[TEX] Ticket Market NFTs: Revolutionizing Event Ticketing with NFTs Using the Cardano Blockchain

[GENERAL] Name and surname of main applicant

Le Dinh Minh

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Not Incorporated)

[GENERAL] Requested funds in ada

100000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

9

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

Yes

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Ticket Market NFTs - NFT event ticketing platform to preserve attendee memories as digital collectibles while preventing counterfeiting, ensuring security and authenticity for all system users system.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

Our project will provide open-source access to key components, including smart contracts for NFT ticket issuance and verification. The platform's frontend and backend codebase will be shared under a permissive license, encouraging community collaboration and transparency. Additionally, documentation and APIs for integration will be publicly available to allow event organizers and developers to contribute, customize, or extend the system. We aim to foster an open ecosystem around NFT-based ticketing, contributing to the broader blockchain community and driving adoption through transparency and innovation.

[METADATA] Horizons

NFT

[SOLUTION] Please describe your proposed solution

Our solution is to create a blockchain-based NFT ticketing platform, designed specifically for event organizers to mint and sell their event tickets as NFTs (Non-Fungible Tokens). This system allows the organizers to have full control over the ticket lifecycle, providing a more secure and flexible approach to managing ticket sales, while also offering unique benefits for users.

Key Features of the Solution:

Innovative Use of Technology

• Event organizers can mint their own tickets as NFTs directly on the platform, ensuring authenticity and ownership are tied to the blockchain. This eliminates the possibility of counterfeit tickets and gives organizers control over ticket distribution. Organizers can set the price of each ticket, and all transactions are recorded transparently on the blockchain.

Resale Flexibility and Pricing Control for Users:

• After purchasing a ticket NFT, if users are unable to attend the event, they can resell their tickets directly on the platform. Unlike traditional ticketing systems where users may be stuck with unusable tickets or forced to sell on secondary markets at inflated prices, our platform enables them to set their own resale price. This allows users to trade fairly within the community, without fear of price gouging or fraud.

Proof of Attendance and Digital Collectibles:

• NFT tickets are not just for event access—they also serve as digital collectibles. After attending an event, the ticket remains in the user’s digital wallet as a memento, carrying sentimental value beyond just its function as a ticket. This collectible aspect introduces a new way for users to treasure their event experiences and creates a lasting connection between the user and the event.

Prevention of Black Market and Counterfeit Tickets:

• Traditional ticket sales often suffer from black market activity, where tickets are resold at inflated prices or forged entirely. By leveraging blockchain, we eliminate these risks. Since each NFT ticket is verified and tracked on the blockchain, it cannot be forged or duplicated. Moreover, smart contracts automatically enforce the rules set by event organizers for resale, ensuring that both primary and secondary ticket sales remain fair and transparent.

Seamless Event Access:

• Users can easily present their NFT tickets at the event venue through mobile or digital wallets. Event organizers will have the ability to verify ownership through blockchain scanning, streamlining the check-in process and ensuring that only legitimate ticket holders can enter the venue.

Transparent Revenue Tracking for Organizers:

• All sales and resales are tracked through the blockchain, giving event organizers full visibility into the distribution of their tickets. They can see every transaction and adjust future ticketing strategies based on real-time data and insights. This transparency helps organizers combat unauthorized sales and scalping, as every sale can be traced back to its original source.

Benefits Over Traditional Systems:

• Security: By operating on the blockchain, the system provides an immutable and verifiable ledger of ticket ownership, eliminating fraud and counterfeiting.
• Scalability: Event organizers can quickly scale their ticketing operations without relying on third-party platforms or worrying about limited print runs of physical tickets.
• Trust: Both users and organizers have full trust in the process, as blockchain ensures that tickets cannot be tampered with or faked.
• User Experience: NFT tickets offer additional sentimental value through collectible tokens, providing a keepsake for users and enhancing overall engagement with the event.

Example Use Case:

Imagine a concert where tickets are issued as NFTs. The organizer mints 5,000 NFT tickets for the event, sets the prices, and makes them available on the platform. Users purchase these NFTs to attend the concert. If a user decides they can’t attend, they list the NFT for sale on the marketplace at their chosen price. A second buyer purchases the ticket, and the entire transaction is logged on the blockchain, ensuring transparency for both the original buyer, the second buyer, and the organizer.

If the user attends the concert, their NFT becomes a collectible in their digital wallet, serving as a proof of attendance. Organizers can incentivize users to hold onto their NFT by offering future event discounts or exclusive content to NFT holders, fostering deeper engagement and loyalty.

