GUTS Tickets
| bv | |
| ISIN | 🆔 |
| Industry | Ticketing, Right of Entrance |
| Founded 📆 | April 21, 2016 Amsterdam, NL |
| Founders 👔 | Maarten Bloemers, Ivo van der Wijk, Tom Roetgering, Frans Twisk |
| Headquarters 🏙️ | , Amsterdam , NL |
Area served 🗺️ | Worldwide |
Key people | Maarten Bloemers (CEO) Ivo van der Wijk (CTO) Tom Roetgering (CCO) Frans Twisk (PO) |
| Products 📟 | Ticketing technology Ticket sales Ticket resales Marketing Distribution of event tickets and information |
| Revenue🤑 | Unknown |
| Members | |
Number of employees | 25 |
| 🌐 Website | guts.tickets |
| 📇 Address | |
| 📞 telephone | |
GUTS Tickets BV is a Dutch ticket sales company based in Amsterdam. The company uses blockchain technology to issue digital tickets that prevent scalping. Their mission is to end the unfair practices happening around the world of ticketing..[1][2].
GUTS Tickets' clients include venues, artists, and promoters. Clients sell their tickets using GUTS Tickets but retain complete control over their events and insight into sold tickets.
History[edit]
GUTS Tickets was founded April 2016 by Maarten Bloemers, Ivo van der Wijk, Tom Roetgering and Frans Twisk[3], when they registrered at the Netherlands Chamber of Commerce[4]. The company, initially, was founded as a showcase for the features provided by the GET Protocol. Jochem Myjer, Youp van 't Hek, and Guus Meeuwis were the first artists to host an event using GUTS Tickets[5][6], following a pilot for Jochem Myjer's shows in 2017[7].
In 2017, they received the Dutch FinTech award in the category 'Blockchain - DLT'[8]. In 2018, they won the New Dutch Wave Startup Competition[9]. In 2021, they were one of the top blockchain companies in the Netherlands[10].
GET Foundation[edit]
In 2017, the team behind GUTS Tickets decided that the blockchain technology fuelling GUTS Tickets should continue as a separate entity. The resulting entity, GET Protocol, is maintained by the GET Foundation[11]. In essence, it is considered as a functional split only. GUTS Tickets focuses on ticket sales, while the GET Foundation focuses on developing the GET Protocol. All ticketing infrastructure falls under GET Protocol, including the white-label and Digital Twin products.
Growth[edit]
GUTS Tickets started with a few pilots for Jochem Myjer, during which time the team behind GUTS Tickets had to solve issues during the live ticketing sales[12]. After these initial successful pilots, the team needed funding to continue the company. They raised these funds with a venture round and initial coin offering
After the Jochem Myjer pilots in 2017, GUTS Tickets started ticketing larger events. In 2018, a total of around 50.000 tickets to multiple Jochem Myjer shows were sold within 2 hours[13]. Later, on another tour in 2019, the same amount of tickets were sold within an hour[14].
According to the GET Protocol website, over 423 artists & organizers have used GUTS Tickets between 2016 and September 2021[15]. GUTS Tickets has ticketed events outside of the Netherlands[16]. However, it is unknown when the first event outside the Netherlands took place and in which countries GUTS Tickets has provided ticketing. This data has not been made public.
In March 2021, the team behind GUTS Tickets announced their plan in a blog[17] to quadruple the team in the upcoming years, from their current 25 employees[18].
Products and services[edit]
GUTS Tickets offers ticket sales for any 'right of entrance' event, ranging from pre-ordering lunch to beach chair reservations to museums, to small and big artists.
By merging the primary and secondary ticket markets in a closed ecosystem, GUTS Tickets offers fraud-proof ticket selling and reselling.[19]
GUTS Tickets lets customers choose a section and rank, instead of specific seats[20]. They decide on the seating plan shortly before the start of the event. They chose this approach as customers who bought extra tickets later can still sit together during an event. It also aims to eliminate unsold tickets due to only single seats being available.
Re-sale of tickets is controlled through rules set by GUTS Tickets, this gives them full control of the secondary market as if it were the primary market. The system redistributes tickets to a new customer for the same event when offered on the secondary market. Tickets up for resell are thus sold as primary tickets and prioritized over unsold tickets.
Tickets are issued via an App on smartphones and use a QR code which is locked until shortly before the event starts. Furthermore, the QR code is dynamic, changing and invalidating the previous one every 10 to 15 seconds[21].
The closed ecosystem of the ticketing market enables GUTS Tickets to have more insight into the customers for each event[22]. Furthermore, it makes it possible for artists hosting an event to contact fans before and after a show[23], whether they bought their ticket on the primary- or secondary ticket markets.
All tickets sold through GUTS Tickets are NFTs, which can be viewed using the NFT explorer and ultimately claimed by customers as collectibles[24].
These products and services GUTS Tickets offer stem from their use of GET Protocol.
GET Protocol[edit]
GET Protocol is the underlying system that GUTS Tickets uses to sell tickets. Their mission is to become the worldwide protocol standard for digital rights to enter an event[25][18]. GUTS Tickets was the first to implement the end-to-end integration and acts as the representative white label for other integrators.
