Description
A ticket business working in a decentralized way.
Event tickets are certainly a good candidate for an NFT asset class. If you think about it, there are some problems in the current ticket selling ecosystem. For example counterfeits, massive transaction fees, and unregulated secondary markets to name probably the biggest ones.
These problems disappear if we create a decentralized ticket exchange platform and use smart contracts to govern our assets.
NFTs establish authenticity by construction because each token has a verifiable metadata and transaction log that can help prove the history of ownership. In addition, the blockchain provides the security for these tokens, keeping all this data safe and almost impossible to replicate.
Transaction fees can be neglectable if we use the right blockchain.
The tickets issuers can set precise terms for the secondary markets. They can make the tickets non-transferable. They can make sure that they can only be sold for a certain range of prices. They can build them in such a way that secondary sales redistribute parts of the earnings to the performers.
