Josh Gargus

🚨 NIGHT CRASHES 43% TO ALL-TIME LOW AFTER 290M TOKEN DUMP; CHARLES HOSKINSON CONFIRMS CORE PROTOCOL SAFE, BLAMES ISOLATED WANCHAIN BRIDGE CONTRACT ISSUE

15 of the current live proposals are expiring within the next 10 days. The voting participation across the DReps remains very low; Only about 17% of the DReps are actively voting on the proposals.

"First and foremost—the value in our proposal accrues to both parties: the ticketing company and the blockchain itself. Every transaction processed will be a Cardano mainnet transaction." → The core question here is not whether you designed it that way, but whether there is a fundamental necessity for such a design. This leads to the next question: "What does the Cardano layer concretely improve for Sellout that Web2 cannot?" First, I believe that utilizing a native asset—rather than a smart contract reference—offers a massive structural advantage. Since these tickets are essentially Real-World Assets (RWAs) to some degree, the native asset structure is the most logical approach for handling NFTs. This also opens the door for tickets to evolve into collectibles and engagement tools for artists, venues, and event organizers. → The core question here is why this cannot be achieved in Web2, and why Web3 offers greater utility. Secondly, there is the issue of preventing scalping and counterfeiting. Because they are NFTs, they contain immutable metadata that can be used to track a ticket's history and create an asset that cannot be duplicated. → The core question here is why this cannot be achieved in Web2, and why Web3 offers greater utility. Third—a point not included in our initial proposal—is the concept of the company becoming a Stake Pool Operator (SPO). Through the value stored within each NFT, we would accumulate small amounts of ADA; when aggregated across hundreds of thousands of tickets, this could be used to subsidize a stake pool. Ultimately, this would allow the platform to subsidize costs for event organizers and consumers. This is a mechanism unique to Cardano—one that the CEO of Sellout was completely convinced by. → Thank you; I understand. Finally, there is the matter of resale control. While this does not necessarily happen at the ledger level, having control over royalties is paramount for event organizers. In our professional opinion, this is only achievable through fully digitized ticketing—and NFTs are the best way to implement it. → Why are NFTs the best solution? (In comparison to how Web2 works, not in comparison to other Web3 technologies.)