CryptoTickets, Ethereum ERC721 tickets, are live and tradeable on OpenSea

How we built it

Just another tradeable asset

Building the first version of CryptoTickets actually turned out to be really simple. Because OpenSea is built as a generic marketplace for ERC721, we simply followed our own developer tutorial to create a new ERC721 contract and we immediately had a tradeable asset! We added ERC721 metadata to customize the visual look of the ticket on OpenSea, and we layered on a few customizations for the unique ticket functionality.

Simple proof of ownership

Of course, the core functionality of tickets is being able to prove that you actually bought a ticket on the day of the event. We added a simple proof-of-ownership feature on OpenSea that works for every single ERC721 asset.

Why it’s cool

Experts in both ticketing and blockchain are rightly bearish that decentralized ticketing will disrupt incumbent platforms any time soon.

Tickets as collectibles

Because they can be easily displayed in a multitude of environments, tickets to famous events (like NFT.NYC 😉) might serve as collectibles, in the same way that physical ticket stubs are often kept and cherished. In addition to displaying your ticket on your OpenSea, you could display your ticket in any number of emerging digital environments: your home in Decentraland, trophy cases, or even inside games.

Collectibles as tickets

The “proof of ownership” feature described early is simple and generic: it’s really just a way to prove you own an item with a QR code. Using the same mechanism, existing collectibles could be used as tickets to events. Own a CryptoKitty? Now you can attend KittyCon (not a real event, but it should be).

Advanced auction functionality

Open protocols allows tickets to take advantage of auction mechanics that wouldn’t necessarily be built in vertically integrated ticket marketplaces. Because tickets are ERC721-compatible, they immediately take advantage of all of the cryptocommerce functionality we’ve built at OpenSea. Without any extra work on our end, users can immediately:

  • Sell bundles of CryptoTickets (perhaps even with a CryptoKitty or two)
  • Sell in any ERC20 token (stable coins, fiat coins, rewards tokens)
  • Accept bids for tickets
  • Trade CryptoTickets for other items (coming soon!)

Shared incentives for secondary sales

Issuing tickets on the blockchain allows event issuers to programatically enforce symbiotic relationships with secondary marketplaces for tickets. For example, as an event issuer, I could work with a suite of secondary marketplaces to ensure that I still benefit from secondary sales of my tickets. While such schemes were certainly possible in the centralized world, they were often cumbersome to implement and difficult to enforce.

Tracing custody, while preserving good UX

Now for perhaps the most controversial argument. Spencer Noon from Doggie Tail Crypto Capital rightly points out an existing tradeoff between UX and ticket custody tracing:

Get your VIP ticket today!

If you’re interested in attending NFT.NYC, there are 50 VIP tickets on sale on OpenSea, so grab one today. Or if you’re more of a speculator and not interested in attending the event, you can grab one and resell it right there on the OpenSea marketplace!

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NFT.NYC

NFT.NYC

Since 2019, NFT.NYC events have hosted thousands of attendees, hundreds of leading speakers and the best NFT projects.