💰OPEN Event Financing

One of the primary reasons why ticketing monopolies have been able to control so much of the events vertical is their ability to help organizers and artists fund their events.

When an organizer puts on their own event, they have to pay a series of large deposits, months before they sell tickets to the general public, this causes a cash flow problem where many organizers simply cannot afford to take on the risk of paying so many of these deposits before they're able to earn revenue from selling tickets.

This is where centralized ticketing monopolies come into play, who front the money to event organizers in return for enforcing multi-year contracts that lock organizers into playing at the venue the ticketeer chooses, losing out on a significant percentage of ticket sales revenue and having little access to fan data.

It's not uncommon for an event organizer to lose 50-80% of the revenue from their ticket sales in return for event financing, which is why we believe there needs to be a better solution.

That's where decentralized event financing comes into play. Using OPEN, onchain tickets can be created and collateralized before being sold to the general public. DeFi investors can then participate stables to the Event's financing pool, which organizers can use to pay deposits for their event.

When tickets are sold to the general public, the first revenue made is returned to the financing pools along with any interest specificed by the event organizer when creating the pool.

This allows for global access to liquidity that's not enforced by a single centralised company, it also seperates ticket access rights from financing deals, ensuring artists and organizers stay in control of their event ticketing.