The athletic a major sports medium covered the application of blockchain in the sports industry. For the article they spoke to Ted Leonsis (NBA and NHL teamowner). The soltion and the business activities he describes are very similar to GET protocol, an NFT ticketing moonshot. The athletic article is in the second part of this post
GET protocol - NFT ticketing
GET protocol NFT ticketing has given their monthly update full of excting update to look forward to. I will briefly highlight the most exciting features
- 30% of the total circulating supply has been burned from the treasury the reemaining part will be used be controlled by GET holders in a DAO treasury
transaction link https://etherscan.io/tx/0xdae264ab994d105e3c1fefb9267908c0e67a3e6a55bfc2bc99fe2325a6479d75
- NEW TICKETING company in April adopting the GET protocol in April
"There are several whitelabel parties approaching the moment of publication. I can’t wait for you to be able to check them out and Sherlock everything there is to know. We will likely be introducing at least one, quite possible multiple new whitelabel candidates to you in the month of April.
- Talk of interested parties of different caliber - my personal guess is that these types of parties are the size of NBA owners Mark Cuban and Ted Leonsis. Both have recently publicy stated the benefits of NFT ticketing. The exact ticketing solution GET is offering.
https://www.sportico.com/business/tech/2021/ted-leonsis-blockchain-ticketing-1234624872/
- more utillity for the GET token. Besides tokenburn based on ticketsales, GET tokens now have the utillity of governance of the DAO GET treasury aswell
- Team is doubling the next 12 months, currently got 25 teammembers and it will double to 50. This shows the amount of the interest in the GET protocol from the industry. The company needs to scale up rapidly to deal with all new requests
" The current goal is to double the team over the next twelve months. And then to double it again."
GET still is a low market cap coin that has lots of potentional to grow short term and long term. It's marketcap rank is only around the range of 300 on coingecko. Do your own research I still think GET is very undervalued compared to any other crypto project. No project with a similar marketcap has the same amount of adoption.
Intresting extracts due to a (soft) paywall
NFT tickets
Dallas Mavericks owner Mark Cuban is a tech billionaire who is all-in on blockchain and NFTs. He doesn’t, however, place much significance on whether or not fans will shift from traditional cash to cryptocurrencies like Bitcoin or Dogecoin. Instead, he’s more interested in the wider business applications of all the technology.
“Everything is on the table. But I think the least important is using crypto as a currency. There are already gateways that enable that, so it’s simple for anyone to add,” Cuban said.
An NBA team owner/co-owner committee was recently formed to study blockchain technology and it includes Cuban, Ted Leonsis (Wizards), Joe Tsai (Nets), Steve Pagliuca (Celtics), Vivek Ranadive (Kings) and Ryan Sweeney (Jazz). All come from tech or finance backgrounds, indicative of a common denominator for sports team owners in the modern age.
One area that team owners are expected to try to apply blockchain is ticketing. Most entry into sports events now is done via digital applications rather than paper tickets, for both front-end retail sales and for the resale market. Putting tickets on blockchain theoretically allows teams and leagues to get a slice of secondary market sales when a buyer sells their ticket to someone else.
Leonsis made the case for blockchain-based ticket tracking in a recent call with The Athletic. He posed the example of a fan reselling a $150 face-value season ticket for $1,000.
“You made $850 and I didn’t share, the player didn’t share, the league didn’t share,” said Leonsis, a former AOL executive who also owns the WNBA’s Washington Mystics and NHL’s Washington Capitals.
He also said he’s interested in the technology to expand the global footprint for his teams beyond their local markets.
“I’m really interested in how to get out of the notion that I own a sports team and I have local media rights and a local market and I’m only as good as the size of my market. That to me is what is so interesting here,” Leonsis said. “There are eight billion people on the planet; six billion connected to high-speed internet; 500 million with interest in basketball. I have the Washington Capitals and I have 20,000 seats that I can sell to people 41 times a season. My market seems finite. A global market seems infinite.”
He theorized that could include selling NFT tickets to fans who’ll never attend a game in person but are willing to pay for digital keepsakes.
“A buyer can hold onto the memory, then resell the ticket,” he said. “I can sell a ticket to eight billion people. Previously, I could sell a ticket to 800,000 or 10 million, whatever is in your market. When people start to wrap their heads around this, it will be astounding the sea change this represents.”
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