In conclusion, our solution leverages blockchain technology to revolutionize the traditional ticketing system by providing a more secure, flexible, and user-friendly platform for both event organizers and attendees. By addressing major pain points in traditional ticket sales—such as counterfeiting, black market activity, and inflexible resale options—this system not only protects event organizers but also enhances the overall event experience for users.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Our project, Ticket Market NFTs, will have a multifaceted positive impact on the wider Cardano community, addressing not only the needs of event organizers and attendees but also advancing Cardano’s adoption, development, and real-world utility.

1.Driving Cardano Adoption

• Mainstream Use of Cardano’s Blockchain: By utilizing Cardano for minting and trading NFT tickets, we introduce a practical, real-world application of blockchain to a mass audience. Event attendees, many of whom may be new to cryptocurrency, will interact with Cardano without needing deep technical knowledge, thus driving broader awareness and adoption.
• Promoting ADA for Transactions: All transactions on Ticket Market NFTs, including ticket sales and resales, will use ADA as the primary currency. This will increase the demand for ADA, driving transactional volume and liquidity within the Cardano ecosystem.

2. Supporting the NFT Ecosystem on Cardano

• Expanding the Utility of NFTs: While NFTs are often associated with digital art, our platform showcases their broader utility as secure, tradable, and unique event tickets. By demonstrating that NFTs can be used in real-world scenarios, we elevate the perception of Cardano’s NFT ecosystem beyond speculative trading, showcasing its potential for meaningful, everyday use cases.
• Encouraging Future Innovation: As one of the first NFT ticketing platforms on Cardano, we aim to pave the way for other developers and entrepreneurs to explore innovative NFT use cases on Cardano. By solving real-world problems like ticket fraud and black market sales, our platform can inspire further developments in areas like supply chain management, identity verification, and more.

3. Strengthening the Cardano Ecosystem

• Decentralized and Transparent Transactions: By leveraging Cardano’s blockchain for transparent ticket sales, we enhance the reputation of the network as a secure, decentralized, and trustworthy platform for financial transactions. Every ticket sale and resale is logged immutably on the blockchain, demonstrating Cardano’s power in ensuring transparent, fraud-resistant commerce.
• Engaging the Developer Community: We will open-source parts of our codebase, particularly for minting, resale mechanisms, and smart contract ticket verification, to allow other developers to build upon or improve the platform. This collaborative approach fosters innovation and strengthens the technical capabilities of the Cardano developer community.

4. Fostering Greater Event Accessibility and Inclusivity

• Democratizing Event Access: By allowing users to trade tickets on a secure, decentralized marketplace, Ticket Market NFTs ensures that event access is more equitable. Users can avoid inflated prices on the black market, buy tickets at fair prices, and resell them without fear of being scammed. This makes event participation more accessible and inclusive.
• Enabling Community Engagement: The ability to hold NFT tickets as digital keepsakes can foster a deeper connection between the event and attendees. By offering exclusive content or future event access to NFT holders, we enhance engagement within both the event and Cardano communities, creating lasting relationships.

5. Incentivizing Further Use of Decentralized Identity (DID)

• Empowering Users with DID: Our platform plans to integrate Decentralized Identity (DID) for secure, verifiable user identities without relying on centralized authorities. By giving users control over their own identity data, we are helping to promote the adoption of Cardano’s decentralized identity solutions. This not only enhances privacy but also encourages users to explore other Cardano-based applications that leverage DID.

In summary, Ticket Market NFTs will drive real-world adoption of Cardano, increase ADA usage, and showcase the blockchain’s potential for solving complex problems in the ticketing industry. By fostering innovation, transparency, and inclusivity, our platform will have a lasting positive impact on the Cardano ecosystem, positioning it as a leader in blockchain-based ticketing solutions.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our team comprises two experienced instructors in the Blockchain field, who have successfully raised capital in rounds 10 and 11 of Cardano. We also have three team members with extensive knowledge of Blockchain through various courses and hands-on experience in building Cardano-based systems. Our diverse skillset includes proficiency in programming languages such as Haskell, Python, Java, .Net, React, and expertise in developing a range of applications including web, and mobile games.

With this project, we achieved first prize in the school-level scientific research competition.

Therefore, we understand the business, the technology to develop the website, how the Cardano blockchain works, how to create NFT... as well as the collaboration between the members. The next stage is to develop more features and optimize the website, so we are completely confident that we will bring the project to the goal.

