A look at what's been cooking during the month of April
It’s that time again! April is coming to a close, Spring is slowly dissolving into Summer, and the events are heating up. More people than ever are talking about NFT ticketing and the space is set to become one of the next major evolutions in validating this unique technology. And, as always, GET Protocol is leading the charge. Let’s take a quick look at what’s been going on of late.
We are proud to announce our latest product: event financing.
The ticketing game 2.0 is littered with politics and money. Oftentimes the privilege to sell tickets is forced upon organizers (content creators) through vertical integration of the value chain. If that isn’t the case the decision is made based upon who can put money on the table. Therefore, to become the data standard, GET Protocol needs to remove the barriers of politics and money by providing tools to democratise the value chain and being able to fund those ambitions.
When push comes to shove it’s the content creators who bring in the crowds and thus should have the ultimate authority. Unfortunately a lot of effort has been made to make sure content creators can't act as such. By enabling content creators to sell their own tickets, monetize the secondary market and own their data to build communities in a transparent way, we've laid the groundwork to release the events industry from the political iron grip of monopolistic players.
Now GET Protocol introduces the next piece of the puzzle for creators to finally act independently and bring ticketing to the next level. In case you were wondering, 3.0 that is.
Today we announce democratising event finance with DeFi, allowing independent players to access the liquidity of the worldwide DeFi market and not be dependent on the powers that be to make events happen. By tokenizing future revenue of events we truly bring web 3.0 to the industry and remove the most important barrier for democratisation. Creators are no longer dependent on a boardroom decision if their careers will take off, now they can put money where their mouths are, quite literally.
Event financing will soon be available for all our Ticketing Partners. This means ticketing companies, promoters and artists who wish to sell tickets under their own banner. To begin with we are launching the module through a curated Wait List.
This is a huge step forward in harnessing the full power of DeFi liquidity to offer financial tools to independent organizers.
Over the next few weeks you will hear more noise about the product but for you can read all the details on the new product page.
You can also read further on the technical implementation of this release here.
In November last year we released our NFT Ticket claim functionality, which allows event attendees to enter their public wallet address into our white-label mobile application in order to claim their ticket post-event.
This functionality opens the doors to the world of Web3 for everyday people and allows an NFT Ticket to not only serve as a collectible but act as a membership access token into an artist, event organiser or ticketing companies digital community.
Yet even with this incredibly exciting capability available, we know that the hardest step is to provide accessible and warm introductions into the post-event benefits of NFT Ticketing both for the attendee and the organiser.
Over the last few months we’ve been setting our sights on providing educational resources for all parties in the event chain and laying the tracks for clear use cases that showcase the benefits on offer.
Today, we are incredibly excited to be revealing our first full use case for the collectible side of NFT Ticketing, which we’ve nicknamed - Evolving Collectibles.
Evolving collectibles represent a new way for an event organiser, artist or team to bring fans further on the event journey through a form of collectible storytelling.
Everyone understands the sentimental attachment that a physical ticket stub can provide and an NFT Ticket is capable of not only replicating that feeling but turning it into a dynamic experience that fans and event organisers can share.
As NFT Ticket imagery is stored off-chain and referenced in metadata, it becomes possible to change the NFT imagery to correspond with certain actions and trigger points for events. This ‘Evolving’ process, provides fans with an exciting new moment in the event experience and gives new life to the idea of cherishing an NFT Ticket post-event.
For event organisers, this process becomes a new activation moment in which they can relight fan engagement as an NFT Ticket evolves.
To kick off this collectible use case, we are happy to announce GUTS Tickets has partnered with the Dutch basketball team Heroes Den Bosch that will see them ticket the home playoff games and subsequent season of Den Bosch over the next year.
This will not only be the first ever sports game to have native NFT Tickets but will also be the first pilot usecase for our evolving collectibles.
Each Den Bosch NFT ticket will have a base collectible in the form of a Heroes Den Bosch card back which can be claimed when an attendee’s ticket is scanned. Once the game ends and the results are known, the claimed collectible then evolves post-match to display the outcome of the game along with a key highlight play.
Check out the trailer & find further information (in Dutch) available on the new dedicated heroes GUTS website.
To help attendees claim their ticket, we’ve released educational guidance in Dutch on the Heroes website. The first part - creating a cryptocurrency wallet using Rainbow, a user friendly mobile crypto wallet is available in English via video here:
This was a big month for the DAO behind the scenes and we can’t wait to share our vision in full. The final draft for the design architecture of the DAO has been submitted to our dev team for review, initiating a step in taking the concept from theory, to reality. We are constantly looking for ways to empower our community in this process, and we’ve been taking polls and listening to the ongoing discussions from members as direct influence to our design choices. We are also very excited to announce the introduction of our bounty dashboard where we will be posting an assortment of gigs that can be performed to claim some $GET as payment. This is a vital step towards enabling our community with the tools to actively participate and help to build the ticketing company for you, the people, not big tech.
If you’d like to participate in the future of event ticketing by taking part in the development of our DAO, then join our vibrant and growing Discord community and verify your wallet.
GET Protocol’s Olympus Pro bonding program is now live on Ethereum mainnet! This enables even broader access to the bonds and is another step taken towards GET Protocol taking back and owning its own liquidity. This update will ensure that there is deep enough liquidity available at all times, across multiple chains, to handle whatever events are thrown at it. For more details on how this works, as well as further information on the announcement blog.
Head over to Olympus Pro to access the bonding program.
Guidance on using Olympus Pro is available through our FAQ.
For those of you keeping an eye on the #technical-discussion channel over on Discord it won’t come as a surprise to see that we’re approaching a release of the biggest rework of the core smart contracts and Ticket Engine APIs. It’s a massive overhaul built for scalability and will allow us to state, with confidence, that we’re ready to service the ticketing volume of the world. This really is no mean feat and although this release has taken some twists and turns we’re very excited for the opportunities this opens up.
There’ll be a more in-depth blog on this as we get there, but as a sneak peak here’s a direct quote from one of our engineers, just today:
Performance looks really solid on Mumbai, we could beat our current mainnet best (about 20000 interactions in a day) in about 10 minutes. I am really curious to see the mainnet performance, but testnet results look promising.
GET Protocol has always been serious about building the infrastructure layer needed to put every ticket on the blockchain, and this takes us leaps and bounds in that direction so keep an eye out for further updates.
As the largest NFT ticketer using Polygon for our backend, we want to give a shoutout and some special thanks here to their team and all the work they have done to meet sustainability goals. In case you hadn’t heard, Polygon is now a carbon neutral chain, an amazing achievement that pushes the technology forward yet again and empowering GET-Protocol to operate in an ecologically sustainable manner going forward.
We hope you’re as excited about the future as we are. There’s some really incredible things we’re looking forward to sharing on the horizon as our collective vision for a sustainable, democratized future for event ticketing comes to fruition.
Since 2016 we have been building ticketing infrastructure powered by the latest technology to upgrade the experience for all in the ticketing chain.
Ticketing companies of all sizes use our infrastructure to get clearer insights, generate greater revenue and maximise the connection through their tickets.
Keep up to date with GET Protocol on social media via our Twitter.