[ANN] | GET Protocol | GUTS.tickets | Live Product

[nonokeci]

how do you compare yourself to players like aventus? and its a shame that not much marketing has been to push the product. any partnerships in the pipeline? to that end, theres nothing to see here if there's no industry adoption

[brobbel]

how do you compare yourself to players like aventus? and its a shame that not much marketing has been to push the product. any partnerships in the pipeline? to that end, theres nothing to see here if there's no industry adoption

Did you read this thread? (answer of your first question is already given)
Did you look at the website? (there is already industry adoption)
Did you read the whitepaper? (just read it)

[adrimaug]

French translation live : https://bitcointalk.org/index.php?topic=2161257

[needmoney]

how do you compare yourself to players like aventus? and its a shame that not much marketing has been to push the product. any partnerships in the pipeline? to that end, theres nothing to see here if there's no industry adoption

Our marketing has just begun. In fact, our slack is up.

Please read the details about our slack here:
https://blog.guts.tickets/opening-of-the-get-protocol-ico-slack-8518aee5db69

[psy0]

well slack can be useful it seems. I learned that there is already a whitelist going on the website.

[bitcoindima]

where can we buy coins

[needmoney]

where can we buy coins

Hey bitcoindima! Thank you for your interest.

We plan to have our token sale in October.

[bitcoindima]

thank you,
will be there also a annoucment before the tokensale will begin, and where will be the annoucment

[needmoney]

thank you,
will be there also a annoucment before the tokensale will begin, and where will be the annoucment

The details of our token sale will be announced next week. We will publish a blog post, will update here too.

[kasper-guts]

I just heard about GUTS. Very interesting project. Going over the whitepaper now.

I believe ticketing industry can really work on the blockchain, unlike other proposed industries. I have had problems trusting in other projects as they seemed not familiar with the actual event ticketing. I worked for a ticket resale company back in the days and I know how hard it is to get event organizers on board with any idea. Since you guys are already in the business, it gives me more confidence.

I also applied for the white list. When can we check if our address is saved and eligible?

Hi there Burntsnow, my apologies for this somewhat late reply. We have been quite busy the last weeks with an important verification and ticket sale event. But now that most of the client feedback from these events is handled GUTS will have a lot more development power available to interact with the community! We are certainly looking forward to it.

Concerning your white list question, if you are on the white list you should receive an email every week with updates/news about the GET-protocol ICO. As also mentioned earlier we'll be using a customized version of our smart ticketing application to streamline the ICO process. Contributors on the white list will receive an email with the instruction how to acquire a smart ticket for the ICO.  This smart ticket will serve the white listed a unique contributor address.

By using our own tested and operational smart ticketing application for the ICO we'll be able to showcase our tech as well as be certain that scammers can't duplicate our front-end to scam contributors (as the smart ticketing application is server-side)

[kasper-guts]

how do you compare yourself to players like aventus? and its a shame that not much marketing has been to push the product. any partnerships in the pipeline? to that end, theres nothing to see here if there's no industry adoption

Hi nonokeci! My apologies for the somewhat late reaction to your comment. Like others already mentioned in the thread, GUTS has been around for quite some time(founded mid-2016) now and has a live and operational product with paying customers. You can read all about in on our blog: https://blog.guts.tickets/ As an operational ticketing company with real clients to please and events to monitor we don't have the luxury of creating marketing smoke about our ICO around the clock (like all the other more conceptual phase ICO teams that you may be used to) Creating a proof-of-concept or wire-frame is a lot different from having a product that is used by real consumers in the ticketing space. A large part of the complexity in this industry shows itself in the operational phase / real consumer interaction phase.
 
We, of course, are aware that marketing is important for the confidence of the public in our concept and team, in upcoming works you'll hear more about our latest product additions and partners. So be sure to stick around  

[kasper-guts]

We have a ticket sale right now, realtime transactions: https://ropsten.etherscan.io/address/0x227878e2b4ad0055e2af98b4453909ac73efdda3

Through where people are buying tickets?

Through our smart ticketing application! What you see are the ownership changes as registered by our smart ticketing contract.

