FlexTicket
Dynamic ticket pricing for efficiency, fairness, and transparency
About
The problem it solves 1. Increased fairness and accessibility - Traditional event tickets are sold at fixed prices. Setting the price based on free market demand-supply mechanisms will help set the price at a fair level for both sellers and buyers and events will become accessible to a wider range of attendees. 2. Increased revenues / decreased unsold tickets - Dynamic pricing optimizes revenue potential and reduces the risk of unsold tickets for event organizers. This not only increases revenues but also reduces waste. For eg. if Eth Prague had only half the attendees expected then there would be tremendous waste in power usage, food, manpower etc. 3. Reduction in fraud - In web2, fake tickets are sold in secondary markets regularly and attendees are unable to authenticate them easily. Ticket NFTs will help with authentication as ticket sellers' addresses will be visible on the chain. This should help decrease fraud. 4. Enable price transparency - Web2 dynamic pricing mechanisms are not transparent usually for competitive reasons. However, transparency in dynamic pricing can be fair and useful in many situations. Events are one such use case because people attend them for non-fungible experiences so competitive pressure is lower. If Taylor Swift uses transparent pricing mechanisms with her tickets her fans would not stop going to her concerts or switch to another artist instead.
How it's made
Challenges we ran into Problem: Internet connectivity was very poor on Saturday -> Solution: used personal mobile data Problem: Block explorer was failing while trying to verify smart contracts -> Solution: retried early next morning Problem: Smart Contract could not be deployed due to its size (EIP-170) -> Solution: Optimized compilation and refactoring Problem: Hard to get testnet tokens. Goerli faucets were not working properly -> Solution: Pinged every group on Telegram to get some