NFTicket — tokenizing access and ownership
Those who will be reading this article, will probably know what an NFT is. Some will probably also have heard the magic number 721 — as in ERC721, the Ethereum standard defining NFTs. And most of you will associate it with bored apes, crypto kitties, pixel punks or even the most expensive — 69 million USD — piece of digital art ever: “Everydays” by the artist going under the handle of “Beeple”.
Then came the next wave — the #Metaverse and the gaming industry jumped on the bandwagon of tokenizing avatars and superpowers; again using NFTs.
This was how NFT Technology gained popularity for the first time. But the technology behind it can do so much more than just showing colorful jpgs. bloXmove’s NFTicket brings new momentum and the next level of development into the NFT market. By combining standardized NFT technology with additional verification mechanisms, such as Verifiable Credentials (VC) and Digital Identities (DID), we provide an API-based solution which digitizes and decentralizes ticketing and certification.
Non-fungible contracts and digital ownership
Secure, auditable and immutable transfer and trading of any digital asset or certificate is what it breaks down to.
“?, Come again…”
NFTs are actually simply a uniquely identifiable entry in a highly secure, digital registry.
This digital registry is actually a smart contract on a blockchain; usually Ethereum or Polygon.
The mechanism is designed, so that any transfer or trade involving that asset has to go through this registry.
Any transaction involving the digital assets presented by this NFT smart contract, simply registers the buyer’s wallet of the item identified by the serial number identifying the asset — because that’s all an NFT actually is: a serial number managed and protected by a smart contract on a blockchain.
Here is the link to the smart contract for all of Beeple’s NFTs:
http colon slash slash etherscan dot io slash 0x2b2a9025902aE16B99032FC85462f61C5833E183#code
(Medium is blocking links to crypto)
And the unique entry for the 69 million USD masterpiece is — not 42, but: 40913
NFTicket verifies ownership, tickets, vouchers and coupons
We already use digital tickets in many aspects of our live, let it be a for a concert or a plane or even the bus ticket you need to get to work. Right now, these digital tickets only serve one use which is to grant the user access to whatever service they paid for. We present QRcodes, serial numbers, our smartphone wallet or a printed paper in the case of access or entry controls. Current digital tickets are not securely anchored to an identity or wallet; which makes it very easy to screen shot or fake a ticket.
NFT + Verifiable Credentials — crypto for real-world applications
“bloXmove designed the NFTicket protocol to combine the functions of (exclusive) membership cards, vouchers, tickets and certificates of ownership.
NFTickets provide the expressive power of Verifiable Credentials as proof of real-world asset ownership with the flexibility and attractiveness of NFTs.”
Harry Behrens, CTO bloXmove
bloXmove’s NFTicket solution improves the customer experience, protection against forgery as well as versatility of digital certification and ticketing.
BloXmove adds two magic ingredients to the world of ticketing:
- We connect and embed tickets into web3 wallets and express them as NFTs (non-fungible tokens on a blockchain)
- We also allow to convert them into DID-based Verifiable Credentials for cross-chain and network-independent exchange and interoperability.
- How about an automatically personalized plane ticket that also holds a voucher for free food in case of flight delay or occurrence?
- Or a ticket to a football match that includes the mobility budget to reach the soccer stadium by train, car or scooter and that shows the autograph of your favorite athlete which could be collected with each game or exchanged with other fans.
- Or an entry pass for a virtual metaverse event which includes the proof of a 100% green energy usage and is offsetting the carbon footprint?
The possibilities of attaching various new use cases are plenty. The lifecycle of the conventional ticket gets extended, and providers can enter secondary and third markets, prolong their customer journey and increase the number of customer touchpoints. For the user, the NFTicket enables a seamless experience with only one necessary ticket, no need for extra identification or form of payment if different services can be accessed with the same ticket.
NFT, SSI, VC and OpenSea..putting it all together
bloXmove’s NFTickets are based on the combination of NFTs and Verifiable Credentials; bringing together the advantages of both technologies. This way it is possible to customize digital tickets with features such as ID credentials, access control, payments and instant settlement.
NFTicket protocol can be adapted to any use case requiring access control or certification. Thanks to the security built into blockchains, each NFTicket is certified, signed and tamper-proof.
In order to ensure that this asset and the transfer of it can be legalized, we take a two-step approach in NFTicket:
- The initial owner issues and signs a Verifiable Credential transferring ownership of the asset/certificate/ticket to the receiver — the “Holder” in the parlance of the W3C protocol being used.
- The VC is converted into an NFT for smooth and seamless trading and transfer. The VC is also part of the NFTs metadata.
→ NFTicket keeps a 1:1 verifiable link between the VC and the NFT
As VCs are becoming more and more accepted the barrier to using this technology in real use cases is lowered and decentralized technology is finding its way into our everyday life. It eliminates the need for intermediaries and makes trading and commerce more efficient; giving back control over trading of assets to those who created them in the first place.
This why the arts and media world embraced the technology:
NFTs open up the opportunity for a collaborative Creator Economy by giving the individual the ways and means to take control back into their own hands and wallets!
This also ensures sovereignty — as in Self-Sovereign Identity (SSI) — over whom we share our personal data with and what we selectively provide or not. This security can be extended onto instant and direct payments or prepaid budget options which can be processed much faster and cheaper than current solutions. On top of that NFTickets are still NFTs — so they do provide all the cool features we such as including digital art — think of concert tickets styled with signed artwork by the main act.
And because all of this is standard-based, OpenSea is at your service as the “eBay for the Web 3.0”: All NFTickets can be traded and viewed on OpenSea — using the same mechanisms Beeple did…
NRVerse: NFTicket to trade Renewable Energy Certifcates
The advantages and opportunities for bloXmoves NFTicket protocol offered by the ability to access the metaverse can be best shown with our existing collaboration with NRverse.
The young company is bringing more sustainability into the metaverse by proofing green energy consumption for metaverse events. This presented a natural application for our NFTicket protocol as the ticket can not only be used to verify the proof of origin for the renewable energy but also to grant access to the actual event.
This was used by Decentraland to ensure that anybody attending this event, provided certified proof of having procured a certain amount of Renewable Energy Certificates (REC) from NRVerse.
At the first zero-emission metaverse event powered by 100% renewable energy that NRverse organized, we launched our first NFTicket with great success and users could verify their green energy consumption, get access to the event and trade the collectable NFT afterwards on OpenSea.
Again, congrats to the BLXM community member that won the first bloXmove x NRverse NFT-cap with event access and green energy certification. During that night two weeks ago, we made Decentraland greener and the dancefloor more colorful.