The market for the digital items plummeted after their glory days in 2021 and 2022, and they’ve proven to be not only an artistic and aesthetic disaster, but a shortcut to financial ruin
Ack. I’m not going to pretend like I’ve thought up the whole business plan, but it’s well known the centralized ticket agencies have huge markups. Ticketmaster’s ticketing business is something like $3B in revenue with $1B in profit.
I’m sure there’s still a need venue services, I didn’t mean to suggest the venue could or want to be entirely in-house. Maybe I’m minimizing that part of their business, but if tickets are NFTs it’s so much easier to avoid vendor lock-in for expensive scanners and day-of services.
A database indexing scanned tickets is cheap if you don’t want to burn/transfer the NFT at the door (depends on the network costs too). But again maybe I’m trivializing what Ticketmaster does (IMO I don’t think I am).
But Blockchain/NFTs solve the easy part of the problem that is already sufficiently solved with a database. Now you’re suggesting using NFTs and a database? Why bother.
Ack. I’m not going to pretend like I’ve thought up the whole business plan, but it’s well known the centralized ticket agencies have huge markups. Ticketmaster’s ticketing business is something like $3B in revenue with $1B in profit.
I’m sure there’s still a need venue services, I didn’t mean to suggest the venue could or want to be entirely in-house. Maybe I’m minimizing that part of their business, but if tickets are NFTs it’s so much easier to avoid vendor lock-in for expensive scanners and day-of services.
A database indexing scanned tickets is cheap if you don’t want to burn/transfer the NFT at the door (depends on the network costs too). But again maybe I’m trivializing what Ticketmaster does (IMO I don’t think I am).
But Blockchain/NFTs solve the easy part of the problem that is already sufficiently solved with a database. Now you’re suggesting using NFTs and a database? Why bother.