GET Protocol uses blockchain technology to register and verify ownership of a ticket and provide transparency to the ticketing cycle[26][18]. By linking a ticket to a SIM card and phone, the genuine owner can be verified[27][28]. GET Protocol combines this with a dynamic QR code to prevent selling the ticket outside their ecosystem, thus avoiding ticket fraud. An example of provided transparency is the ability to verify that the queue for an event has been created randomly, and for customers to verify their spot in said queue. This is done using Chainlink's VRF (Verifiable Random Function)[29], which uses blockchain technology to shuffle the queue and return the shuffled list plus proof of its randomness.
GET Protocol uses the GET token for all ticket transactions (i.e., bought, sold, scanned) registered on the blockchain.
GET token[edit]
The GET token (Guaranteed Entrance Token) is the ERC20 utility token used as fuel for all blockchain-related transactions done by the GET Protocol[30]. It became globally available on December 13th, 2017[31]. The total supply of GET tokens is fixed, no new tokens will ever be minted[32]. For every usage of the GET Protocol (i.e., a ticket sold, resold, scanned), a certain amount of GET is send to a blockchain address, where a future DAO can decide how they'll be used[33]. Mechanisms are in place to ensure the amount of GET tokens will never run out[34]
To verify the safety of the token & protocol, a security audit was performed before release by Matthew di Ferrante[35]. He deemed the GET Protocol contracts correctly constructed and safe[36]
References[edit]
- ↑ "Tom heeft dé oplossing voor fraude met concertkaartjes" (in Nederlands).
- ↑ "Dutch blockchain project GUTS is ending ticketing scams". December 12, 2017.
- ↑ "Careers - Jobs". GUTS Tickets.
- ↑ "Netherlands Chamber of Commerce, #65911296" (in Nederlands).
- ↑ "Kaarten Jochem Myjer-shows niet meer geschikt voor doorverkoop" (in Nederlands).
- ↑ "Jochem Myjer en Youp van 't Hek pakken ticketfraude aan" (in Nederlands).
- ↑ "Theaterimpresariaat Hekwerk doet smart-ticket-pilot tegen fraude" (in Nederlands).
- ↑ "Deze winnaars sieren de Dutch FinTech Awards 2017 [verslag]" (in Nederlands).
- ↑ "GUTS Tickets winnaar New Dutch Wave Startup Competitie" (in Nederlands).
- ↑ "These are the Top Blockchain Companies in The Netherlands (2021)". January 17, 2021.
- ↑ "1.4.2 The GET Foundation" (PDF). Retrieved 2021-09-22.
- ↑ "Moment of Growth: Guts tickets by Mollie: Moment of Growth". Anchor.
- ↑ Hamacher, Decrypt / Adriana (February 1, 2019). "Comedy crypto: How Holland's most popular comedian is beating ticket scalpers". Decrypt.
- ↑ "GUTS smashes own blockchain sales record". TheTicketingBusiness News. March 7, 2019.
- ↑ "GET Protocol". Retrieved 2021-09-17.
- ↑ "GUTS Tickets". guts.events.
- ↑ "GET Update March '21". We are growing! (And then growing some more).
- ↑ 18.0 18.1 18.2 Tickets, GUTS. "GUTS Tickets". GUTS Tickets.
- ↑ "Nooit meer te veel betalen voor Beyoncé, dankzij start-up Guts" (in Nederlands).
- ↑ "Buying tickets for a seated event - GUTS Tickets". Retrieved 2021-09-29.
- ↑ "FAQ Attendees".
- ↑ "EB Live juli 2020" (in Nederlands).
- ↑ "GUTS Tickets featured in DWDD | De Wereld Draait Door | NPO 1 | 01-03-2018". Event occurs at 6:10 – via vimeo.com.
- ↑ "NFT Ticketing Goes Global With GET Protocol".
- ↑ "GUTS: `Blockchaintechniek vanaf 2020 beschikbaar voor ticketbedrijven`" (in Nederlands).
- ↑ "Cryptocurrency Prices, Charts & Crypto Market Cap - CoinCheckup". Cryptocurrency Prices, Charts & Crypto Market Cap - CoinCheckup.
- ↑ "📖 General FAQ - GET Protocol FAQ".
- ↑ Morris, Nicky (September 28, 2018). "Blockchain ticket protocol sells 50k tickets in 3.5 hours". Ledger Insights - enterprise blockchain.
- ↑ "GET Protocol integrates Chainlink VRF to further improve blockchain ticketing solution » CryptoNinjas". July 17, 2020.
- ↑ "Guaranteed Entrance Token" (in Nederlands).
- ↑ "ICO Finalized 13th December 2017".
- ↑ "Contract". Etherscan.
- ↑ "Overview". Developer Hub | GET Protocol.
- ↑ "👛 The GET Token FAQ - GET Protocol FAQ".
- ↑ "zklabs GET audit". October 22, 2017.
- ↑ de Ferrante, Matthew. "The contracts are correctly constructed have no major security issues that pose a threat to users or their balances" (PDF). Archived from the original (PDF) on 2021-08-15. Unknown parameter
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