As proof of knowledge and research skills, some of our current proposals funded are attached:

• Proposal funded 1: “Tamper-proof Certificate System”
• Proposal funded 2: "Study guide for Marlow"
• Proposal funded 3:"CareBlock: Empowering secure healthcare transactions by Cardano"
• Article 1: "Sinh viên Nghiên cứu khoa học với Blockchain Cardano"

To ensure effective money management, we implement the following strategies:

• Budget planning: We carefully allocate funds to different project areas, considering development, operations, and marketing expenses.
• Transparent expense tracking: We maintain a clear record of all expenditures, promoting accountability and providing visibility into our financial transactions.
• Periodic reports: We generate regular reports to evaluate our financial performance and make informed decisions.

These practices help us maintain financial stability, optimize resource allocation, and enhance overall financial management.

Transparency and communication are key principles of our project. We prioritize open and honest communication with all stakeholders, providing regular updates and fostering a collaborative environment. This ensures that everyone is well-informed and actively engaged in the project's progress and decision-making process.

To validate the feasibility of our method, we will use both quantitative and qualitative measures.

Quantitative validation:

• Number of upgraded and added modules via GitHub.
• Report the number of users on the system.

Identity verification:

• Conduct user satisfaction surveys.
• The level of excitement when introducing the project to users.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Project Initiation and Planning (2 months)

• Define Scope and Requirements: Finalize the functional and technical specifications for the NFT ticketing platform.
• Team Formation: Assemble a team of developers, designers, and marketing specialists.
• Research and Analysis: Conduct market research on existing ticketing solutions and user preferences.
• Infrastructure Setup: Prepare the necessary servers and cloud services for development.

Platform Development (3 months)

• Core Feature Implementation: Develop the main functionalities, including NFT minting, ticket sales, and user interaction.
• Smart Contract Development: Create and deploy smart contracts to handle NFT transactions securely.
• User Interface Design: Develop user-friendly interface templates for the platform.
• Integration of Payment Systems: Set up a payment gateway for users to purchase NFTs easily.

Testing and Quality Assurance (2 months)

• Conduct Pilot Testing: Run initial tests with selected events to gather user feedback and identify issues.
• Bug Fixing and Improvements: Address any bugs and refine features based on pilot testing results.
• Final QA Testing: Ensure that all functionalities are tested thoroughly and meet acceptance criteria.

Marketing and Community Engagement (1 months)

• Develop Marketing Strategy: Create a detailed marketing plan to promote Ticket Market NFTs to potential users and event organizers.
• Launch Community Initiatives: Host events or webinars to educate users about the platform and its benefits.
• Feedback Collection: Engage the community to gather insights and suggestions for further improvement.

Launch and Post-Launch Evaluation (1 months)

• Official Launch: Go live with the Ticket Market NFTs platform, enabling users to purchase and trade NFT tickets.
• User Onboarding: Provide onboarding materials and support for new users.
• Post-Launch Evaluation: Assess the project’s performance, gather user feedback, and identify areas for future development.
• Future Development Roadmap: Develop a plan for ongoing enhancements based on user input and market trends.

These milestones will help ensure that the Ticket Market NFTs project progresses systematically and successfully, addressing key aspects of development, testing, marketing, and evaluation.

[RESOURCES] Who is in the project team and what are their roles?

Mr. Tran Huy Hiep: Project Manager/Technical lead

Experiences: 

• DevOps Engineer at Samsung R&D.
• Frontend: ReactJS, Angular, NextJS.
• Backend: Java Spring Boot.
• DevOps: Aws, Docker, Azure, Jenkins, Kubernetes
• Blockchain & Sustainability Researcher.
• Two years of building and operating on the Cardano Blockchain platform.

Contact:

Email: tranhuyhiep0710@gmail.com

LinkedIn: linkedin.com/in/tranhhiep

Github: github.com/TranHuyHiep

Mr. Bach Trinh: Full-stack Developer/Blockchain Developer

Experiences: 

• Software Engineer at GrapeCity
• Frontend: ReactJS, VueJS.
• Backend: .NET Core, Dapper, EF Core, SQL, Redis…
• DevOps: Docker, Kubernetes, Azure, Nginx…
• Blockchain & Sustainability Researcher.
• Two years of building and operating on the Cardano Blockchain platform.

Contact:

Email: txbach.11@gmail.com

LinkedIn: linkedin.com/in/trinh-bach

Github: github.com/Bachhsunkid

Mr. Minh Le: Business Analyst/Blockchain Developer

Experiences:

• Frontend: ReactJS, VueJS.
• Game: Unity, Unreal Engine.
• Backend: .NET Core, SQL, Redis…
• DevOps: Docker, Kubernetes.
• Blockchain & Sustainability Researcher.
• Two years of building and operating on the Cardano Blockchain platform.