As for which event the tickets were sold for, it is a Jochem Myjer comedy show (we blogged about this show: https://blog.guts.tickets/announcement-ticket-sale-of-new-jochem-myjer-show-in-doetinchem-fd027841d990 I am not able to provide you with a link to the ticket sale yet because it was was an invite only ticket sale for members of the theatre in Doetinchem. After offering the tickets to the members the tickets will be offered/available to the public. Looking at the contract only 200 of the 700 tickets have been sold as of now, so probably the remaining +-500 will be sold publically in a few days. I'll drop a link to the public ticket sale in this thread as soon it goes live (it will sell out in minutes btw) The secondary market sales will be registered by the same contract, so even after the show is sold out on the primary market the ownership changes between consumers will be shown as well.

If you want to buy a free ticket of your own please visit https://sandbox.guts.tickets/ we sell free smart ticket over there. The ownership changes of these tickets are by the way also registered on chain (you can visit your Rinkby testnet wallet if you create an account on our smart ticketing application!) Let me know if you have any questions!

[Stavri]

I checked the project a bit. it is very similar to aventus. Aventus collected really good amount in the crowd funding. I think there is a good market cap for ticketing platforms, because of it similar projects are coming day by day.

[kasper-guts]

I checked the project a bit. it is very similar to aventus. Aventus collected really good amount in the crowd funding. I think there is a good market cap for ticketing platforms, because of it similar projects are coming day by day.

Hi Stavri, thanks for your interest! You are right in your assessment that there are some similarities with the Aventus ICO. There is some overlap in that Aventus also wants to provide a protocol/infrastructure that provides an internal primary and secondary market for ticket holders of a certain event. As finding similarities is quite easy, as both initiatives strive to solve the problems in the primary and secondary ticketing market I will focus on the differences in this post. I am not in any way trying to put Aventus down or criticize their approach/solution just want to provide you with my view on how these two companies are different.  

Difference in execution / market penetration
GUTS was founded in 2016 and has been active in the market since. As of now, GUTS tickets employs 9 people of which 6 are developers, some of these team members are relatively new, some of them have been with GUTS for quite some time. Between 6/2016 and 6/2017 this team has predominantly been preoccupied with developing and testing a ticketing system that works and is able serve the needs of both the event organizer as of the consumer using the system (so usability and UX wise) Only after GUTS had gained this valuable market experience (for examples check our blog!) in the several pilots GUTS conducted the decision was made to do an ICO in order to accelerate the growth and  further push toward more transparency and decentralization. With all these lessons gained by experience in mind, the GET-protocol white paper was written in the summer of 2017. At the moment of writing GUTS has an already live and operational product, with paying customers and a team that has formed organically of the course of 1.5 years.  Everything described in the white paper comes from a very practical 'but will it actually work' perspective and less from a 'wouldn't it be cool if' angle. I am not saying the Aventus WP is written from that angle, just mainly pointing out the GUTS white paper and its proposed and partially already realized and tested solutions are written with the operational/practical nuances of the industry in mind. Also, GUTS has already gained experience in how to onboard customers in a bootstrap manner, something you won't necessarily learn when you start off all comfortable.    

Difference in concept / solution
The Aventus solution seems to have a heavy focus on putting tickets on a name, which will mean that everyone entering the venue will have to identify him or herself with an ID or credit card. While this is approach will prevent that tickets can be sold outside of the system (as the verifiers at the venue will be able to look up to whom the ticket is registered) if will be very costly both monetarily(in manpower needed for verification) as in processing time(everybody has to be checked 1 by 1) In the past, there have been several bands that have demanded that their tickets are sold on name (there still are bands that require that) and as such there are ticketing companies specialized in that type of ticketing (Friendly Fire for example) The solution you can see working in our sandbox environment(and tested during real events) is based on phone verification via SMS(other verification methods will be added soon) In the age of mobile tickets we believe that the printed out QR has had its time and is ready to be retired. Aventus has mentioned on their blog a few weeks ago that in some cases (lower value ticket) they would consider nesting the tickets in phones cache like GUTS but they still seem to prefer to put the tickets on the buys name. While I can see that one would find that this point is quite a straw-man argument (somebody more objective should access that) I really do think that this difference is one of the more important one's concept wise. Aventus did propose a quite intuitive revenue sharing structure in their white paper for the secondary market (so that the original seller would also profit from the sales on the secondary market) GUTS currently only lets people sell their ticket for the original price (the fact that we currently do this is again more operational, but still give credit where credit is due - it is a cool idea that also inspired us in a way)

