New OPEN Ticketing Module Revives the Bowie Bond

The revamped version of Get Protocol, OPEN Ticketing, is on a mission to innovate the event and ticketing industry with its new OPN RWA module, inspired by the innovative financial strategy behind the Bowie Bond.

In 1977, the bond transformed David Bowie’s future music royalties into $55 million through an asset-backed security, allowing the icon to reclaim song rights and share profits with investors, showcasing the potential of creative financial tools.

Despite royalties backing the Bowie bond, OPEN states there’s also potential for bonds backed by future ticket sales or other on-chain assets, opening up new investment opportunities for artists and their supporters in creative projects.

Unlike traditional methods, the web3 ticketing platform incorporates blockchain technology and fractionalized NFTs to reshape event financing. It enables artists and event organizers to secure funding on equitable terms, with the potential to alter the industry landscape significantly. 

Learn more: OPEN Ticketing Ecosystem Launch To Transform Global Ticketing (nftplazas.com)

OPEN Ticketing Challenges the Status Quo

Historically dominated by major players like LiveNation, the entertainment industry’s financing mechanisms have often faced criticism due to high fees and the exploitation of fans and artists. Few alternatives challenge LiveNation’s stronghold.

The launch of the OPN RWA module represents a significant shift. It leverages blockchain technology to decentralize and democratize financing within the sector. Tokenized and fractionalized NFT tickets enhance transparency and accessibility, moving away from opaque, centralized financial practices.

Facilitated by this blockchain module, real-time settlements broaden investor participation in large-scale events, fostering fair financing. Stringent loan terms, enforced by blockchain, address common issues like late payments and defaults in traditional event financing.

With these innovations, OPEN Ticketing’s OPN RWA could challenge LiveNation’s dominance, signaling a fairer, more accessible era in entertainment financing.

The ultimate aim is to give artists and fans better terms and more control over their engagements.