Please describe your proposed solution
Problem Recognition
Approximately $30 billion worth of tickets are in circulation worldwide, of which about $10 billion are illegally resold. Organizers are losing revenue due to this unauthorized resale. It is particularly difficult to identify the resellers because it is difficult to clearly identify the purchasers.
In addition, Polygon, which TicketMe is currently using, has a gas fee that fluctuates depending on the congestion in Poygon Chain, making it difficult to provide a stable structure for the increasing volume of tickets sold in the future.
Furthermore, within DAOs structured using the Cardano chain, there is no marketplace that allows for the free buying and selling of NFT tickets (such as accommodation vouchers or AI usage tickets etc.) using utility tokens in combination with the Cardano chain. As a result, even when using the Cardano chain within a DAO, it is unable to scale.
※Due to global regulatory considerations, within DAOs, utility tokens are airdropped to contributors and others. These utility tokens are then used to acquire NFT tickets that grant access to DAO services. It is envisioned that by buying and selling the NFT tickets themselves, users can either convert them into fiat currency or access DAO services using fiat.
Contribution to the Cardano Ecosystem
This project is proposed as a way to promote Cardano through the sale of event tickets. The Cardano blockchain is expected to enable secure and transparent ticket transactions and contribute to the expansion of Cardano's active user base. Cardano's active user base.
Tokenizing tickets as NFTs not only prevents purchases for resale purposes and fraudulent use but also allows profits from resales to be fairly returned to the ticket providers (organizers). Additionally, it enables the collection and use of data that was previously inaccessible, making it one of the most suitable use cases that fully utilizes the unique features of blockchain and NFTs. Furthermore, this concept can be applied not just to event tickets but to the tokenization of any type of rights, allowing for the creation of new markets. We believe this could become one of the first services to achieve mass adoption using the Cardano blockchain.
Approach and Rationale
The NFT ticket is our proprietary technology that prevents resale after event admission, provides proof of visit after purchase, and eradicates fraudulent resale. This technology is our invention, the "Token Transfer Lock Control Program," and is protected in Japan as Patent No. 7372712.
<u>Patent overview image</u>
This increases the transparency of ticket purchase and ownership and returns profits to the organizer. It also implements a user ranking system on the Cardano Chain to analyze relationships among users and identify fraudulent resellers.
Project Involvement Targets
A team of engineers under the CTO of TicketMe, Inc. will be responsible for the implementation of this project. They will design the architecture of the service and contribute to the project by writing code.
Proof of Impact
During the initial phase of the project, Cardano Ticket will be used at a 5,000-person event in Japan. Through this implementation, the project will be declared successful when more than 10,000 NFT tickets have been issued.
[IMPACT] Please define the positive impact your project will have on the wider Cardano community
Provide value to the community
This project will dramatically increase Cardano's user base and increase blockchain transaction activity through event tickets.
Events will help promote Cardano because they will attract the attention of cryptocurrency enthusiasts as well as the general public. In addition, it serves as a means of identifying wallets held by real people and addresses the problem that exists with many bots. NFT tickets that are used in events serve as proof that the person is an actual, existing user.
Measuring Impact
The success of the project will be measured through the implementation of Cardano Ticket at a 5,000 person event and the issuance of over 10,000 NFT tickets. Having previously implemented this at Polygon for events of over 12,000 people, we are confident that similar results can be achieved on Cardano.
Sharing of Deliverables and Opportunities
Project outcomes and opportunities will be disseminated through videos documenting the actual event and implementation. These videos will be uploaded to platforms such as YouTube and Vimeo and shared through Cardano related community forums and social media. This approach allows developers and the general public to see first-hand the practicality and results of the project and encourages interest and participation in the Cardano ecosystem.