[exdsq]

The thing I love is the idea of atomic transactions. What does that mean? Well the transfer of a ticket for money could be a single transaction. No ticket without money, no money without ticket. Sure, you could use some tech to do this - maybe rely on Paypals guarantees to get your money or ticket back if the other person is fraudulent. But how do you guarantee the ticket is authentic? Well I can include a verification step in the transaction to only send my money if the ticket is valid with a smart contract. Now you have a peer-to-peer trustless safe method of trading tickets with strangers. The ticket providers can mint x tokens for a release and enable a safe resale market while users can feel safe buying and selling tickets online.

[dmitriid]

> Now you have a peer-to-peer trustless safe method of trading tickets with strangers.

No. You don't. because you also have to verify that the person who is selling tickets actually has the right to do so.

[exdsq]

Simple - either metadata or part of the validator

[dmitriid]

That is not an answer. What metadata? What validator? Who provides and verifies that metadata? Who provides the validator?

[exdsq]

Okay going into it more:

An NFT can store on-chain metadata. A simple boolean flag would let you mark it as resellable or not. In minting the tickets you can create a validator that checks authenticity but you can check these things yourself: that it originates from the organization for example. The metadata is immutable so if it's come from the organization it's authentic. Because NFTs are tokens are money you can transfer USDC for BackstreetBoysGig#Ticket1021 where O2ArenaTicketVerifier authenticates the ticket as part of the transaction only confirming it if the ticket is resellable and authentic.

How does a company know their tickets have been resold, if they don't want that to happen? Well you look at the tx history of the NFT - if it's been traded > 1 time it's been resold.

Compare these potential benefits with the existing ticket industry (including resale sites) and you see several benefits. You can remove intermediary companies meaning people pay less in fees and you can avoid ticket fraud. Is this an issue? Yes: https://www.theguardian.com/money/2020/feb/24/touts-who-made...

[dmitriid]

> In minting the tickets you can create a validator that checks authenticity but you can check these things yourself: that it originates from the organization for example

You, yourself, you: who is this "you". How do you verify that a particular resellable ticket actually comes from an org authorized to sell tickets? Who's to stop me from selling counterfeit tickets?

> where O2ArenaTicketVerifier authenticates the ticket as part of the transaction

So. In the end the org itself verifies it. You know that they can easily do it now, without the overhead of blockchain?

> How does a company know their tickets have been resold, if they don't want that to happen? Well you look at the tx history of the NFT - if it's been traded > 1 time it's been resold.

Because people will always put all their transactions for resold tickets on the blockchain, right

> Compare these potential benefits

You haven't listed "potential benefits" except maybe tracking reselling of tickets.

[exdsq]

Sorry, I don't think you understand this technology at all. I appreciate one might want to remain sceptical of something that has so much FOMO and tulip behaviour but I feel you're being facetious. There's a well-known issue of third-party ticket sales and this method allows you to have digital proof that a ticket is authentic while allowing you to buy and sell with the guarantee if you send a valid money/ticket you will receive money/ticket.

> You, yourself, you: who is this "you". How do you verify that a particular resellable ticket actually comes from an org authorized to sell tickets? Who's to stop me from selling counterfeit tickets?

The organisation selling the tickets can create the verifier.

> So. In the end the org itself verifies it. You know that they can easily do it now, without the overhead of blockchain?

Yep absolutely! But it's very hard for someone who's buying the ticket from a third-party to verify the ticket.

> Because people will always put all their transactions for resold tickets on the blockchain, right

The NFT is the ticket. To transfer it is a transaction. If you were to resell the ticket offline and give someone your private key to access the ticket then fair enough but all you need to do here is have a hash of the buyers name as metadata and that resolves that.

Edit: If this isn't a problem, how would you buy a ticket from me to a gig with the information purely available to you about me right now? What would be the process? With a blockchain I could share a link to a transaction where you'd see a ticket is available for $10 USDC, you could put that ticket into the gigs site to verify it or look at the ticket origin and see it's from the organisers account, and send me the 10USDC immediately receiving a valid ticket into your wallet. If you're worried it's not allowed to be resold you can check the policy metadata embedded into the ticket saying "Resales are allowed".

[maccolgan]

Are you completely unaware of how the blockchain is validated and the cryptography underlying it?

[dmitriid]

I am aware of reality that doesn't care for wishful thinking.

See my response here: https://news.ycombinator.com/item?id=29277622