First of all, a little short introduction on what GET protocol is:
The GET Protocol offers a blockchain-based smart ticketing solution that can be used by everybody who needs to issue tickets(NFTs) in an honest and transparent way. To date over 650.000 have been sold. It didn’t only end ticket scalping but offers many advantages to event organisers, artists and fans.
Why I’m looking forward to the coming weeks and months.
After very bullish first months of 2021 for GET the sentiment has turned around at the beginning of April. Many people took profit and GET/ETH is down around -66% since. I personally think this is the perfect enrtry and there are many catalysts to turn it around.
First of all there was no real reason for the selloff. It started with some large holders taking profit and others panicking. This is normal and happens with every project after such rallies. Fundamentally nothing has changed. It did give everyone else a nice entry!
In the last quarter GET protocol processed 216 163 ticket statechanges and conducted buybacks from exchanges and burned tokens worth $57 220 at the moment of burn. This quarter already 172 520 statechanges have been processed. 17 249 tickets have been sold in the last 24h! GET is alive and kicking!
Looking at Israel: they are almost covid19 free after vaccinating around 60% of the population. Most Western countries are weeks away from being at the same place. This means that we’ll most likely see a lot of restrictions being easened in the following weeks/months.
With that we’ll see a lot more events. Knowing that the ticketing volume in general is probably down more than 90% due to the virus, I think it’s safe to say that the number of tickets processed will increase by a big factor in the coming period (and with it the buybacks!)
Fundamentally nothing has changed. NFT tickets are still hot and many famous entrepreneurs are not only endorsing it but want to implement it. When you read them describing how ticketing should work in the future, it’s like they’re word by word describing GET protocol.
The great thing about GET is that anyone can easily set up their own ticketing company on top of it (being an integrator through “white-labeling”). GET only offers them the tools to do so. And the requests keep piling in (3 a day on average from parties all over the globe).
With the protocol shifting to complete decentralization, it will be governed by the token holders. The logical step is for them to buy themselves in. And some big whale accounts have already been doing so, even during this dip. For example this wallet
(the wallet is worth around 90 million $ and has been accumulating GET even during the dip – smart money is buying).
The advantages of NFT tickets compared to regular tickets are obvious to everyone. Another amazing thing is that the ticketing companies, that integrate the tools GET offers, feed from eachother and take eachother’s strong points. They improve one another!
So what can we expect in the near future?
We’ll see a lot of ticket sales and buybacks, that’s for sure! Not only will the lifting of restrictions boost the ticket sales of GUTS but all the new integrators will thrive as well!
In the last blog it was hinted that several new integrators, in several countries across the globe, will be integrated on the short term. There are also talks with big players in the US of A! Just one big name joining (which is inevitable) will create a lot of hype.
The new NFTticket explorer is set to be released on the short term. This will be a groundbreaking explorer that will let you check the validity of your ticket and the entire history it went through. Much needed transparency coming to the ticketing world!
Eventhough I believe that GET’s tokenomics are one of the best in the space and will push the price organically, even improved ones are on the way! With event financing coming, another layer that captures value will be added to the token.
DAO – governance
As stated above: GET protocol will be a fully decentralised protocol in the future. The first steps towards decentralisation have been taken. 10 million GET tokens have been burned and 2,6 million tokens (worth 15 million$ at the time of writing) will be governed by the token holders.
These are just some of the catalysts that will change the sentiment. GET is still miles ahead compared to most crypto projects when it comes to adoption, tokenomics, the problem it solves, … It just lacks hype but imagine one of those big shots like Mark Cuban mentioning GET, let alone implementing it. The sky would be the limit even on the short term!
We like to joke around in the community that 1000$ is programmed due to the increasing demand (buybacks) and decreasing supply (the bought tokens are burned forever) but one thing is certain:
Time is in favour of GET holders and patience will certainly be rewarded!