That being said, I encourage any initiative that strives to make the ticketing market more fair and transparent. It would be a 'scarcity mindset' to presume that there is only room for one blockchain based ticketing solution. Ticketmaster sells more than 500 million tickets a year (http://www.billboard.com/articles/business/6890347/live-nation-2015-earnings-7-6-billion-revenue) and has a yearly revenue of more than 7 billion US dollars (in 2015) Competition (especially blockchain based solutions) will keep us sharp and innovative, in the end it all about execution and we sure as hell are ready for it  

As mentioned you can verify everything I said by visiting our blog on Medium (https://blog.guts.tickets/), try out our Sandbox(https://sandbox.guts.tickets/) or research the 'realness/seriousness' of our clients for yourself! If you have any questions let me know.

[idoycodet]

I am interested, GUTS is a user-friendly platform that keeps the process of purchasing a ticket as simple and clean as possible for all parties involved,
because at this time very little tickets purchasing as simple and clean. good luck GUTS.tickets

[dieselmeister]

is this project same with EventChain. they support online ticket too

[kasper-guts]

is this project same with EventChain. they support online ticket too

Hi dieselmeister! I would suggest checking out our white paper and looking around on our website. Our proposed solution and team is different in so many ways I am not sure where to begin   I would also advise just googling 'Eventchain ICO reddit' and see what you get. Always research your investments with care and consider multiple sources along the way.

[coingrow]

I would like to reserve Hindi translation

[kasper-guts]

I am interested, GUTS is a user-friendly platform that keeps the process of purchasing a ticket as simple and clean as possible for all parties involved,
because at this time very little tickets purchasing as simple and clean. good luck GUTS.tickets

Good to hear you like what we are doing idoycodet! Everybody is more than welcom to join our slack group https://guts.tickets/slack to stay up to date with our updates and announcements as well as to have the opportunity to ask us questions!

[xaviernicolau]

Hey everyone! We are happy to announce that we published the details concerning our GET ICO! Straight out of our blog post:

Details of the ICO

    Date: Mid/end of November
    Duration of ICO: 14 days
    Total amount of tokens : 90 million tokens minted
    Min. cap: €2.3 million (lowered value)
    Max. cap: €15.0 million (lowered value)

Public Crowdsale | 41% |

As can the diagram shown above, 41% of the total tokens minted will be sold to contributors during the ICO period. Tokens that remain unsold after this period will be destroyed.

User growth fund | 30% |

The user growth fund promote protocol usage by rewarding both event organizers and consumers for using the GET-protocol.

GET Stability Fund | 14% |

The GET stability fund will act as an stabilizing buffer for event organizers to acquire GET so they can use the GET for their events. The stability fund acts as a siphon and will buy back GET from the market. This means that there will always be approximately 14% of the total amount of issued tokens in this fund.

Team and advisers | 13% |

Of the total amount attributed to GUTS Tickets team members 6% is distributed after the ICO, the remaining 7% is set aside for future team members. For each issuance there will always be a standard vesting period of minimally 12 months before the tokens become spendable.

Contingency | 2% |

Amount of raised funds is set aside for unexpected expenses.

ICO price tiers

The amount of tokens sold per tier will be announced at a later date. The queuing and tiering contract infrastructure will both be dynamically managed by GUTS own smart ticketing system.

Mechanics of the crowd sale

As crowd sales in the past have been riddled with chaos and uncertainty. During the GET-protocol ICO we want to prevent this type of network cluttering and general chaos from occurring. Therefore GUTS Tickets has decided to self-built queuing application.

Dynamic ICO queuing application

To manage the contributions during the ICO a custom version of the ticket queuing module will be utilized. This queuing application, which will be a customized version of our own tested and operational smart ticketing application, will serve every contributor with a unique contribution instructions at a certain time. By using this application we are able to showcase our tech while at the same ensuring that scammers can’t copy or mirror our front-end in an attempt to lure contributors.
ICO contract publication & audit

The contracts used during the ICO will be made public in the weeks preceding the ICO this will be accompanied with a bug-bounty campaign. GUTS Tickets will only use audited and tested contracts.

Details on the GET presale

A portion of tokens sold to the public have been sold to strategic partners of GUTS Tickets. These pre-sale token contributors share long term goals with GUTS Tickets and in some cases will only receive these tokens if they have delivered on a certain ticketing volume.

