-getnft-tickets-99a14e0b6951
2/
First of all the ticketing market is huge!
The primary market is worth $46.6 billion.
The secondary market $15.6B (1.5x more than all the value locked in DeFi at this moment)
@GetProtocol intends to catch both
First of all the ticketing market is huge!
The primary market is worth $46.6 billion.
The secondary market $15.6B (1.5x more than all the value locked in DeFi at this moment)
@GetProtocol intends to catch both
3/
First of all #ticketing and #blockchain is a match made in heaven. The ticketing industry is plagued by foul players. Scalpers, bots, fraudsters, … it’s an every day occurrence in the industry. And the fans buying tickets are on the losing end.
First of all #ticketing and #blockchain is a match made in heaven. The ticketing industry is plagued by foul players. Scalpers, bots, fraudsters, … it’s an every day occurrence in the industry. And the fans buying tickets are on the losing end.
4/
the industry is everything but transparent. Literally no one trusts another party (in regards to how many tickets were issued, how many were resold for higher prizes, …). Blockchain offers a perfect solution in terms of transparency and thus accountability to all parties!
the industry is everything but transparent. Literally no one trusts another party (in regards to how many tickets were issued, how many were resold for higher prizes, …). Blockchain offers a perfect solution in terms of transparency and thus accountability to all parties!
5/
@GetProtocol is a perfect example in this case, proving that ticketing on blockchain is the future. They have sold 500k(!) blockchain fueled tickets and not one was scalped or used for fraud (simply because the system makes this impossible).
@GetProtocol is a perfect example in this case, proving that ticketing on blockchain is the future. They have sold 500k(!) blockchain fueled tickets and not one was scalped or used for fraud (simply because the system makes this impossible).
6/
It was great to see @VitalikButerin himself endorsing ticketing on blockchain a week ago! https://twitter.com/VitalikButerin/status/1309139288240553986
It was great to see @VitalikButerin himself endorsing ticketing on blockchain a week ago! https://twitter.com/VitalikButerin/status/1309139288240553986
7/
Now back on the #NFT case: @GetProtocol is almost done building the NFT usecase, which will change the entire industry for the better!
Simply put: every ticket will become an NFT and thus unique on the blockchain and allowing non custodial ownership of the ticket asset.
Now back on the #NFT case: @GetProtocol is almost done building the NFT usecase, which will change the entire industry for the better!
Simply put: every ticket will become an NFT and thus unique on the blockchain and allowing non custodial ownership of the ticket asset.
8/
This gives so many options:
it will allow p2p ticket trading. This means that the ticket resale will happen in a closed and regulated ecosystem. The event organizer can dictate the rules and even take a portion of profit for himself or the artist.
An extra revenue stream!
This gives so many options:
it will allow p2p ticket trading. This means that the ticket resale will happen in a closed and regulated ecosystem. The event organizer can dictate the rules and even take a portion of profit for himself or the artist.
An extra revenue stream!
9/ additionally NFT will offer a great #DeFi angle: event organizers often struggle to get financing for their events (not only your starting artists from around the block but even the big ones!) https://medium.com/get-protocol/decentralizing-event-financing-liquidity-x-defi-x-nfts-975f028135f5
10/
Artists have to pay upfront for all the venues they book, for the organization of the concerts, … while the revenue only comes weeks or even months later!
enter #DeFi: thanks to #NFT you’ll be able to prefinance events by investing in certain pools of tickets!
Artists have to pay upfront for all the venues they book, for the organization of the concerts, … while the revenue only comes weeks or even months later!
enter #DeFi: thanks to #NFT you’ll be able to prefinance events by investing in certain pools of tickets!
10/
you can choose to invest in less risky tickets (like kpop) or more risky (a new artist). This choice will obviously also affect the APY (more risk = higher returns).
This is #DeFi without inflation as the revenue for the investors comes from real usage/outside crypto
you can choose to invest in less risky tickets (like kpop) or more risky (a new artist). This choice will obviously also affect the APY (more risk = higher returns).
This is #DeFi without inflation as the revenue for the investors comes from real usage/outside crypto
11/
I myslf am extremely bullish on this project.
This flyer sums up in short what @GetProtocol is and what it does:
I myslf am extremely bullish on this project.
This flyer sums up in short what @GetProtocol is and what it does:
