Update March ’19
Klaytn, a record breaking sale, the biggest buyback to date, and international progress: it’s been a newsworthy month to say the least! Catch up on everything going on with GET Protocol right here.
There are a lot of developments to dive into, so grab a snack and a drink and settle in!
For the record!
It already seems like ages ago, but we started off this month with a huge sale and a notable new record. On March 2nd, roughly 50.000 tickets were sold by GUTS Tickets in approximately 2 hours. This was a 33% improvement in speed over the September ’18 sale of a similar amount of tickets. A pretty decent step forward!
The sale was for tickets to Holland’s insanely poplar comedian Jochem Myjer, and it included several venues, spread out over the country. All consumers in the waiting line were given the possibility to highlight their preferred venue, and shown the likelihood of getting tickets for the venue of their choosing. If, during the time spent waiting, the tickets for that specific venue sold out, the consumer was given the choice of other venues where tickets were still available.
The sale resulted in 118.000 unique users visiting the GUTS website, and causing the GUTS Tickets app to trend on the Google Play store and top the charts as the most popular free app in the ‘Amusement’ chart in the Dutch iOS App Store. Due to Jochem Myjer’s unbelievable popularity, there were still people who had to be disappointed.
On the day of the sale, the GUTS Tickets app was downloaded over 2000 times. As per this writing, the total amount of app downloads is:
Android: 11,875 active installs.
iOS: 16,945 App Units.
The sale and the update record also captured the attention of local and international press outlets, resulting in some cool publications.
Some international attention for GUTS Tickets and the new record:
IQ Mag
TicketingBusiness
ChepiCap
MGB mag (French article, requires a subscription)
Mainstream news in Holland covering the sale:
Nu.nl
RTLNieuws
This newly successful stress test proves that GUTS Tickets and GET Protocol are both ready for big(ger) things. The doors are now open for more large-scale and international events, which will be the focus for the time to come.
Time to come? As in now?
Yes, now! If you were on some sort of tech-free ayahuasca retreat for the past week you may have missed the big news. If so, hope you had a great time, and also: GET Protocol will join the Korean ‘Klaytn’ blockchain platform as an initial service partner.
This is exciting news, as we believe to have found a partner in Klaytn with a similar vision on mainstream blockchain adoption with a significant and reliable backer: Kakao, Korea’s largest mobile platform, with over 50 million monthly users.
About Klaytn:
“Klaytn is a service-centric blockchain platform that provides easy development environment and friendly end-user experience. It is an advanced hybrid platform, combining an enterprise-grade performance based on solid reliability and significant stability with an open access in a decentralized trust system. The platform allows real world applications of large scale to be produced right away.”
The Klaytn blockchain is being developed by the blockchain subsidiary of Kakao: Ground X.
In the coming months, we will actively be exploring and testing the technical capabilities of Klaytn, with every intention of joining their blockchain when it goes live and the Ground X team delivers on their goal of developing a scalable blockchain platform.
Ground X recently raised 90 million in a private coin offering for Klaytn, and plans to raise more in the time to come.
Of course it is still early days, as the Klaytn mainnet is scheduled to go live in June of this year. Thus it is important to note that the time to come is meant to further examine whether the partnership can lead to the expected and desired results, on the areas of business development as well as the technical side.
If this proves to be the case and we find that a move to the Klaytn blockchain will be beneficial to GET Protocol, its users and its community, we will make the switch. This will not be in the near future, so no action needs to be taken with regards to your tokens. As we have stated before, GET Protocol has always remained blockchain agnostic, hence a move like this would have little to no impact on current and new business.
If indeed a token swap will take place, we will announce this way ahead of time, along with a summary of our findings and motivation for the switch. Either way, we will of course not be diluting the value of the token.
We are very excited about the vast array of new possibilities already emerging from this partnership, and we will keep you updated on relevant developments as they move along.
From Klaytn:
“GET Protocol will be the first BApp in the ticketing vertical to partner with Klaytn. With Kakao’s market influence at large throughout various life-style services in Korea, the partnership is expected to cause much synergy in bringing real-life blockchain use cases to the market…”
The news was picked up by outlets from across the world, here’s a quick overview:
Korea:
Other parts of the world:
Press release:
And that’s not the only news!
