Get Protocol Whitepaper

Written by the GET foundation team, August 5th 2017, Amsterdam

Abstract.

Ticket fraud and exorbitant secondary ticket prices are age old phenomena that have had artists and their fans worried since the times of Dickens and Shakespeare. Thirty percent of all tickets are resold with mark-ups between 30% and 700%. The event ticket market is know to be non-transparent, inexplicable transaction costs added to tickets are a common practice among ticketing services. The solution is a blockchain based event ticketing protocol used by ticking and booking companies that will make exorbitant secondary market ticket prices and ticket fraud occurrences of the past. The protocol will offer these features while providing absolute transparency for all actors involved. These features are accomplished by introducing a smart-ticketing protocol built upon the Ethereum blockchain that will facilitate as a back-end backbone to the sale and trade of event tickets by issuing smart tickets to wallet addresses. The owner of such a smart ticket is free to anonymously sell a ticket but can only do so within the decentralized and issuance price restricting

Infrastructure/rule-structure of the GET Protocol. This ensures that ticket trades are done safely and within a set price margin. Over the counter trade or additional off-chain fee surcharges are not possible as trade is anonymous and the tickets QR code non-static. The smart tickets QR code is dynamic and will change as a factor over time and owner of the ticket. This makes trading/selling the QR code outside of the protocol impossible by default. The token, the GET, will act as the main stable value holding asset in the protocol in each event cycle. This characteristic is necessary for this honest ticketing platform, as the token FIAT value locking attribute adds both security and price stability to the protocol during each event-cycle. The GET Protocol will be further developed, owned and operation by the GET Foundation. GUTS Tickets is a blockchain based ticketing company from Amsterdam with an operational ticketing application/business that has initiated the GET Protocol and will also serve as launching customer of the protocol. Over the past year, GUTS Tickets has facilitated numerous events with its application and has much more lined up for the future(330k tickets already secured for 2019 alone). The token’s issuance, its utility function within the GET-protocol and the role for the token holder are all explained in detail in the body of this whitepaper. Short in time? Read our two-pager for a brief overview of our proposition.

Supply Type

GET

Total circulating supply on the 20th of December 2017.

9.901.391GET

Total circulating supply after transfer of referral and bounty tokens.

10.384.386GET

Total GET minted by crowdsale contract/maximum supply of GET.

33.368.773GET

Maximum theoretical GET in circulating supply.

13.523.852GET

Table1: Summary of the circulating and maximum supply of GET.Check the minting, burning and vesting specifications and subsequent proofs by viewing this Google spreadsheet. Monitor the movementof the GET on etherscan.

The ticketing company GUTS is currently selling blockchain-registered tickets via its smart-ticketing application. In 2017 alone the company sold tickets for more than 46 events totalling more than 10.000 tickets. Where traditional ticketing companies provide a buyer with a static QR code, the GUTS application serves the user with a dynamic QR code that changes as a function over time and owner. One of the Netherlands most prominent theater companies, Hekwerk Theaterproducties, have partnered with GUTS and its team. This deal alone secures protocol usage for more than 310.000 tickets in 2019. Several prominent artists and their management, for example Guus Meeuwis and Martin Garrix. Booker Chris Payne of ITB(repr. Adele, Maroon 5 etc.) have also shown their support for our vision of a efficient and transparently merged primary and secondary ticketing market. With as main philosophy cutting out the profits made by parties adding little to no value in the event value chain. The protocol allows ticket owners to resell their ticket anonymously to other consumers directly in the web-application without the risk of being defrauded or getting scalping with fees/excessive margins.

GUTS Tickets

The GET Foundation

Provides smart ticketing services

Provides an open blockchain protocol

Customers: Event organizers, Festivals and Venue owners

Customers: Ticketing companies, promoters and booking companies

Builds consumer facing smart ticketing web-aplications

Provides a value conserving protocol for ticketing companies

Launching customer: Hekwerk

Launching customer: GUTS Tickets

GUTS Tickets BV, Registered under reference number: 69771138

GET Foundation, Foundation registered under reference number: 65911296

Table 2: The difference between GUTS Tickets and the GET Foundation

The GET Protocol is operational. The GET Protocol is more than a white paper or a proof of concept. It is reality. GUTS Tickets is already selling smart tickets registered on the blockchain. After the crowdsale is completed other functionalities as reselling tickets within a price margin will be added to the protocols functionality. Check out the events we ticket for or try out the sandbox environment and experience the future of ticketing for yourself.

GET protocol

€euro

Status

Total

Softcap

€2.3million

Reached after completing public pre-sale

8.560.800GET

Hardcap goal

€15million

Crowdsale is completed (end date 13th of December 2017, 13:00 CET)

23.987.367GET

Crowdsale result

€6.25million

10.934,62ETH

9.901.391,97GET

Circulating supply

Crowdsale+ bounty referral partitions Crowdsale+ bounty referral partitions

10.384.386,70GET

Maximum supply

33.368.773,40GET

Table 3: Summary of the GET Protocol ICO. Details about the recalibration of the hard-cap on the half way point due to the increased ether price is described in our blog.

*Total burned: In total two token burns where conducted. One at the half-way point and the last one at finalization of the crowdsale. Both burns summed amount to a total of: 56.631.226,60 GET.

** AVG GET price during ICO: On average (including the private & public pre-sale) contributors received 0.00110435179 GET/ETH. In total 1179 unique contributors participated in the crowdsale.