📓An Introduction to OPEN
Last updated
Last updated
Welcome to OPEN, the home of onchain ticketing.
It's no secret that the ticketing industry is fundamentally broken. You don't have to look far to see the sizeable cracks forming, with artists and organisers raising their voice in objection against ticketing monopolies that have cornered the entire events vertical.
The largest monopolies announce record breaking profits, to the tune of $8 billion per quarter in revenue, weaponising the relationship between fans and artists to extract as much revenue as possible.
In an industry that's valued at an eye watering $86 billion with projections to grow to $100 billion annually over the next five years, there is a huge amount of value being extracted by centralised ticketing companies.
Here's where OPEN steps in.
We believe in a ticketing industry that puts artists and event organisers back in control of their ticketing, where fans and artists own their relationships and revenue and data flows to rightful parties.
Luckily, the blockchain is the perfect solution to the inherent problems mentioned above, by being able to programatically enforce ticket sales rules at the contract level, whilst democratising access, ownership and financing opportunities for all.
At OPEN, we've built state of the art onchain ticketing infrastructure that scales globally to serve millions of tickets around the world, accessibly onboarding millions of attendees onchain direct through a ticket.
We're on a mission to restore rightful control in the ticketing industry and disrupt the monopolies at play. Together we can use onchain technology to make a difference for all those in the events industry.
What's incredibly exciting about onchain tickets is their ability to be real world assets, stored as an inventory onchain by organisers and artists. This allows for composability across the onchain space, from being used as collateral in decentralised event financing, to being issued across primary and secondary marketplaces onchain with enforcable sales rules, to being used as lasting access passes into digital experiences.
There's no easier and more accessible real world asset that the whole family can own than onchain tickets.
