More details & transparency — Real time data about new events added by event organizers
If an event is created by an event organizer the details about this event will be stored/pushed to the blockchain as soon as the event is published.
This means that if a lot of events are registered on a single day, the community will be able to infer what events these are and what can be expected of the subsequent future sales! Such excitement. So wow!
Each event is assigned an unique address (managed by getCustody). Allowing explorers to easily track the actions of event organizers. This is key for building trust (mainly relevant for the event financing angle).
Metadata stored per ticket/getNFT:
Similar to the wallet/address pointing to the event event organizer, each user of the GET Protocol is assigned a wallet by getCustody.
This allows fans to easily look up their ticket on an L1 blockchain (as it is an NFT). Allowing them to experience truly owning an asset.
The fact that each ticket is an NFT opens many doors for new innovative features. For examples, after scanning tickets of events can become collectibles, lottery tickets or playing cards. What is more, this is a feature competitors aren’t event comprehending.
Metadata stored per event:
Having reliable on-chain registered data available on events will prove crucial for event financing.
Metadata stored per ticketeer
Previously it was impossible to infer whom was producing state changes. In the getNFT system, each getNFT is linked to a ticketeer. As with the events, the primary key is an address (and an wallet issued/managed by getCustody).
All GET Protocol activity is on-chain
It is also notable that with the transactions happening in real time and on an L1 blockchain, integrating the usage of GET economics is now far more straight forward and transparent.
This means that when fully developed there will be no need for periodic burn reports and other manual/centralized processes.
Having all activity on-chain is a very important step towards community governance. As one can only vote on things that occur on-chain (otherwise the governance is vaporware). Admittedly GET governance is still far out (requires more involvements of integrators) but setting steps to enable it is important regardless.
This brief overview is isn’t intended as documentation(will be published as soon as all testing and improving is complete). We are excited!
In the weeks ahead we will be intensively testing the getNFT implementation on Binance Smart Chain Testnet (check out the simulations here: https://testnet.bscscan.com/address/0x94Cbd20007287c4cC103ef47edA2Af07d7C0aB4c#events).
In the mean time we will work with the developers in the GET Protocol community to ensure that explorers will be available to witness the minting of 60 000 NFTs(the total amount of unscanned tickets).
There is much to look forward to! As this Shiba called Doge would say: ‘Change happens slowly and then all at once.’