January 28, 2022
The USD 70 Bn global Ticketing Industry is plagued with multiple inefficacies. Tickets have become so boring that it is meant to be discarded after use. There is no platform that manages the entire life cycle of tickets and addresses the pain points of all
the stakeholders. Annually USD 15 Bn is wasted in scalping of tickets. The Web 2.0 ticketing giants have become monopolistic in their respective countries and follow exploitative practices. There is no integration between ticket buyers and advertisers. Though USD 65 Billion globally is spent per annum by sponsors on events, they lack basic data about the ticket buyers.
ABOUT BLOCKTICKETS IN SHORT:
BlockTickets creates transparent and decentralized system for creation and sale of
smart tickets using block chain technology. BlockTickets supports in managing the
entire life of tickets by integrating all stakeholders from artists, event- organizers,
financers, initial tickets buyers, secondary ticket buyers, fans and advertisers.
- Each e-ticket is verifiable and unique.
- Event organizers can create smart contracts in the tickets to set their floor price, ceiling price and Royalties whenever the ticket changes hand.
- Event organizers can finance their events through pre-sale tickets to investors.
- Advertisers can engage with the ticket buyers with the Tokens and Propriety Wallets.
- More revenue channels can be created by personalizing the tickets as special NFTs thus making them unique.
- With secondary market in place buyer will have the access to resell their tickets in order to change, cancel or just to earn money.
- After the event, the buyer can store the ticket as a Collectable NFT.
NEW LIFECYCLE OF TICKETS WITH BLOCKTICKETS:
(i) Event Organizer > (ii) Blocktickets > (iii) Tickets are minted as NFTs > (iv) Value is added to the Tickets as Special NFTS to make it scarce > (v) Savy investors Bulk Buy the Tickets and Provide Finance to Event Organizers > (vi) Primary Ticket Buyers> (vii) Secondary Ticket Buyer from Primary Buyer > (viii) Advertisers Issue Tokens to Wallets with Brand NFTs > (ix) Event is Live and then Expires > (x) Ticket is a collectible NFT in the wallet of Last buyer
PHASE 1 (ACHIEVED):
-Beta version of Product is ready that mints NFT tickets fro event organizer and allows Ticket Buyers to Buy and Resell Tickets
- Smart Contract Audited
PHASE 2 (IN PROGRESS TO BE COMPLETED BY 30th MARCH 2022):
- Certik Audit is required (this is costly and needs USD 20K per audit)
- Onbaord Event Organizers in Dubai, London and miami to showcase that event organizers can 3x thier revenue with blocktickets.
- PR and Community Building
- Hire Event and Tech talent
Phase 3 (FUTURE: 01.APR.2022 to 30.JUN.2022):
- Making Own NFT Marketplace for Tickets
- User-generated events functionality like Eventbrite
Phase 5 (FUTURE: 01.JUL.2022 to 30.SEP.2022):
- Multi-chain capability - extend to other EVM and Substrate Blockchains
- Building Community
- Team Expansion
- Event Organising and Advertising Partnerships
- Making Propriety Wallets with Data Analytics for Targeted Advertisements