solutions/RMRK_Proposal/Proposal.md

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RMRK Proposal

  • Authors: {Péter Bertalan, Nagymarosi Máté, Toldi Balázs, Debreczeni Máté}
  • Status: {Draft}
  • Created: {2022-12-07}

Summary

The RMRK documentation currently includes a use case description of a ticketing system, built on revealable and multi-resource NFTs. We extend this application with a few additional ideas that take advantage of RMRKs toolbox.

Motivation

Classic solutions to ticketing come with their drawbacks. RMRK offers new and versatile building blocks for making NFTs more powerful and rich, while also eliminating a lot of the downsides. However, one aspect not addressed by the current draft is scalping. Scalping is the practice of buying large amounts of a scarce asset to resell it at a higher price. Even centralized systems struggle to combat this issue. Our proposal offers a possible mitigation.

Specification

Multi-use tickets

Instead of following the traditional scheme of one ticket per event, a ticket could possibly be valid for a number of select or arbitrary events. In this case, ticket validation would entail verifying a counter or the presence of a specific PoA besides the secret keyword.

A loyalty system

Dedicated fans deserve extra perks for their support. Our proposal utilizes multi-resource NFTs to enable customers to attain a collection of PoAs as part of a single NFT. This could be used to set up the basis of a loyalty system. Owners of such collections would be able to participate in presales, ensuring that they dont miss out on their favourite event.

Scalping mitigation

The loyalty system outlined already offers some level of protection against scalpers, but we would further enhance this with the use of Verifiable Credentials. These could be issued by a trusted organization and the amount of tickets per capita could be limited.