Part 2 — NFT Marketplace Deployer to Xircus Web3 Protocol

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Phase 3: Modularization

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Phase 4: Accessibility

The promise of blockchain is a trust-less and transparent immutable database and thus NFTs need to be visible and accessible on different devices such as browser applications, mobile devices, and smart TVs. Making NFTs accessible to any of these devices gives confidence to the creators and collectors to effortlessly track their NFT holdings either for bragging rights, net worth showcase or just collecting personally for fun.

  1. by listing the NFT on a marketplace like Opensea, Rarible, Foundation etc.
  2. by developing and launching an own NFT marketplace
  1. Cuts a hole in the pocket: The costs to sell an NFT through a marketplace is exorbitant. To get NFTs listed, you have to shell a significant percentage — then there’s a commission on the sale.
  2. No control: NFT marketplaces have their own terms and conditions. They even control the price, the number of visitors and the positioning of your NFT on the marketplace. Imagine your token on a big marketplace gets lost in a sea of other tokens. You cannot have custom features. You have to play by the rules that are not meant for your benefit.
  3. Zero Connections Or Opportunities: Once you list your tokens, all you can do is wait for someone to buy them on the marketplace. You do not have any “real means” to promote yourself on the platform — and such promotions are again very costly. Also, you are not able to connect to other sellers.
  4. Royalty Fees: On average, existing marketplaces allow up to 10% royalty fee for creators. Xircus provides flexible royalty for creators and they can get up to 15% share, and collectors can receive from 1% redistributed royalty shares after the third sale.
  5. Commission: Existing NFT marketplaces charge up to a whopping 35% of first sales. That makes it difficult for new creators and DAPPS to enter the market. Xircus eliminates this middlemen fee. We don’t have any commission on sales, only minimal transaction fees between 2.5% and up to 5%. The problem here is a successful selling strategy would require to get fans to sign up on a third-party marketplace, purchase the NFT and then pay a commission to the marketplace operator entity. It’s a total loss.

What is NFT Ticketing and how does it Work?

NFT tickets are non-fungible tokens that hold access credentials to an event. They can be used to grant fans access to concerts, theaters, nightclubs, festivals, business events, movies, live events, sports events, in-game access, and other social activities, etc. They also offer fans additional perks such as exclusive merchandise, early access, meet and greet, and backstage access, to name a few.

How NFT Ticketing is disrupting the ticketing industry

NFT tickets have what it takes to transform the ticketing experience for both fans and event organizers by solving the inefficiencies of the current ticketing process. With blockchain and Web3 technologies, we finally have what’s needed to make the ticketing industry more transparent.

  • Sell photos, videos, and merchandise as NFTs to fans who own NFT tickets.
  • Convert tickets into NFT collectibles that can be traded on secondary ticket markets. Offer fans NFTs that give them exclusive early access to upcoming ticket releases.
  • Host immersive events on the metaverse that use NFT tickets as access keys.
  • Offer lifetime NFT tickets to live events.
  • Use smart contracts to get a cut of every ticket sold on the secondary market.
  • Make more money selling lifetime pass ticket NFTs like Coachella did when they sold ten-lifetime ticket NFTs for $1.5 million.

How Xircus helps Ticketers

As we’ve seen above, the ticketing industry needs a complete overhaul, and that’s why we’ve set out to play our part in making ticketing accessible to fans the world over. At Xircus, it’s our vision to create a Web3 protocol that makes it easy for ticketers to create a tokenized version of their events’ tickets. We’ve created a seamless protocol that makes it possible to mint NFT tickets in minutes.

V1.0 Prototype in 2021 — V2.0 in Q1 2022
V3.0 Q2 2022
V4.0 Q3 2022 and V5.0 Q4 2022

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Xircus Web3 Protocol

Xircus is The first WEB3.0 consensus that enables you to build your own dApp; shortest time-to-market / cost efficient / easy to setup >>>