New RWA usecase unlocked as OPEN launches onchain ticketing ecosystem

Amsterdam,
Netherlands,
March
26th,
2024,
Chainwire

The
OPEN
Ticketing
Ecosystem

launched
this
week,
intending
to
disrupt
the
$85
billion
ticketing
industry
using
blockchain
technology.

A
new
RWA
use-case
is
born

Amidst
the
massive
growth
for
real-world
asset
(RWA)
use
cases,
onchain
tickets
might
be
the
next
big
thing.
Traditional
ticketing
is
an
$85
billion
industry
that’s
ripe
for
disruption,
with
specific
opportunities
for
blockchain-driven
solutions.
OPEN’s
mission
is
to
take
all
tickets
onchain,
delivering
much-needed
transparency
for
fans
and
fair
earnings
for
creators.

OPN
token

All
ticketing
activity
on
OPEN’s
tooling
is
driven
by
the
OPN
token,
which
will
become
tradable
starting
Friday
March
29th.
Ticket
integrators
source
OPN
from
the
open
market
in
order
to
access
tooling
and
issue
tickets.
When
staking
goes
live
for
OPN,
all
stakers
will
earn
yield
directly
from
all
global
onchain
ticket
activity.

Plug
&
play
infrastructure

The
OPEN
team
has
built
onchain
ticketing
infrastructure
since
2016,
resulting
in
a
plug
&
play
toolsuite
that
adds
value
at
any
scale;
from
small
independent
artists
looking
to
grow
their
community
and
issue
NFT
collectibles,
to
large
ticketing
operators
looking
to
take
their
tickets
onchain.
Every
ticket
issued
using
OPEN

can
be
verified
onchain
with
full
transparency.
OPEN
has
issued
over
5
million
tickets
onchain
to
date
–
and
is
expecting
to
raise
their
annual
ticket
volume
to
20
million
this
year.

Event
financing

Taking
ticketing
onchain
not
only
makes
the
ticketing
experience
smoother
–
there
are
additional
unlocks
that
make
the
lives
of
everyday
creators
easier
in
ways
never
before
possible.
Take
OPEN’s
new

event
financing
tool,
a
way
for
artists
and
event
organizers
to
crowdsource
the
funds
needed
to
realize
a
show,
tour
or
festival,
by
leveraging
their
unsold
inventory
of
onchain
tickets
as
collateral
for
DeFi
funding.
Participants
who
help
realize
these
events
are
rewarded
with
a
programmable
yield,
issued
to
them
automatically
the
moment
the
ticket
sale
takes
place.
This
approach
unites
the
latest
in
RWA
&
DeFi
tooling
to
provide
freedom
and
independence
to
creators.

More
about
OPEN:

The
OPN
token
will
launch
on
Friday
March
29th.
Follow
along
with
OPEN’s
mission
for
taking
ticketing
onchain
through
the
website:

onopen.xyz
&
the
official

OPEN
twitter
account.

Contact

Olivier
Biggs
OPEN
[email protected]