Ethereum -founder Vitalik Buterin Has the debate in the debate about the prices of tickets and how non-fungal tokens (NFTs) could bridge the gap. Buterin’s rack Comes as a response to comments from the CEO of Live Nation-ticketmaster that concert tickets are ‘too expensive’.
Vitalik Buterin suggests that NFT’s ticketing can replace
According to Buterin, tickets for these concerts or an event are usually stressful to obtain, because people continue to wait until 3:00 am to make a lock. He noted that this is happening as a result of the gap between supply and demand.
To tackle this, the founder of Ethereum proposes to restore the demand and supply gap, so that somehow can be a balance. He emphasized that if there are more buyers than available tickets, there must be a system to decide who gets them.
Buterin pointed to two possible roads, whereby the sale to those who are willing to pay the highest price or who are ready to spend long in queues. According to him, “paying with time is less honest and more destructive.”
He believes that the man -hours who have been spent in line do not provide value. On the contrary, with higher prices, the money from transfers can finance more production or other worthy initiatives. So if NFTs are used for the sale of these concert tickets, the system can easily extract this money transferred and channel it in the right way.
Buterin also considered people who are not financially floating. He proposes to allocate tickets to these groups and to bind them to a goal. This can be the proof of volunteering, good figures or another worthy thing.
“In short, acknowledge that there will be an auction, but create more ways for people to offer that goal that vary on various constituencies,” said Buterin.
NFT back in the spotlight?
Non-fungable tokens are the first innovations that Ethereum used to present his smart contract capacities. However, the rise of meme coins such as Shiba Inu eventually helped these spotlights to fade.
With Vitalik Buterin who always shares his Visions for the Ethereum Blockchain, his last comments on NFTs can imply that there is a big plan to breathe new life into these tokens.
The dominance war under blockchain protocols is growing and Ethereum can simply return to its core strengths with NFTs.