Quick take:
- Every NFT ticket is issued on-chain and can be verified.
- Users don’t need to have blockchain knowledge to use GET Protocol.
- The distribution of ticket resale value can be coded.
Amsterdam-based NFT ticketing solution, GET Protocol, is bringing the benefits of blockchain technology to the mainstream with event ticket issuance. So far, it’s proving to be a strong use case for NFTs as famous artists such as Gucci Mane and Lupe Fiasco have used it to issue concert tickets via NFT ticketing platform, DeFy Tickets.
For the uninitiated, GET Protocol is an NFT ticketing solution that provides an infrastructure with blockchain and NFT integration to ticketing platforms. Every NFT ticket is issued on-chain with clear, verifiable data which can be checked using the GET explorer.
It boasts a simple user interface, meaning that users don’t need to possess blockchain knowledge to use GET Protocol. According to a blog post written by Kasper Keunen, developer at GET Protocol, attendees of an event with tickets issued using GET Protocol’s smart contract were unaware that they had an Ethereum wallet, which displayed their NFT event tickets that were scanned before entering the event premises.
Underneath a photo of a packed event venue, Keunen wrote: “All people in this image have an Ethereum wallet. None of them is aware of this. Nor should they. We think that adoption looks like this.”
In January, Holland’s most popular comedian, Jochem Myjer, declared victory over ticket resellers after selling tickets to his show via GUTS Tickets, a ticketing platform which uses the Ethereum-based GET protocol.
With ticket sales and ownership recorded on the blockchain, none of the 50,000 tickets for his 36-show comedy tour ended up in the hands of scalpers. Myjer told Decrypt that prior to selling his tickets via GUTS, 20% of the tickets for his shows were sold for as much as three times the original price.
Besides reducing ticket scalping, GET Protocol gives control of the secondary market to event organisers. For resale tickets, the distribution of the resale value can be coded to specify the amount that goes to the artist, venue, and event organisers.
While some have argued that NFT tickets don’t completely eradicate scalpers, in the case of platforms that integrate GET Protocol, ticket resellers are unable to pick the buyer as their tickets will be offered to the whole market, meaning that they can’t ask for off-chain payments on top of the on-chain ticket price when transferring the tickets.
Tickets bought are tied to the buyer’s phone number and SIM card, and are all stored in one wallet. To share ownership of tickets with someone else, the original owner of the ticket would have to form a group with the person via the ticketing app. However, it’s unclear how the original ticket holder can’t ask for off-chain payments from those he has shared ticket ownership with.
As of this writing, a total of 1,915,334 tickets for 11,070 events have been sold using GET Protocol. Ticket issuers that have integrated GET Protocol include XTIXS, Relic Tickets, Wicket, tectix, and more.
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