New country
Get in the Ring Chain Reaction is the first event GUTS will be ticketing abroad! It will take place in May of this year in Cyprus. Tickets are available here:
Get in the Ring have previously ticketed events in Holland with GUTS, but this will be the first time we take the system across the borders.
“Get in the Ring is a global network of organizations that collaborate to tackle challenges faster. Together with partners in more than 100 countries we unlock opportunities for innovators like you. We connect and support you to grow faster and increase your global impact.”
After conducting several pilots with Get in the Ring and extensive testing of all facets of our system, we are excited to start getting more international experience under our belt.
It has already been a great and productive partnership, and we look forward to an even brighter future!
New band
This month another new artist joined the fight against dishonest ticketing. Popular Dutch band De Staat announced a new set of dates for their tour, one show of which is going to be ticketed by GUTS!
A popular song and video from De Staat, which you may have seen:
You can get fair tickets for De Staat here.
New shows
The Australian-British band Dead Can Dance is coming back to Utrecht for two shows in May. Both shows are sold by GUTS Tickets.
Monday May 13th:
Tuesday, May 14th:
New sector
Podcasts and everything related to them are growing in every direction, including the event sector. For us this is means that we will be ticketing our first live podcast recording, for the last episode of this season for the ‘Man man man’ podcast. For tickets, check out the link below.
New wallet
The GET token is now supported by the Ethos Universal Wallet. About the wallet: ‘Store all of your tokens, coins and digital assets safely and securely on your mobile device. Track assets you have stored elsewhere — such as a hardware wallet or an exchange. Ethos Universal Cryptocurrency Wallet gives you a complete view of your entire portfolio in one place, with rich analytics to show your performance.’
New video
We are continuously producing and releasing more videos on the GET Protocol Youtube channel. Check out the latest video, titled ‘What is the use case of GET Protocol?’ below:
[Vlogger voice:] Make sure to like & subscribe! Gucci!
Reviewing the Q1 2019 buyback
From blockchain developer Kasper Keunen.
On Wednesday March 27th, the first buyback of 2019 occurred. At exactly 14:00 local time the largest buyback to date for the GET Protocol opened. Just a few seconds later the demand for GET by GUTS Tickets’ 132 events ticketed in Q1 of 2019 was filled. In total, more than 72 000 GET was bought back from the open market.
The buyback -totalling €36 055 worth of ETH- was the biggest in size to date and attracted a large number of participants. The difference between the auction’s minimum buyback price (€0.50/GET or 0.00418 ETH/GET) and the open market prise posed a huge arbitrage opportunity for those able to participate.
First come, first serve?
The buyback’s quick ending sparked a lot of community discussion on the rules of the auction. With the main reason being that the participating sender that came in first paid more than $1300 in transaction fees. This type of participation is completely legitimate by current buyback rules. If you are interested in why we have taken this ‘less is more’ approach to rules surrounding the buyback, this is best explained in the following blog:
Improving the buyback mechanism
We do think there is some room for improvement when it comes to making the buyback more accessible. In the upcoming weeks you can expect a review on the buybacks rules and overall mechanism. This review will possibly lead to a set of new rules that will make future buybacks economically more efficient and generally more inclusive.
We love it when the community helps us in improving the protocol. If you have ideas or general feedback about the buyback we’d love to hear it on the GET Protocol subreddit!
Those that participated in the buyback can expect to receive either GET or ETH on the address they participated with before Saturday.
See you at the next one!
Technical development
The GUTS ticketshop is now easily integrated as an iframe embed on the websites of artists, theaters and festivals. In order to optimize its effect, we made a new design that is even more user friendly and aimed at creating maximum sales conversion.
To create a seamless integration, the look and feel of the ticketshop can be completely customized to match the branding and style of the hosting website.
The integration of the ticketshop is as easy as adding some simple code to the host’s website. The new design will soon become the standard for the GUTS website as well.
And that concludes this month’s update blog! We are very excited about the recent developments in our quest for worldwide honest tickets, and hope you are too.
More news next time!
More about the GET Protocol
Any questions or want to know more about what we do? Join our active Telegram community for any questions you might have, read our whitepaper, visit the website, join the discussion on the GET Protocol Reddit. Or get yourself a smart event ticket in our sandbox environment. Download the GUTS Tickets app on iOS or Android.
