Processing NFT Applications(Ticket NFT)
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Processing NFT Applications(Gift NFT)
This is a continuation of the previous content.
As the corona pandemic stabilizes around the world, the performing/arts fields such as events, festivals, performances, exhibitions, and fairs are rapidly growing again. However, the industry such as performances or events has not yet converged with the NFT industry. The reason is, again, that the use of NFTs is a simple form of value trading. Ticket Membership NFT solves the stagnation of industrial convergence and provides various benefits and services to users and businesses through NFT.
The ticket membership NFT process is shown in Figure 15. above. The company that hosts or plans (relevant) performances proposes performance-related contents and benefits through the platform. Coordinate the content of benefits (discount rate, components, ownership, sales structure, etc.), and issue it as an ERC-1155 ticket NFT through a smart contract. Issued NFT tickets are sold on platforms or NFT markets (OpenC, Binance NFT, etc.), and are paid for promotion to major performers.
Through this, users can observe various performances and events, and receive more and more diverse benefits than before. By providing a convenient user experience, it becomes an inducement to attract a large number of members. At the same time, ticket membership NFT has its own NFT that is immutable because it records the ownership of the ticket on the blockchain network.
A ticket NFT is issued through ERC-1155 smart contract based on the benefits coordinated with the contents proposed by performance agencies. Issued NFTs are sold in the NFT sales market or platform, and some ticket NFTs are distributed to performance agencies or related parties. Issued NFT can receive various additional benefits as the number of performance agencies or performance officials who want to issue NFTs for ticket membership in the future increases.
As the ticket membership NFT platform expands, the benefits of the first issued ticket membership NFT will continue to increase. Therefore, the faster the ticket NFT issued, the more benefits it holds as the platform expands, which leads to an increase in the ticket membership NFT price. As the price of ticket membership NFT rises, the value of ticket membership NFT increases for users, which causes the absorption of various performance planners and related parties. This phenomenon leads to the growth of the platform. Whether or not to use a ticket is determined by comparing NFT tickets with used/unused data in the smart contract pool using the characteristics of ERC-1155 in the manager platform. In addition, even in the case of a multiple-use ticket, the number of times is deducted and the remaining period is divided using the function of a specific smart contract.