Contact:

Email: minhld.dev@gmail.com

LinkedIn: linkedin.com/in/dinhminhle

Github: github.com/dinhminhlh

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Here’s a detailed cost breakdown for the Ticket Market NFTs project, allocating a total budget of 100,000 ADA across various tasks and milestones:

Milestone 1: Project Initiation and Planning (2 months) - 20,000 ADA

• Define Scope and Requirements: 5,000 ADA
• Research and finalize functional and technical specifications.
• Team Formation: 5,000 ADA
• Hiring costs for project manager, developers, and designers.
• Research and Analysis: 5,000 ADA
• Market research expenses, including surveys and competitor analysis.
• Infrastructure Setup: 5,000 ADA
• Initial costs for servers and cloud services setup.

Milestone 2: Platform Development (3 months) - 40,000 ADA

• Core Feature Implementation: 15,000 ADA
• Development costs for NFT minting, ticket sales, and user interaction features.
• Smart Contract Development: 10,000 ADA
• Development and deployment costs of smart contracts for NFT transactions.
• User Interface Design: 10,000 ADA
• Costs associated with designing user-friendly interface templates.
• Integration of Payment Systems: 5,000 ADA
• Setup and integration costs for payment gateways.

Milestone 3: Testing and Quality Assurance (2 months) - 15,000 ADA

• Conduct Pilot Testing: 5,000 ADA
• Costs for initial user testing and feedback sessions.
• Bug Fixing and Improvements: 5,000 ADA
• Development costs for addressing identified issues and refining features.
• Final QA Testing: 5,000 ADA
• Costs associated with thorough testing and validation of all functionalities.

Milestone 4: Marketing and Community Engagement (1 months) - 15,000 ADA

• Develop Marketing Strategy: 5,000 ADA
• Costs for creating and implementing a marketing plan.
• Launch Community Initiatives: 5,000 ADA
• Expenses for hosting events or webinars to educate users.
• Feedback Collection: 5,000 ADA
• Costs for engaging the community and gathering insights.

Final Milestone: Launch and Post-Launch Evaluation (1 months) - 10,000 ADA

• Official Launch: 3,000 ADA
• Costs for promotional activities and launch events.
• User Onboarding: 3,000 ADA
• Development of onboarding materials and user support.
• Post-Launch Evaluation: 2,000 ADA
• Costs associated with assessing project performance and user feedback collection.
• Future Development Roadmap: 2,000 ADA
• Expenses for creating a plan for ongoing enhancements.

Total Budget: 100,000 ADA

This breakdown ensures that each phase of the Ticket Market NFTs project is adequately funded, enabling a structured approach to development, marketing, and user engagement. Each allocation reflects the critical areas of work necessary for the successful execution of the project.

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The Ticket Market NFTs project represents excellent value for money for the Cardano ecosystem in several key ways:

1. Innovative Use of Technology

• By leveraging Cardano's blockchain capabilities, the project introduces a secure, decentralized platform for ticket sales. This innovation reduces the risk of fraud associated with traditional ticketing methods and enhances user trust in digital transactions.

2. Memorable User Experience

• The integration of NFTs provides users with unique, collectible tickets that hold sentimental value. This not only elevates the user experience but also fosters a sense of community and engagement within the Cardano ecosystem.

3. Market Demand

• There is a growing demand for NFT solutions in the event ticketing industry. The project taps into this demand, potentially increasing user adoption and transaction volume within the Cardano platform. This could lead to higher fees for network transactions, ultimately benefiting the ecosystem.

4. Long-term Revenue Potential

• The platform will generate revenue through transaction fees from NFT sales and resales. This model creates a sustainable income stream that can contribute to the ongoing development and enhancement of the Cardano ecosystem.

5. Community Engagement

• The project includes initiatives like community events, educational webinars, and feedback loops that enhance user involvement. This engagement strengthens the Cardano community and promotes broader adoption of its technology.

6. Comprehensive Budget Allocation

• The detailed budget breakdown ensures that funds are allocated effectively across critical areas, including development, marketing, and community engagement. This careful planning maximizes the impact of each ADA spent, leading to efficient use of resources.

7. Potential for Scalability

• The platform’s design allows for future scalability, enabling the addition of new features and functionalities. This adaptability means that the project can evolve alongside user needs and technological advancements, ensuring long-term relevance within the Cardano ecosystem.

Conclusion

Overall, the Ticket Market NFTs project offers a multifaceted approach to addressing challenges in the event ticketing industry, providing a compelling value proposition for the Cardano ecosystem. The project's focus on innovation, community engagement, and sustainable revenue generation positions it as a worthwhile investment that can drive growth and enhance the utility of the Cardano platform.