The revamped version of Get Protocol, OPEN Ticketing, is on a mission to innovate the event and ticketing industry with its new OPN RWA module, inspired by the innovative financial strategy behind the Bowie Bond.
In 1977, the bond transformed David Bowie’s future music royalties into $55 million through asset-backed securities, enabling the icon to reclaim song rights and share profits with investors.
Despite royalties backing the Bowie Bond, OPEN reveals the potential for bonds supported by future ticket sales or other on-chain assets, offering new investment prospects for artists and their fans.
Unlike traditional methods, the web3 ticketing platform integrates blockchain and fractionalized NFTs to revolutionize event financing, providing artists and organizers with fair funding opportunities, poised to reshape the industry.
Learn more: OPEN Ticketing Ecosystem Launch To Transform Global Ticketing (nftplazas.com)
Source: X (OPEN Ticketing)OPEN Ticketing Challenges the Status Quo
Historically dominated by major players like LiveNation, the entertainment industry’s financing mechanisms have often faced criticism due to high fees and the exploitation of fans and artists. Few alternatives challenge LiveNation’s stronghold.
The launch of the OPN RWA module represents a significant shift. It leverages blockchain technology to decentralize and democratize financing within the sector. Tokenized and fractionalized NFT tickets enhance transparency and accessibility, moving away from opaque, centralized financial practices.
Facilitated by this blockchain module, real-time settlements broaden investor participation in large-scale events, fostering fair financing. Stringent loan terms, enforced by blockchain, address common issues like late payments and defaults in traditional event financing.
With these innovations, OPEN Ticketing’s OPN RWA could challenge LiveNation’s dominance, signaling a fairer, more accessible era in entertainment financing.
The ultimate aim is to give artists and fans better terms and more control over their engagements.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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