New RWA Usecase Unlocked as OPEN Launches Onchain Ticketing Ecosystem

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

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

A brand new RWA use-case is born

Amidst the huge development for real-world asset (RWA) use circumstances, onchain tickets is perhaps the subsequent 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 honest earnings for creators.

OPN token

All ticketing exercise on OPEN’s tooling is pushed by the OPN token, which is able to turn into tradable beginning Friday March twenty ninth. Ticket integrators supply OPN from the open market with a purpose to entry tooling and situation tickets. When staking goes stay for OPN, all stakers will earn yield instantly from all world onchain ticket exercise.

Plug & play infrastructure

The OPEN group has constructed onchain ticketing infrastructure since 2016, leading to a plug & play toolsuite that provides worth at any scale; from small unbiased artists trying to develop their neighborhood and situation NFT collectibles, to giant ticketing operators trying to take their tickets onchain. Each ticket issued utilizing OPEN could be verified onchain with full transparency. OPEN has issued over 5 million tickets onchain to this point – and is anticipating to lift their annual ticket quantity to twenty million this 12 months.

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 attainable. Take OPEN’s new occasion financing instrument, a approach for artists and occasion organizers to crowdsource the funds wanted to comprehend a present, tour or competition, by leveraging their unsold stock of onchain tickets as collateral for DeFi funding. Individuals who assist notice these occasions are rewarded with a programmable yield, issued to them mechanically 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 way of the web site: onopen.xyz & the official OPEN twitter account.