The Ethereum Foundation has been collaborating with the innovative team at ether.cards to introduce an NFT-based ticketing solution on the chain for Devcon5.
This experiment will be comprised of two parts: a drawing and an auction. All proceeds will be donated to the Devcon Fellows Program. These events will take place over the coming days. We have already allocated 100 raffle tickets and 50 auction tickets, and we plan to increase the number of chain tickets available next year.
The 22nd of August will be the date of the draw at 5:00 GMT. You can access the links to the auction and the raffle at https://ethercards.devcon.org once the sale has started.
Demonstrably Fair Sale
Draw: August 22-24
The provably fair sales will run like a raffle. Anyone can submit a transaction anytime during the two-day sale. The system will notify those who have not claimed their tickets within 48 hours.
In order to discourage people who submit too many trades in order to increase their chances of winning, 2% of every non-winning trade will be withheld. This is to encourage people with more funds to use the auction system instead. We will discuss the process for deciding how to best use the revenue to benefit the Ethereum ecosystem in a future post.
Non-winning transactions will have less than 2% (known as the “Sybil’s Endurance Fee”) withheld, and all monies will be refunded upon completion of the sale.
Bidding: August 27-29 (Reveal: August 30-September 2)
The auction is modeled on the ENS domain registration silent sale. Bids must be submitted blindly for 48 hours, and then revealed after the bidding period ends. This system was chosen to prevent bidding wars. All undisclosed offers will be cancelled at the close of disclosure.
This year has seen the development of a multitude of systems. Increasing resilience in ticketing and displaying the potential of Ethereum projects by open source community members. This experiment is also intended to measure user engagement when they have to interact with on-chain mechanisms directly, as opposed to one that allows them the option of fiat payment or payments via exchange addresses. We will be testing these two on-chain mechanisms as part of diversification.
Following the sales, an additional ticket opportunity will be available in the form of a round-of-appeals, in which unredeemed tickets will be offered. Applications from Builders, Students and Patrons will enable tickets to be redistributed. It is impossible to predict how much appeals will cost, and they won’t even be distributed until one month before the conference. Get your hands on a raffle or auction ticket if you can.