As blockchain and non-fungible tokens gain more steam in mainstream, more and more projects are sprouting up to fulfill gaps in the industry that could largely benefit from blockchain technology. A future use case that is often mentioned when talking about the potential of NFTs is NFT ticketing and memberships - the Tick3t has created an NFT community that provides its holders with the most premium box seats and tickets to major events across major cities around the world. This is all done through an innovative ‘waiver-wire’ system they have implemented for their ‘Black Pass’ holders.
The Tick3t plan to be THE premium sports fan hub - giving access to all holders to major events at no extra cost!
There are currently 2 tiers of membership available for mint on their website:
We got a chance to ask the founders of the Tick3t some questions about how they got started with the project and what they hope to achieve with their premium ticketing membership.
1. What was your first experience with cryptocurrencies or NFT technology? What was your initial reactions and thoughts on the technology?
The team has been investing in crypto since 2018 but really started to focus on NFTs in late summer of 2021. Initially the pace and opportunity for disruption was what captured our attention but it was the projects that included an element of utility that really pulled us in.
2. Tell me a little about the team behind the Tick3t? Who are you guys and what are you setting out to achieve?
The three founders, Trevor, Darian, and Manny are all sports and music enthusiasts. All three played sports at the collegiate level and bring experience from enterprise software, consulting, and strategy backgrounds to the table. The team has a diverse tool kit that lends itself to identifying inefficiencies and crafting elegant solutions. It wasn’t long after discovering NFTs that the three realized the massive opportunity to disrupt a business archetype that’s deeply flawed - ticketing for live events.
3. How does the Tick3t benefit from the integration of blockchain technology into its membership pass?
Our passes are minted on the blockchain giving our holders ownership over their membership. This provides increased value over a traditional membership and creates additional revenue streams to support the business. As The Tick3t continues to grow, our early members will be able to enjoy a collection of benefits for life.
Eventually, our community marketplace of tickets will be on-chain which will eliminate many of the inefficiencies that exist today. As a result, our members will be able to exchange tickets free of the fees that too often push prices out of reach.
4. Can you tell us the differences between the 2 tiers available to mint right now? Black Tier (2.1 Eth) and Silver Tier (1.05 Eth)
Black Pass members will have access to an expanding catalog of luxury sports and music experiences across major cities at no cost through an equitable reservation system. These community boxes/seats will be a place for thought leaders in the Web3 world to come together around common interests, network, and share unique experiences.
A Silver Pass will act as a companion pass for Black Pass members. In addition, Silver Pass members will have access to purchase often out of reach tickets at below market rates from our T3 marketplace.
Black Pass members will have access to an expanding catalog of luxury sports and music experiences across major cities at no cost through an equitable reservation system.
5. Can you walk me through the process of claiming a ticket as a Black or Silver tier holder? Is it a raffle system between holders? First to claim? How does it work?
Tickets are claimed using a waiver wire system. This provides an equitable method for acquiring tickets regardless of time zones or busy schedules. All Black Passes have an associated position on the claim list. The top ranking pass that submits a claim is guaranteed to receive those tickets. Once the tickets have been successfully claimed, that pass is moved to the bottom of the list. This model has proven to be a fair way to distribute tickets, with members from the top to the bottom of the list placing successful claims.
6. What is the first step on the roadmap, if/when you mint out your membership tier passes?
We have already minted nearly half of our Black Pass memberships, allowing us to lock in multi-year agreements for suites at SoFi, Hard Rock, MetLife, and Wembley Stadiums as well as courtside tickets with the Golden State Warriors and Brooklyn Nets. The agreements with these venues give us access to the franchises that play there as well as all concerts and affiliate events. A few examples include F1 in Miami, March Madness Elite 8 in San Francisco, and the Tyson Fury boxing match in London. In addition, we have hosted a number of one off-events at different venues across various markets. As we mint additional passes, we will continue to add to that growing list of premium events.
7. For those young entrepreneurs looking to start their own NFT project, what advice would you give to them?
In a space that can too often be driven by hype, focus on building an authentic community! The best projects we’ve come across all have solid foundations built by community members. Those early supporters will act as a sounding board and will be your biggest advocates as you build.
In a space that can too often be driven by hype, focus on building an authentic community!
8. What was the most difficult part of the process in launching your own NFT?
One of the headwinds we faced early on was gaining the NFT community’s trust. Too many people have been rugged by projects that set unrealistic goals and fell flat. Our company is built on sound fundamentals but in the early days, it took a lot of time and effort to build trust with our early supporters. We’re fortunate that early skeptics have turned into some of our biggest supporters.
9. Is there anything else you would like to mention or share to our readers?
Building a membership-driven company made possible by NFT technology has been some of the hardest but most rewarding work the team has experienced in our professional careers. The breakneck pace that the landscape evolves at can be both overwhelming and energizing but the people in the community are always eager to help. If anyone is on the fence about getting into NFTs or launching their own business - feel free to reach out!