At the moment of publication of this blog post the GUTS Tickets advisers and partnerships have not been announced to the public yet. Subscribe to our medium blog or join our Slack channel to keep up to date with the latest developments in our quest to revolutionize the ticketing industry.

The wallet address containing the funds raised during the strategic presale will be made public.

Buy-back guarantee

We believe that the GET-protocol ICO contributors deserve a certain level of certainty for their investment in the development and roll-out of the GET-protocol. This certainty is provided by the buy-back mechanism, this mechanism enables token holders to sell their GET back to the event organizer when so that the tokens can be used in the protocol as a store of value for the event ticket value during the event cycle.
The GET-Protocol buy-back mechanism

The protocols token, the GET, has to be acquired by event organizers in order to use the protocols smart ticketing contracts that are able to transact with the consumers smart wallets. The event organizer(EO) is not able to directly acquire GET from the open market, the EO purchases the GET needed to ticket a certain event from the stability fund(SF). The price the EO will pay per GET to the SF is dependent on the market GET price average provided by the GET price Oracle (GPO). The SFs programming dictates that the price per GET will not be lower than €0.50 per GET (even if the GPO indicates that the GET price on exchanges is lower). As the EO will pay at least €0.50 per GET it buys from the stability fund, the SF will always offer the open market token holder with at least that same price.

If the average price on the exchanges listing GET is for example €2.50, the EO will have to pay the same amount in FIAT but will receive less GET in return from the SF. A higher GET price thus won't hurt the competitiveness of the ticketing protocol as the net costs (in FIAT) for the EO aren't effected by the price inflation of the token. This mechanism provides the EO with a stable protocol price while providing the token holder on the open market with a certain level of investment security.
GET price on the open market

It is important to note that the €0.50 price pegging is only internal and arbitrage between the internal GET and the open market is not possible. The GET price on the exchanges is allowed to valued in anyway the market sees fit.

Diagram displaying the fiat/GET/ETH flow during an event cycle. After the GET purchase of the EO the stability fund will buy the GET back from the market for the price provided by GPO. Source: GET-protocol white paper.

The GET price oracle (GPO)

The function of the GPO is to assess for the stability fund what a fair value
for the GET is at the moment a EO needs GET to run an event. The oracle makes this price evaluation on the basis of data input of a set of curated exchanges that list GET.

Making sense of the buy-back mechanism

From an ICO investor point of view a case can be made that this guaranteed minimal buy-back price of €0.50 ”is too good to be true”. At face value this seems like a logical conclusion as the guarantee of the GET-protocol basically promises that there is little to no risk of monetary loss. Since the investor will always be able to recoup his initial investment with profits by means of a buy back mechanism of the stability fund. This mechanism will buy GET back for a price minimal price of €0.50 / GET.

This buy-back promise doesn’t seem to make any economic sense from the perspective of the protocol itself as the buy-back price is higher that the price the protocol received for a GET at the ICO. Thus creating a net-loss from the perspective of the protocol. From this assessment one could come to the conclusion that this buy-back promise of the protocol must be simply untrue or at least unsustainable in the long run. However, this conclusion would be false, as one would have failed to distinguish the difference between the GET-protocol and the actor using the protocol; the ticketing company. This company is using the GET-protocol to serve their customers (event organizers / venue owners etc.) The ticketing company only uses the GET-protocol as a back bone/infrastructure cost to add the convenient features of smart tickets to the service they provide. The margins of the ticketing company lie in offering this full-service package to its clients, not in speculating in crypto tokens. The ticketing company, at the moment that they acquire GET, has already landed a client and thus ensured event specific revenue. As such the company won’t lose money paying €0.50/GET price as minimum fee as this base fee is just a vehicle for company to acquire the margin they make on the service they are providing.

Allocation of the raised funds
All of the funds raised during the ICO will be managed by the GET foundation. In future blogs further information will be published about the legal structuring of this foundation and how this entity will be managed and held accountable for the progress that is made in the realization of the road map targets.

More about the GET-protocol ICO

If you want know more about the GET Initial Coin Offering, read our white paper, visit ICO website, sign up for our Slack or get yourself a smart event ticket in our sandbox environment.

-the GUTS team