Ticket fraud and outrageous ticket prices have haunted artists and their fans for centuries. It is estimated that 30% of all Tokens are re-sold with mark-ups between 30% and 700%! The ticket market is non-transparent.Ticket companies add unexplainable costs to increase ticket prices.
Guaranteed Entrance Tokens (GET) is a new Blockchain based event ticketing protocol that will make these crimes a thing of the past.
What Are Guaranteed Entrance Tokens (GET)?
To ensure honest ticketing, GET Tokens will act as the main currency in the smart ticketing protocol.
The Company Behind G.E.T Tokens
The GET Tokens are developed and owned by GUTS. A ticketing platform that facilitates fair use of tickets. Their smart tickets dissuade its misuse by those with criminal intent. GUTS also provides the reselling of tickets within fixed boundaries.
How GET Tokens Works
When you will buy a ticket using GET Tokens, your mobile phone becomes the ticket. This guarantees entrance to the venue. Unless you lose your phone! You can also re-sell your tickets if you want. But GUTS will not allow you to make a profit off of it.
Mission Of GUTS
GUTS are tired with the excessive profits made on event tickets on the secondary market. They want a fair, healthy and safe ticketing system that will protect its buyers. The GET Tokens will enable them to do just that.
A Brief History Of GET Tokens
The idea of the Guaranteed Entrance Token (GET) was first conceived in March, 2016. After many successful events and sufficient funding, GUTS published the first whitepaper of GET Tokens in August, 2017. In November of 2017, Initial Coin Offering (ICO) is being released to provide more funding to realize GUTS’s dream of a fair and safe ticketing system.
Development Plan Of Guaranteed Entrance Tokens (G.E.T.)
After the ICO sale, GUTS plans to make GET Tokens available to third party companies within April 2018. Within December 2018, GUTS plans to develop a wallet so that users are able to make transactions with it.
Budget Allocation For GET
The budget allocation for GET is as follows:
- 55% will be allocated to further develop the GET protocol.;
- 17% of the funds will be reserved for operational costs; This includes administration costs, hosting costs, office costs, and other operational costs;
- 13% of the budget will be directed to external contractors. Such as external engineering, PR agencies, growth-hacking and more;
- 12% of the budget will go to the marketing department; and
- 3% of the budgets will be set aside to tackle unforeseen costs.
When Will The ICO Sale Start?
The sale for Guaranteed Entrance Tokens (GET) has already started in November 15, 2017. However, the exact timings of when this sale will end is not yet revealed.
The company GUTS has earned a number of awards. They are well known in the ticketing industry. With the development of the GET Tokens, they are addressing and solving problems that have plagued both the artists and their fans for centuries. GET Tokens will revolutionize the ticketing industry.
There is likely to be no more criminal or fraudulent activities related to ticketing if the sale of the GET Tokens become a success.