Eyes on the prize
This segment was originally featured in the March ’20 update blog.
It’s the elephant in everyone’s suddenly-much-smaller-seeming room: Covid-19. Most of the world has come to a screeching halt in order to thwart the spread of the virus, and the ticketing and entertainment industries are no exceptions.
The GET & GUTS teams have been working remotely, being the exemplary citizens they’ve always been at heart.
It requires a bit of coordinating, but all departments have managed to find ways to remain productive and effective. Our support team and account managers have been working closely with clients that had events planned in the past few weeks, or had them coming up in the near future.
Even though there aren’t any events taking place, our developers are churning out countless new features, tweaks and bugfixes — but there’ll be more about that later in Frans’ part.
In case you missed it, our CEO Maarten Bloemers published a blog this month, giving insights into the state of the company and what lies ahead from an empty office.
A few noteworthy parts that I think everyone should read:
1. Silver linings
‘A big part of the GET Protocol proposition is innovation that actually benefits users. In a way this unfortunate crisis allows us to demonstrate what smart ticketing can do, beyond ‘just’ anti-scalping.
In the wake of the virus regulations with mass rescheduling and cancellation refunding, it has become clear that our top-down smart ticketing approach is superior to that of those that have half-assed it. The dynamic nature of our smart ticket provided flexibility for adjusting prices, rescheduling and our clients could communicate directly to the actual ticket holders. Refunds are executed with the click of a button without having to worry about what tickets ended up in the secondary markets.
It’s good to see that our system has taken away some of the stress and hassle that usually comes with postponement and cancelation.’
2. Saving the best for next
‘In the months leading up to the outbreak we have actively started marketing and promoting the GET Protocol proposition to the market. In light of current market conditions we have decided to save up our gunpowder for when the smoke clears.
This means that we will be saving our resources and large announcements until we are certain we can hit the ground running.
The upcoming listing will occur in accordance with the ticket sale of one of Korea’s largest K-Pop events.’
3. Coming back with a bang
‘For now, we will continue improving our ticketing product as we have been doing for years. We have the opportunity to allocate more of our development efforts to improve our system and work on extending our innovative edge over our competitors. Times are tough for all, but we believe less so for our organisation. From this crisis opportunity shall rise and we will seize it.
There is a lot to look forward to, and we are more focussed now than ever. We are monitoring all developments in this crazy world we live in, and can’t wait to roll out what we have prepared.’
Eyes on the prize
While the world is collectively not doing online work-out classes but instead watching TigerKing, don’t forget that there are developments for GET in the near future to keep an eye on!
Here are two examples:
#1 Where there’s fire…
This upcoming Friday, April 3rd, the burnback report for Q1 of 2020 will be published. As you know, all tickets issued using GET Protocol lead to GET tokens being burned at the end of the sales cycle. In this report we will see the total GET that is to be burned following the first quarter of this year, and we will find out whether it passed the record-setting amount of the prior quarter.
From the previous burn back report:
In Q4 of 2019:
The GET Protocol processed a total of 350.332 state changes.
A record number of 62 215 tickets have been issued.
To fuel these state changes a total of 98 348 GET has been burned.
You can read back the full report of the previous buyback here:
UPDATE: The Q1 burn back report is out now — a record number of tickets have been sold and GET have been burned. Here’s the full report:
#2: It’s a different time in Korea
It might seem like several lifetimes ago, but just last month we announced the arrival of a new joint venture in South Korea: getTicket. The team there is working tirelessly to get the first sale of the ground as soon as circumstances allow it.
Thankfully, it appears that Korea is winning the fight against Corona and things are slowly starting to return to normal.
The getTicket team is working towards the announcement of the first ticket sale, and if I weren’t so principally against hyping I would say that it is going to be a big one.
Meanwhile Korean blockchain press have already taken notice of the arrival of GET Protocol.
Decenter:
And HKB News:
We’ll share more details on timing as they become available to us!
More about GET Protocol
Have any questions or want to know more about what we do? Join our active Telegram channel here.
Our Korean Telegram channel can be found here, and the GET Naver page is here.
For any questions you might have, read our whitepaper, visit the website, join the discussion on the GET Protocol Reddit.
