CyphrLive Ticketing

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I am a team member of Tokhun.io, another cNFT platform, that recently deployed to mainnet.

Fees typically include service fees, convenience fees, ticket fees, order processing fees, printing fees if printed at home, shipping costs for physical tickets, facility fees and taxes. In many cases Artists/Performers typically secure between 20% and 40% of the overall sum of a ticket price and generally have to wait more than 7 days for a payout from larger events/tour dates.

Event creation deploys a smart contract on the platform which users will interact with during transactions for that particular event

User buys a ticket > Smart Contract mints cNFT as a proof of purchase mechanism > User attends event with QR code for in-person or application authentication for streamed event > Smart Contract burns cNFT as proof of entry/access mechanism.

All of the Smart Contract behavior (cNFT minting/burning/authentications) take place on the back end. No wallet required for event attendees and no custodial issues for the cNFT's themselves. Event creators are paid to connected wallet (Nami, Daedalus, etc) in full at the moment of ticket redemption. 1% Platform fee + associated minUTXO's are subtracted at time of ticket purchase.

## Who are we?

Chris Hockaday. Team membership will expand as required by development.

## Why are we asking for funding to build this application

I am heavily involved in various community projects and need the funding to secure increased server overhead, hired developer expertise and auxiliary unforeseen costs.

# Success of this proposal

Implementation is not a question. Marketing this platform to a broader audience is. We want to make this option blaringly obvious to touring acts and various performers that have a global reach. Securing a single act is success.

# Launch Date & Timeline

The deployment can be made live on Cardano within 2 months of funding.

## Budget

The cost of operating this tool is estimated as follows:

The monthly cost breakdown,

Maintenance Cost as Developer Salary -> 1000 USD

Server and infrastructure cost -> 500 USD

Total Monthly Cost -> 1500 USD

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We are asking for a budget of 6 months,

Monthly Cost x 6 -> 9000 USD

Total Funds Requested - 9000 USD