 | In March Mark Cuban said that the Dallas Mavericks will start with NFT ticketing the upcoming season. With the start of the NBA season, we are seeing the first signs of mass adoption of NFT tickets collectibles in the NBA. This week Miami Heat announced that every ticket holder will receive a limited edition NFT of the FTX arena, after the ticket is scanned. When a twitter user called out Mark Cuban that he is suprised Miami Heat beat the Dallas Mavericks to NFT tickets. Cuban responded with a couple of tweets suggestion NFTs for the first Dallas Mavericks home game. Benefits of NFT tickets include: Collectible - Tickets become tradable digital collectibles (NFTs), with a variety of awesome possibilities for fans & event organizers. (most adoption of NFT tickets is currently happening in this area)) Increased profitability - Total control and insights over the primary & secondary market. Take in the profit that would have gone to scalpers. Unrivalled data - Clear, verifiable data on ticket ownership, vastly improving marketing efforts. Pre - financing events – using tickets as colleteral to finance events leveraging the benefits of DeFi and NFTs Cuban Cuban has said the Mavericks were trying to find a good option for turning our tickets into NFTs. He is interested in increasing the revenue from ticket sales and maximizing the experience for fan using NFTs. The possibillity to ask royalties on NFT tickets is a great feature to increase revenue from ticket sales by getting a royality on secondary market sales. Cuban noticed season ticketholders will sell their tickets for a few high demand to pay for their wholse season ticket package. With a royality fee on NFT tickets sold on secondary market sales, the Mavericks will profit aswell from secondary market sales. Adoptiong is already happening major ticketing companies like Ticketmaster and Seatgeek are actively working on implementing NFT ticketing. Ticketmaster recently launched a FAQ for its NFT ticket marketplace. Seatgeek hired a blockchain executive as VP of engineering and Seatgeek plans to roll out NFT ticketing for the NFL and NBA. Which projects are working on NFT ticketing? GET protocol – 50m usd (+- rank 600 coingecko) GET protocol has been working on blockchian ticketing since 2016 and had its ICO in 2017. GET protocol offers existing and new ticketing companies tools to easily implement NFT ticketing. GET protocol has recently crossed the 1 million NFT tickets sold mark. 9 ticketing companies are using GET protocols NFT ticketing solution so far. The recently announced YourTicketProvider, which sells 2 million tickets annually. What I really like is that all tickets can be tracked on NFT ticket explorer. https://explorer.get-protocol.io/ Furthermore, the tokenomics of GET protocol create value for tokenholders. Ticketing companies that use GET protocol for NFT ticketing need to buy GET from the openmarket. The GET tokens that paid for usage of the protocol get transferred to the DAO. Tokenholders decide what happens with the funds of the DAO (burn the token, marketing etc). This proces is currently done manually. Automated on-chain tokenomics is currently in the last test phasing and will likely be announced at the end of the month. A technical overview of the flow of tokens used as fuel for the GET protocol can be read from the link below. https://docs.get-protocol.io/docs/dao-token-economics-overview I am not aware of any other crypto projects with an own token that focus on NFT ticketing and have significant adoption. There are some projects without a token focus on NFT tickeing, like YellowHeart and NFT.kreds sources Miami Heat season opener Ted Leonsis https://sports.yahoo.com/ted-leonsis-sees-blockchain-future-095533212.html Mark Cuban https://finance.yahoo.com/news/billionaire-mark-cuban-wants-turn-151934328.html Seatgeek https://sports.yahoo.com/seatgeek-talks-roll-nft-prototype-095538749.html https://sporttechie.com/seatgeek-hires-blockchain-executive-as-vp-of-engineering/ Ticketmaster NFT ticket marketplace https://help.ticketmaster.com/s/topic/0TO6Q0000000xDgWAI/nft-marketplace-support?language=en_US Yourticketprovider news 2m NFT tickets https://www.iq-mag.net/2021/08/your-ticket-provider-nft-ticketing/ (ticketing magazine) Polygon partnership Chainlink VRF partnership [link] [comments] |
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