[REDACTED] 2024 | The Evolution of NFTs: From Investment to Practical Applications and Beyond
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About this video
Non-fungible tokens (NFTs) have rapidly evolved from a niche concept in the cryptocurrency world to a transformative technology with far-reaching implications. This presentation explores the journey of NFTs, from their initial role as investment vehicles to their emerging practical applications.
Duhee Lee - Modern Lion
Takeaways: NFTs as a Solution to Ticket Scalping: NFTs are being explored as a method to combat ticket scalping by tracking and verifying each ticket’s authenticity on the blockchain, ensuring fair pricing and preventing ticket duplication.
Enhanced Transparency and Security: Using blockchain for ticketing allows transparent tracking of ticket ownership and resale history, which increases trust among event organizers and ticket buyers by reducing fraud.
Revenue Control for Artists and Organizers: NFT-based ticketing enables artists and event organizers to control ticket resale prices, ensuring they capture a share of secondary sales rather than letting scalpers profit excessively.
Customized Fan Engagement: NFTs offer additional benefits like exclusive rewards, special content, and merchandise for fans, providing a richer, customized experience while retaining valuable user data for targeted engagement.
Scaling NFT Ticketing with NEAR Protocol: The integration of NFT ticketing solutions with NEAR Protocol in Korea demonstrates a scalable approach to digital ticketing that has the potential to transform large events by securing tickets, providing real-time verification, and enhancing user experience.
NEAR is the Blockchain for AI Website: near.org NEAR AI: near.ai Intents: near.org/intents Chain Abstraction: proximity.dev Sharding: nearone.org
For the devs GitHub: github.com/near Dev Docs: docs.near.org Devhub: devhub.near.page @NEARDevHub
Connect with socials Twitter: / nearprotocol Blog: near.org/blog Medium: / nearprotocol #NEAR #nearprotocol #nearai
Transcript
910 wordsCaptions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.
- 0:00
Hello good afternoon everyone My name is from South Korea I'm the CEO of mod liion today talking about the evolution of nft from How They are moving from the investment to the practical application and Beyond particularly titing industry before diving blockchain industry I was deep involved teach compter science nonc science majors and with my students I organized aone This is a heon i organized and through this
- 0:41
education system I just I don't just pass on the knowledge to the student But I check the interest moving from of the students in 20022 I found out that the interest of the students exping block and the moving interest on the fire so it inspires me that inspires me to make a step bey The education so I decide to jump Into The blockchain industry with theedit C compy in korea I'm very excited to share my journey and share my experience nft work
- 1:38
traditional tick system the most traditional ticket system is SC SC is very ser in many countries including matore buy the tickets and they manipulate price the price increased to times original value so it became very serious and as you can see there is a concert in tha and act are by so someone should be fixed this problem because the catching the identifying the scalpers and
- 2:39
catching the scalpers and arrest the scalpers CA a lot of social cost so someone should piix someone SH fix this problem and so we are trying to fix this problem using nft sc neely let me EX fam AR there there playt인 ticks distributed form pap so It was very easy to copy so scp copy the tickets and they sell the ticket to the people so of the people B it and they
- 3:46
became a VI so Play l a and F missed out on the concert and Only scp get benefit situation and second one is the break the revenue system when tickets are distributed in the web System information of buyer are not disclosed that means sted in the private company It's not public so the buyers can get tither the ticket secretly so nobody knows that so they always fail to prevent scp so scp can buy the ticket the ticket with software like
- 4:48
and MA they number tick the markc they can manipulate theas tick syos chos so it be fix fixed So we are trying to fix problem using n bas ticket could solve this problem so let me give you n ticket who how ticks and and try to resell them and we can the PR at Which they sold and we can know the potential scp in the watching the blockchain System so let me give an example of the famous artist 범 at the begin of at the begining of this year 장범준 sold
- 5:53
ticks and ticks out 10 dec that every and I will hold anying IS IS resap cover this issue because inore exp
- 7:08
so our team cover is [음악] tick indust cover This is exp exp page the 장범 there so manys someone is big and someone was small this is small 범 watch toly TI 532 and holder is 295 and most important thing is that in the red box the highest ticket number of ticket IS
- 8:14
4 because we set the limitation AS 4 so someone the person can buy only ticket can number someone has Are You really preventing thep very easy very easy to because sending screenshot complete many traditional ticket industry says that we are very good at preventing scaring and we are We have many tools We are using technology with technology we are pring nobody trust that Don't trust
- 9:03
that but We are person So we trust data so while watching the Explorer as i mentioned We Trust and I can add one more things the data st in the count comps is very important because when we are I think a power blockchain using nft tick There are more benefits like seev you want benefit into n ticket number one is AR AR identify someone who attend
- 10:07
benit toly without dat I say nft possible NC tsh t with then nft quick 모텔
- 11:10
[음악] hej [음악] 장범준 케이스 나빈치 모텔 케이스 is very important because this case is fighting against the
- 12:12
scp in the technical way so I think very important and from slide Let me introduce my company structures mod L was founded C is in 현대모 groups and It has about 12 million c holders and trading Volume is about 12 billion dos per years and the maret share is about 20% in Korea and the 현대 C has group domal to share the data exclusively with to the markets starb Korean exom is about 245 million and on
- 13:12
to is famous for Super concert Which largest concert in korea from 2007 and last year comea Queen come Korea iner Let me take look theer [음악] [음악] [음악]
- 14:15
[음악] [음악] so and are to use nft TI syst in in the future I think could be very aming event and next year launch account for 12 million holders on protocol blockchain so I think it might be a game changer because invit so custom to the web AD by This Way so excited make pram with my team ande stay tun to my product next
- 15:22
year me my and thank you a time