Quote from: arrangut on January 12, 2020, 01:39:06 PM

Blockchain solutions are progressing more and more into specific industries that used to work without it few years ago. And to be honest, I am pretty impressed with the value that certain worthwhile blockchain solutions are bringing to the table. Even though, many parameters must be analyzed before blindly believing in the benefits.

I attend lots of music festivals and sporting events, which is why I was excited when I discovered GET Protocol. It seems like a really cool solution with a lot of adoption and promising future. I wanted to share some info about them and ask for your opinion. GET Protocol offers a blockchain-based smart ticketing solution that can be used by anybody who wants to sell tickets in an honest and transparent way.

The GET token is used and burned whenever a ticket is sold using the protocol. So far, it looks like already 300.000 tickets have been sold.

Most recently the team announced that they are moving into the Korean market. On top of that, GET Protocol will be the first BApp in the ticketing vertical to partner with Klaytn, the blockchain subsidiary of Kakao (look that name up if you don't know it..)

With Kakaos market influence throughout various life-style services in Korea, the partnership is expected to cause much synergy in bringing real-life blockchain use cases to the market.

The team is delivering loads of good news - just this week they announced that big festival 'Oerrock' will be using GET Protocol for their ticketing. This feels like exactly the type of crypto adoption we should see right now, I am very curious to hear your thoughts on market, its prospects, GET and other similar solutions with value.

Yes, the problem and the market for this is enormous:

https://bigthink.com/politics-current-affairs/scalping

Quote from: shinratensei_ on January 12, 2020, 11:03:00 PM

I like the idea and this one is good enough but the price is not following what already happened with it as it was getting dumped more than 90%. i know that the team has been selling the ticket but it's not so much as you said that the team sold no more than 200k ticket and in the last quarter of 2019 and the team can only sell small amounts of ticket. Remember about the demand will be the main thing to determine.
A better solution is needed and as you can see so many centralized trusted parties are offering the same thing and i guess the adopters of gets were crypto enthusiasts and that's why it can't sell a lot of tickets.

The price you are refering to isn't really indicative. It happened during the January 2018 crypto hype. The price went to 6-7$ very quickly and dropped just as quick, like with most projects. Ever since GET has been pretty stable despite most alts losing ridicilous amounts of value.
In the meantime more than 300k tickets have been sold (you can see the number on their website in real time: https://get-protocol.io).
The great thing is that with more tickets being sold, the larger the buyback will be.

Especially the integration of ITIX should be a huge boost for the buybacks. They sell 2 million tickets a year and with their complete integration coming I hope to see them alone generating at least 500k yearly buybacks when fully integrated.
Then there's also GUTS, the new Korean ticketing company and I expect more ticketing companies to join soon. With all that combined I think a yearly buyback of a few million is a very realistic scenario in a few years. You can imagine what that will do to the price, with these thin order books.

And then there's also the scarcity of the token: at least 50% of it will be burned by 2021 (and all triggered by adoption and the selling of tickets). Basically: the bottom is in. If GET goes any lower (which I don't expect but secretely hope it does) then the buybacks and burns will be even bigger than the 100k that was burned in the last quarter. They will be bigger anyway as the ticket sales are expected to grow by a big factor this year but you get the point.

Quote from: Harlot on January 13, 2020, 09:22:34 PM

I don't think that is true in any way. Ticket fraud almost always happens on external platforms not related to the use of an app. They are always encountered in social media websites where a lot of scams happens. There is no actual ticket being sold but just the illusion of the seller having it making the buyer pay for it first rather than to think it through. Even with technology involve you can't stop these scams from happening as long as they have other outlets of doing it.

Scalping or ticket fraud is simply not possible with GET. They have merged the primary and secondary market together, which means that the tickets can only be resold in their ecosystem, of which they determine the resel price of.

Here's an example of a tweet from Dutch artist Jochem Myjer:

https://twitter.com/jochemmyjer/status/1195757465738055680

To translate: he's saying since he's using GUTS (runs completely on GET protocol), not one of his 100k+ tickets has been scalped or frauded with. So the solution is already there and visible.