OPEN Ticketing Ecosystem launches to bring the global ticketing industry onchain
21 March 2024 - Press releaseThe newly launched platform aims to bring the $85 billion ticketing industry onchain with backing from the likes of Animoca, Merit Circle, Redbeard Ventures
The newly launched OPEN Ticketing Ecosystem is set to become the number one home for onchain ticketing backed by Animoca, Merit Circle, Redbeard Ventures & the Tezos Foundation, with tooling running on Polygon, Base, Solana and Tezos. This ecosystem of builders, projects, and backers has the shared goal of challenging the status quo and bringing the $85 billion ticketing industry onchain, restoring rightful control back to event organizers, artists and their fans.
Ticketing is the next big industry for true disruption by the Web3 and RWA approach and onchain ticketing is the number one Web3 onboarding method for mainstream consumers. Every year, billions in revenue is captured by centralized ticketing monopolies who make record breaking profits whilst artists, organizers and fans suffer. Whether it’s opaque ticket fees, egregious scalping or artists losing out on their revenue and data - it’s time for change.
The OPEN Ticketing Ecosystem is in a perfect spot to disrupt these monopolies having issued 5 million tickets to event goers around the world, from huge stadium shows to comedy clubs and museums since 2016. It provides state of the art global onchain ticketing infrastructure used around the world and the newly rebranded platform is an industry-wide ticketing coalition with prominent partners that will launch the beginnings of the onchain ticketing industry.
The OPEN rebranding is followed by a newly launched event financing system that helps organizers and artists fund their events, without signing their soul away to a ticketing monopoly. In the near future there will be additional massive integrations, boosting the annual ticket volume on OPEN to 20 million. Along with all of these new business developments, OPEN is launching the OPN token on March 28th. Holders of OPN will be able stake their tokens and receive a portion of real world ticketing yield.
The centralized ticketing industry is currently valued at $85 Billion whilst the onchain ticketing industry is valued at only 30 Million dollars. OPEN plans to address that imbalance and put 1% of the events industry onchain in the next five years. OPN has real world demand outside of the crypto industry and has a 30 million market cap, bringing billions of value onchain, thereby tapping into a Multi-Billion dollar revenue stream for holders.
At the heart of OPEN is the OPN token, which ticketeers use to fuel all tickets processed through OPEN. Anytime an attendee enters an event, OPN flows behind the scenes to token stakers via the DAO and ecosystem treasury, providing real world yield on a global scale.
With significant improvements in onchain accessibility, the maturing of onchain experiences, blockchain activity and platforms, the ingredients are now in place for the OPEN Ticketing Ecosystem to take the ticketing industry by storm.
Submit news or a press release
Want to add your news or press release? Email Paul or Kevin
Two week FREE trial