New RWA Usecase Unlocked as OPEN Launches Onchain Ticketing Ecosystem

[PRESS RELEASE – Amsterdam, Netherlands, March 26th, 2024]

The OPEN Ticketing Ecosystem launched this week, desiring to disrupt the $85 billion ticketing trade utilizing blockchain know-how.

A brand new RWA use-case is born

Amidst the huge progress for real-world asset (RWA) use circumstances, onchain tickets is perhaps the following massive factor. Conventional ticketing is an $85 billion trade that’s ripe for disruption, with particular alternatives for blockchain-driven options. OPEN’s mission is to take all tickets onchain, delivering much-needed transparency for followers and truthful earnings for creators.

OPN token

All ticketing exercise on OPEN’s tooling is pushed by the OPN token, which can develop into tradable beginning Friday March twenty ninth. Ticket integrators supply OPN from the open market as a way to entry tooling and subject tickets. When staking goes dwell for OPN, all stakers will earn yield immediately from all international onchain ticket exercise.

Plug & play infrastructure

The OPEN workforce has constructed onchain ticketing infrastructure since 2016, leading to a plug & play toolsuite that provides worth at any scale; from small unbiased artists seeking to develop their group and subject NFT collectibles, to massive ticketing operators seeking to take their tickets onchain. Each ticket issued utilizing OPEN might be verified onchain with full transparency. OPEN has issued over 5 million tickets onchain up to now – and is anticipating to lift their annual ticket quantity to twenty million this yr.

Occasion financing

Taking ticketing onchain not solely makes the ticketing expertise smoother – there are extra unlocks that make the lives of on a regular basis creators simpler in methods by no means earlier than doable. Take OPEN’s new occasion financing instrument, a method for artists and occasion organizers to crowdsource the funds wanted to appreciate a present, tour or pageant, by leveraging their unsold stock of onchain tickets as collateral for DeFi funding. Members who assist notice these occasions are rewarded with a programmable yield, issued to them robotically the second the ticket sale takes place. This strategy unites the most recent in RWA & DeFi tooling to supply freedom and independence to creators.

Extra about OPEN:

The OPN token will launch on Friday March twenty ninth. Comply with together with OPEN’s mission for taking ticketing onchain by the web site: onopen.xyz & the official OPEN twitter account.