Welcome to the GET Protocol ($GET) Q&A hosted by The Gem Hunters
We would like to thank the GET Protocol team for coming to the The Gem Hunters and kindly sharing information on the project with our community. Before commencing our pre-set questions which will be followed by public engagement we would like to share some basic information on the project to give people a better idea before the Q&A begins.
GET Protocol is designed as a smart & secure engine for ticketing services and can be used by anyone looking for an innovative and transparent way to sell tickets. GET is a utility token, meaning that it serves a specific purpose within our ticketing solution. Due to the blockchain nature of the engine, the properties of the GET token allow for a transparent and stable value equivalence with fiat money, as this is locked in every event cycle.
Q1: What is GET Protocol and what problems is it trying to solve?
We are an operational ticketing protocol, serving several established ticketing companies. Our protocol provides them and their clients with blockchain-registered smart tickets. As of today we have sold more than 350,000 smart tickets and expect to do a multiple of this in the upcoming years, as our client base is quickly growing.
We are able to lock tickets to identity like no other company can. Of the 350,000+ tickets we have sold so far, 0 have ended up on the secondary market. This while almost all tickets we sell are for high-in-demand ticket sales.
Q2: What is the use case of the GET token?
GET is used as fuel within our protocol; for every ticket issued using the protocol, the token is needed. This creates organic demand for the token.
For every ticket sold, GET is needed to facilitate this happening. At the end of the event cycle (when all tickets have been validated at an event for example), GET is burned forever, thus reducing the total supply. We expect the total supply to be reduced by 50% by the end of 2022. For more information about this process, and about the buy-backs check out:
Q3: Can you explain the role of Blockchain in your ticketing solution?
One of the main features of the GET Protocol is our ability to merge the primary and secondary market of tickets. This is a great feat as it prevents scalping and fake tickets.
However, an anonymous market also has its downsides. People will want to know if their ticket is really offered for sale and if the event organizer isn’t only selling their own tickets (as remember, the markets are merged). By using blockchain we provide transparency in this process, making the market more efficient and trustworthy.
With the ticketing market being insanely shady in many ways, we feel this is a big USP.
You can try this for yourself, get a free ticket here: https://guts.events/u5fcf3-eating-pudding-for-proof/pkdcbk/
(Put the ticket for sale and you’ll see how it works.)
Q4: How many events tickets have you already issued tickets for, in other words, how is the real world adoption going?
Because we have stayed away from the crypto shouting match, and instead have been focussing on building a big client base and doing as many events as possible (We are currently over 800 events I believe) we have a battle-tested product that is in tune with clients and consumers’ needs.
Here’s an example of some media coverage we got after effectively ending scalping for Holland’s biggest comedian. This was a massive win for our product and proved the concept in a big way, with a tour of over 100.000 tickets.
Q5: Can you go into detail on the progress since the ICO?
We have been steadily growing our user base and creating our place within the competitive ticketing industry. By using the right partnerships and ambassadors, we managed to get a lot of traction and connections that helped us gain exposure and open new doors. The steam steadily grew (we are over 25 strong now) and we have been able to build our system to the point where we are no able to put it to work in other markets and countries.
We are quickly getting to the point where any interested party that wants to start selling honest tickets, can do so within a very short period of time.
This is a major milestone for us, and we have already lined up some very big next steps in South Korea, which is a very interesting market for us.
More on that veeeery soon. For the latest news, and to see which K-Pop legend recently joined our board of advisors, check out the January ’20 update blog:
Q6: The crypto world is becoming overcrowded with blockchain projects and tokens, what makes GET stand out from other projects?
Without wanting to sound arrogant, I do believe we are one of the top crypto project in terms of significant adoption. Already hundreds of thousands of people have unknowingly used blockchain because of us, and have therefore also used the GET token! We are currently selling tickets for events that range from massive stadium pop shows, to comedy shows to music festivals. Here’s the after movie of a stadium show that we are ticketing in 2020:
We are also on the brink of breaking into the Korean market, and we expect to introduce our system to millions of users soon!
Q7: What is there to look forward to for the future?
I think it’s a very exciting time for our project & highly involved community. We are ramping up our marketing on several fronts, and we are scaling up our business in a big way. We are about to break into the Korean market, and have plans taking shape in several other markets. (Remember: the more tickets we sell, the more GET is burned!)
We will also be adding a big new exchange early on in Q2 of this year.
We have a very involved and welcoming community where the latest updates and developments are discussed daily. Feel free to join: