GET September ’23 — Keeping the Good Times Rolling
Welcome one and all to another GET Protocol monthly blog, which is being written at this very moment from 27,000 feat in the air, heading back to Amsterdam from a successful IFF London trip. We’ve got plenty of interesting topics to cover in this blog that will hopefully make you feel sky high too — so buckle your seatbelts and let’s fly into it.
Ongoings around the protocol
To start, lets take a look at a few events occurring through GET Protocol by integrators this month and onwards into October.
Castagne Streghe E Dintorni — Wicket Tickets
First off we have Castagne Streghe E Dintorni faciliated by Wicket Tickets in Italy. The event combines two rather curious topics — chestnuts and witches! The aim of the event is to rediscover the area of Rovenna and its traditions in an event that directly involves the historical centre of the town. The event fascinates thousands of people every year ( with up to 8,000 visitors).
Shop Link:
Ragers Night Show — DeFy Tickets
DeFy Tickets have a brand new event under their belts — Ragers Night which we’ve been told is all the rage with locals. Playing the hottest rap and hip hop tracks, this Los Angeles event is an exciting addition to DeFy’s roster.
Shop Link:
https://app.defytickets.com/f68rt0-ragers-night-show-3/x78e5l
Stats for September
During the month of September, a total of 83,536 tickets & collectibles were issued by protocol partners across 414 events. To fuel this ticketing activity, partners utilized roughly 25,034 GET which has been locked into event smart contracts.
A Message from our CEO, Maarten
Just like witnessing children mature and become independent, we are thrilled to announce that starting October 1st, GUTS will embark on a journey of self-reliance, moving forward independently from the User Growth Fund.
From the onset, our vision for GUTS was to flourish autonomously in one of the globe’s most competitive ticketing landscapes; the Netherlands. The proposition thus offered to potential white labels is not just strong — it’s a promising gateway to robust growth and development.
It is therefore why GUTS will organically source top ups direct from the open market for ticketing activity beginning October 1st!
White-Label Pricing
Furthermore, after two insightful years of testing and refining, we have optimized our SaaS solution to be more cost-effective, creating a win-win scenario for both GUTS and our White-Label partners. With our revised pricing, white-labels can anticipate enhanced profit margins as sales volumes increase:
Pricing resets each calendar year & importantly volume within the threshold is paid at the fee tier indicated above, meaning that even if volume goes above a threshold, then the volume below is still paid at the fee tier for that threshold. For example any volume below $500,000 would pay a 2% fee, any volume between 500–1 Million will pay 1.5% and so forth.
Our innovative pricing model is designed to foster partnerships with more white-labels, ensuring consistent earnings even if ticket sales fluctuate. Moreover, it champions transparency in pricing — a groundbreaking approach in the industry — while serving clients across the globe with unmatched dedication.
UGF
Exciting developments are on the horizon for the UGF, following the successful conclusion of our recent Seed round. Tokens are allocated to vesting contracts, with a linear unvesting period of 12 months, post which, investors are obligated to stake the tokens into xGET for a minimum of one year. This thoughtful approach ensures the tokens are secured, allowing ample time for our organization to evolve and adapt to a landscape where market demand determines the bottom of the token’s value.
You can view the token vesting contract below:
https://etherscan.io/address/0xc2d456b8dDf6ba5F38a09c252DAAe231C45200E9#readContract
Honda & Animoca — Japan Grand Prix Experiences
We had the pleasure of working closely with the Animoca team and their wallet provider Gryfyn, to design and distribute collectibles tied to Honda’s event experiences at the Suzuka Japan Grand Prix. At the race Honda held a VIP Welcome Event and an On-Site Booth & Experience to which we put together a creative concept that encapuslated the two events, Honda’s heritage and the race experience as a whole.
These Collectible were given over several distribution mechanisms. The primary being a lottery that users entered before the race weekend which if successful granted entrance into a VIP welcome event with Honda and Redbull. Those that were successfully chosen from the lottery received a Victory collectible and a further VIP event collectible distributed to attendees of the event that purchased a ticket through Honda. Lottery losers also received a consolation collectible. The final two collectibles were given out on-site by Honda and Gryfyn the wallet provider. The mechanism was done direct to attendees and their Gryfyn wallets.
Both Honda and Animoca were incredibly happy about the distribution and campaign with everything going off without a hitch. This event showcased not only how collectibles can engage active audiences but also create a touch point that Honda and Animoca can use to connect and engage the holder at later moments.
Check out some of the PR coverage around the activation here, here & here.
Recapping — International Festival Forum & World Football Summit
Over the last two weeks we’ve attended back to back conferences in Sevilla and London. For the WFS in Sevilla, we networked with industry professionals in the football and wider sports industry, showcasing how our Digital Twin and ‘Event Linked Collectibles’ can be used as a revenue, loyalty and fan engagement tool on top of their existing infrastructure and campaigns. The audience at the event mixed between football clubs, leagues, fan apps, communities and even scouts and bodyguards. Speaking with football clubs has always been very insightful to see where their overall digital strategy is heading and how Web3 plays a role within this. Where we currently see the most tangible opportunities is with sports marketing apps, fan apps and fan communities as these businesses are actively looking for new ways to bring attendees and fans into their ecosystem and work closely with existing clubs in a way that gives them agency to put new technology in place and interface it with shared IP from the club themselves.
Across the English channel, we arrived in London which housed the International Festival Forum for another year. Here booking agents, promoters, venues and event organisers gather to set new deals in place for the coming festival rotation. September and October is a prime time within the industry as it sits between a lul where the year’s festivals have mainly concluded and the ticketing sales for the following year have yet to begin, ideal for meeting new prospects!
Here we conducted a round table with a number of professionals from both ticketing, event organisation and artist management to discuss the latest technologies and their impact on the industry as a whole. Given the whirlwind of technological improvements over the last year, we picked up great insights from attendees and simultaneously gave them a look at how we’re viewing and interacting with innovation. Topics covered the relationship of data & artist control, the ever building need to build fan communities and understand who attends an event and of course AI & Web3.
As the festival continued we spoke to promoters and event organisers who showed great enthusiasm not only to our incredibly competitive pricing but also to the money they could make by controlling their secondary market — given the new pricing structure in combination with the controlled resale potential on offer, we’re incredibly enthusiastic that there’s a great product market fit in the sector and hope to report back in the coming months with fruits from these discussions.
Wallet UI
On the protocol development side, we’ve been hard at work putting the final touches into the Wallet UI to ensure it’s ready and raring for bringing mass accessibility to Web3 and Collectibles for the events industry. We’re gearing up for a launch in October which we’ll roll out to the community along with the first Memories launch, can you guess what the first memory will be? 👀
As for our approach to DT integrators, the White-Label and new prospects, we’re packaging the Wallet UI and overall approach for the DT into our ‘Event Linked Collectible’ proposition, which is resonating with new prospects incredibly well. Here we focus on three tangible pillars for revenue — as an advertisement canvas, a mechanicsm for ticket upsells and new post-event loyalty programs.
For the White-Label we’re taking a methodical approach to the way we link this into the user journey & once we feel ready on this front, we’ll be approaching existing clients and prospects to show them the possibilities first hand as part of their overall ticketing experience.
Gearing up for ADE & Beyond
As Amsterdam Dance Event is around the corner, we’re gearing up to showcase our technology to the brightest minds in the dance community. Firstly we’ll be conducting a roundtable with new prospects and warm contacts alike. We’ll also be planning a number of promotional opportunities, with a few hidden surprises up our sleeve which we’ll be sure to let you know about.
Along with ADE, we’ll be heading to Lisbon and Madrid in November for both Web Summit & Sports Pro Madrid, to meet and foster a relationship with new prospects and strengthen our network effect in the sports and events industries.
That’s it for this month’s blog, we hope you’ve enjoyed reading about all the ongoings of the protocol and look forward to welcoming you back here again this time next month.
As always make sure to follow us on Twitter and we’ll see you in October, until then!
