Amsterdam, Netherlands, March 26th, 2024, Chainwire
The OPEN Ticketing Ecosystem launched this week, intending to disrupt the $85 billion ticketing industry using blockchain technology.
A new RWA use case is born
Amidst the massive growth for real-world asset (RWA) use cases, on-chain tickets might be the next big thing. Traditional ticketing is an $85 billion industry that’s ripe for disruption, with specific opportunities for blockchain-driven solutions. OPEN’s mission is to take all tickets on-chain, delivering much-needed transparency for fans and fair earnings for creators.
OPN token
All ticketing activity on OPEN’s tooling is driven by the OPN token, which will become tradable starting Friday, March 29th. Ticket integrators source OPN from the open market to access tooling and issue tickets. When staking goes live for OPN, all stakers will earn yield directly from all global on-chain ticket activity.
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Plug & play infrastructure
The OPEN team has built on-chain ticketing infrastructure since 2016, resulting in a plug & play tool suite that adds value at any scale; from small independent artists looking to grow their community and issue NFT collectibles, to large ticketing operators looking to take their tickets on-chain. Every ticket issued using OPEN can be verified on-chain with full transparency. OPEN has issued over 5 million tickets on-chain to date – and is expecting to raise its annual ticket volume to 20 million this year.
Event financing
Taking ticketing on-chain not only makes the ticketing experience smoother – there are additional unlocks that make the lives of everyday creators easier in ways never before possible. Take OPEN’s new event financing tool, a way for artists and event organizers to crowdsource the funds needed to realize a show, tour, or festival, by leveraging their unsold inventory of on-chain tickets as collateral for DeFi funding. Participants who help realize these events are rewarded with a programmable yield, issued to them automatically the moment the ticket sale takes place. This approach unites the latest in RWA & DeFi tooling to provide freedom and independence to creators.
More about OPEN:
The OPN token will launch on Friday, March 29th. Follow along with OPEN’s mission for taking ticketing onchain through the website: onopen.xyz & the official OPEN Twitter account.
Contact
Olivier Biggs
OPEN
olivier@onopen.xyz
