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March 26, 2024

New RWA usecase unlocked as OPEN launches onchain ticketing ecosystem

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, onchain 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 onchain, 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 in order to access tooling and issue tickets. When staking goes live for OPN, all stakers will earn yield directly from all global onchain ticket activity.

Plug & play infrastructure

The OPEN team has built onchain ticketing infrastructure since 2016, resulting in a plug & play toolsuite 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 onchain. Every ticket issued using OPEN can be verified onchain with full transparency. OPEN has issued over 5 million tickets onchain to date – and is expecting to raise their annual ticket volume to 20 million this year.

Event financing

Taking ticketing onchain 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 onchain 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
[email protected]

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Chainwire is the top blockchain and cryptocurrency newswire, distributing press releases, and maximizing crypto news coverage.

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Chainwire is the top blockchain and cryptocurrency newswire, distributing press releases, and maximizing crypto news coverage.

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