The HelloSugoi Live Entertainment Ecosystem
“We cannot solve our problems with the same thinking we used when we created them.” — Albert Einstein
A new model for the live entertainment industry
As I’ve written about before, buying tickets sucks. Exorbitant fees, inflated secondary market prices, fraudulent resellers… the list goes on and on.
To solve these problems, we’re building a new model for the live entertainment industry. Our mission is to facilitate a verifiable, transparent, and decentralized means to create events and buy tickets. Our ecosystem maximizes secondary market revenue for event organizers while mitigating event ticket fraud for consumers.
Little progress has been made in terms of the meaningful adoption of blockchain technologies within the live entertainment industry. Why? Because blockchain integrations have been brick-walled by exclusive venue contracts, lack of understanding/education, and long standing insider relationships. Trying to change the current paradigm has proven difficult, if not impossible. Furthermore, the approach taken by many blockchain live entertainment organizations miss the point when they talk about “disrupting” or “disintermediating” the current model.
A better approach is to ask: How can blockchain technologies create new types of abundance? The answer is to build a new business model, one that puts the interests of performers and consumers before the interests of faceless corporations; one that gives them the choice to either remain in the existing system of control, or to find creative independence. HelloSugoi intends to provide an exit from the existing industry by building a new standard for event ticketing experiences, distribution, and monetization.
The HelloSugoi Ecosystem
We’re developing the core protocols necessary to operate a decentralized live entertainment ecosystem. We seek to enable the benefits of blockchain technologies (verifiable ticket ownership, programmable secondary market management, and efficient revenue settlement), while making it easy for event organizers to manage events and consumers to buy tickets. For example, event organizers can cap the price at which a ticket can be resold on the secondary market, preventing resellers from price alienating fans, and enabling consumers to pay more reasonable prices for their tickets.
We’ve ultimately succeeded when anyone can leverage the power of our ecosystem without having to know a thing about blockchain technologies.
An easy way to think about our technical stack is to compare to how a house is built. You start by pouring a strong foundation, then you build the frame, insert the doors, windows, plumbing, electrical, etc. When that’s done, the floor plan starts to take shape; kitchen, bathrooms, and bedrooms give the house a means by which you can identify one room from another. Lastly, you add the furniture and decorations to give the home a unique look and feel.
Protocol Layer — the foundation
The Protocol Layer consists of the open-source smart contract infrastructure, which contains the foundational technologies needed to operate a live entertainment ecosystem. Our smart contracts include:
- Event Creation*
- Revenue Splits*
- Ticket Purchasing*
- Ticket Transfers*
- Ticket Refunds*
- Secondary Market Ticket Auctioning^
- State Channels (Ticket Purchasing/Ticket Scanning)^
- Revenue Withdrawal*
- Stabletoken Integration (Dai, Sweetbridge, Havven, Augmint, etc.)^
- Non-Fungible Token Tickets^^
- Cross-chain Ticket Purchasing (Polkadot)^^
- Incentivized Sharding^^
*Audited and deployed to the Ethereum MainNet
^^On our development roadmap
The next phase of development will include the Event Financing Protocol to facilitate, verify, and enforce the negotiation and execution of live entertainment agreements. Smart contracts will be leveraged to facilitate value flow between event stakeholders. Deal terms will execute autonomously on the blockchain when certain terms and conditions of the agreements are met. Examples include artist payments, venue contracts, sponsorship deals, and vendor service agreements.
The final phase of development will include the Global Access Protocol to facilitate new kinds of ticketed experiences such as transportation, hotel reservations, coupons, car rentals, vacation reservations, course registrations and more.
Identity Layer — the floor plan
The Identity Layer facilitates stakeholder reputation and enables event organizers to verify ticket ownership and mitigate fraudulent reselling. Buying and selling habits will be analyzed to detect good actors and bad actors, thus holding stakeholders accountable to their actions to the benefit of the entire ecosystem.
Application Layer — the decorations
The Application Layer will provide configurable mobile and web components for third-party developers to create custom user experiences.
Just like everyone’s home is decorated differently, there’s no “one-style-fits-all” solution for live events. Every event requires its own set of custom features. Although we’re building our own branded UI (HelloSugoi ticket widget), our protocol is designed to enable third-party developers to leverage the core functionalities of the protocol without compromising custom features. We’ll work diligently with event organizers to build the necessary tools to best suit their individual needs.
We’re very excited for what the future holds. The protocol we’re building is designed to best meet the needs of all event stakeholders. We’d like to encourage the developer community to help us in building the tools necessary to facilitating our vision of creating an honest, transparent, and decentralized means to create events and buy tickets.