Name of Project
Cryptixx (TBD, just spitballin)
Ticker for Token
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.
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.
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