TIXX - Event tickets on the blockchain via NFTs

Name of Project
Cryptixx (TBD, just spitballin)

Ticker for Token
TIXX

1) In one sentences or less, describe your token. This isn’t the time to get wordy, just to the point!
Non-fungible tokens used in-lieu of event tickets that automatically redistribute royalties to venue/artists/promoters if resold, thus discouraging and capitalizing from scalpers at the same time.

2) Do you have a video to introduce yourself or explain the token? Upload it here and share the link here. (Not required)
Not at the moment… Soon. :slight_smile:

3) Do you have a logo for your token? If so, upload it here. (Not required)

Not at the moment.

4) How does your token work? Be as detailed as possible

Create a website for an NFT marketplace for tokenized event-tickets. Each token sold or traded represents a unique ticket.
Example- Band/promoter would sell tickets entirely digitally, each ticket itself would be an NFT, with the ticket info-seats, etc., sent to the buyer/attendee’s wallet (would need to be a convenient phone app, and easy enough for a drunk person to interact with).
If the original buyer decides they can no longer make the event and would like to resell, they could do so on the NFT digital marketplace, however if resold at a higher value (scalping), then a portion of the profits could automatically be redistributed to the venue/content creators.

A modest fee off each transaction could also be distributed to the token foundation. :wink:

5) What problem is your token aiming to solve? How will this positively impact the crypto industry?

Scalping is a real problem in the events industry, it makes concerts have lamer audiences cause it keeps the fun poor people out, and all the added value to the tickets doesn’t benefit the artists or promoters at all.
Also it can prove that crypto provides a useful tool for old problems, and is more than just a bunch of dudes speculating on whether number go up or not.

6) What was the inspiration of this token? How did you think of it?

I’m a musician who has toured for years, and many of my close friends are as well. Recently, one of my friend’s secured a great gig touring with Nathaniel Ratcliff, and this summer they performed a few shows at Red Rocks amphitheater in Colorado. Because of covid, tickets were sold to a limited audience for about $50 a piece, with proceeds going to a charity. Because of the limited seating and high demand, there were scalpers selling tickets for up to $3,000 (!!!). WTF? right? From the added +$2,950 in value, the charity received $0. The band received $0. It wasn’t right.
Imagine if 50% of the added markup went right back to the event holders?

7) Are there any projects out there doing something similar?

I don’t believe so for this use-case.
I definitely was inspired by Rarible and their built-in royalty mechanism for content creators.

8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explore phase)

Exploratory only. Im not a dev, i’m a cellist.

9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?

Dynamic. Tokens minted to capacity for each event.

10) How long do you think it would take to build a minimal viable token?

Im just the idea man. Probably a while. But if you build it, every venue/promoter/band in the world would love to use it.

11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)

As a musician with many former contacts in the industry, I could absolutely help build a network of support for actual use-case.

12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?

It would just need to be easy and smooth enough for the average pleb to use.

If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.

This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc

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Would like to add that the timing for a project like this could be perfect. Because of covid the events industry is in shambles, but eventually it will return. Many of the major promotion companies like AEG live are only screwing the talent and acts more with harsher contracts (currently their new contracts state that bands will not receive their deposits if cancelled due to covid, but the promo company keeps it, among other things). So essentially you have a middleman that is screwing everybody- the talent with a bad deal and no security, and the customers with outrageous service fees. All the while their bottom line is shrinking and they face financial extinction. There could be a real opportunity to usurp their monopoly- for a long time AEGlive was the only game in town and you had to play by their rules if you wanted stage time, this could change.
Now imagine collecting a 1% network fee for tickets on every concert and sports event in the world. Lets go!

I’ve invested in a project called Aventus a while ago. They aim to achieve similar things to what you aim for. Bots buying loads of tickets and selling for multiple times a normal ticket price is a massive problem. Also fake tickets to needs to be eradicated. Great problem to solve :slight_smile:

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Nice! Lots of benefits to having tickets on the blockchain. Fake tickets are also a huge problem. Lots of times also scalpers will sell a print off of a QR code- now you need to trust mr random on the street. Blockchain can solve that trust problem. If you hold the token, you hold the ticket. Easy.

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Doesn’t RARIBLE do this? where you can make an NFT with different assets & you can input the percentage you get when its sold to others from the people who bought off you?

can an NFT have a fixed price? i.e. if the original purchase price was 1ETH, then can it only accept 1ETH when exchanged? no less, no more. just 1ETH. That’s the type of price locked feature I’d like to see event tickets etc.

Yes, exactly. Theoretically you could already sell concert tickets on rarible, but no one does- and unfortunately it’s probably too complicated for most people to dive into metamask and understand gas fees, etc.
This would need to be different because here there needs to be a simple marketplace, available in an app with an easy cash onramp - which I dont think should be a legal barrier because unlike other crypto projects that try to use fiat onramps this in no way is a security or an asset class, its concert tickets, just represented by a token.

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About fixed pricing, I haven’t seen that personally in a NFT but it might be possible, and seems like a good idea for an option. The goal I think should be to allow the event promoters to decide what is best for them.

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I really like the idea, but I’m concerned because it feels like this only works if the venues opt to use it and that leaves an extra variable in the equation. Have you done any preliminary outreach to test the waters with venues you are familiar with?

Venues generally don’t care so long as they are paid- sell the tickets however you like, just sell them.
However lots of big venues are booked entirely through the promoters- again, usually AEG live (they kind of have a monopoly going on). But there’s not really any reason to say a company like AEG live wouldn’t just jump on this train themselves and use the service- it benefits all parties involved, ultimately it would just generate them more income from the reselling of tickets, and everyone likes more money.

Hey stoked I made the cut for the top 8! Glad to see the support. I just had a chat with my former booking agent (who also happens to be a blockchain nut), and he’s on board and could also be a huge help in making this a reality- whether through feedback or advocacy. Got lots of ideas for interesting features that could be supported… This could happen folks!

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I searched to find competitors to this to try to understand what this token idea solves that others don’t, but I think you might do the best job answering that question. Here is one url as an example of existing blockchain solutions that are in the ticketing venue business niche:

Is it specifically the scalping revenue being shared with the band that this aims to tackle?

“Is it specifically the scalping revenue being shared with the band that this aims to tackle?”
-Yes.
Its nice to see that there are other projects trying to find solutions to the scalping and counterfeit problem, but I think we can do better by really creating a great online marketplace that can actually generate more revenue for the event. This creates more incentive for adoption.

Ok awesome! It is a neat concept. I think there is definitely room to improve that space. Really great that you have someone in that space that you know that is willing to help work with us if we explored this token idea further :slight_smile:

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Thanks for all the support to the 70% who voted. Last minute a 400k whale flipped it the other way. Savage. :sweat:
Keep me posted if there’s still any chance to develop, I have the time and would love to turn the idea into reality.

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