A Proposal for NFTs with Actual Property Rights - _o_________ ___ _______

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2022-01-12 14:00:08

I'd like to propose a project that makes use of the technology behind NFTs while solving real problems: digital concert tickets

As of early 2022, none of the popular NFT projects provide any actual property rights. The only right associated with each token is the right to transfer the token to someone else. This includes projects like the Bored Apes Yacht Club, where the cost of membership in the yacht club is comparable to lifetime membership at an actual yacht club; you get the exclusivity without access to an actual yacht club.

There are applications where being able to verify and trade property rights in unique assets could potentially be done at lower cost through the technology introduced with blockchains. I've previously argued that efficient replacements for rights licensing organizations like ASCAP and BMI, real estate title search/insurance companies, and ownership or shareholder tracking like MERS or ProxyVote are areas that could be fruitful for exploration.

Concert tickets have characteristics and associated problems that make them well-suited for being represented as NFTs. They are Non-fungible: each ticket grants the right to use a specific seat in a specific venue for a specific duration High Value: each one trades at tens or hundreds (sometimes thousands) of dollars Existing solutions prone to counterfeiting Secondary markets are inefficient

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