Tickets as Membership

Tickets as Membership Accounts: ERC-3525 Revolutionizes Brand Communities.

Digital tickets are one of the most likely scenarios to bring 100 million users into Web3, and this concept is not new. In 2020, NFT tickets for the European World Cup attracted a lot of attention. In general, compared to traditional paper tickets, digital tickets have many obvious advantages:

Cost savings: They save on printing and transportation costs, and they don’t require a specific ticket management system.

Flexible authentication: Through blockchain networks, ticket authenticity can be easily verified, and it doesn’t need to be linked to the purchase behavior.

Collectible value: Digital tickets stored in wallets reduce the chances of damage and loss, increasing convenience for collectors.

However, why haven’t digital tickets been widely adopted, even within the crypto community, where most offline events still use paper tickets? The fundamental reason is that current digital tickets have a single function, and the advantages and value they bring are not enough to overcome the inertia of users using paper tickets. For example, most issued digital tickets are minted using the ERC-721 standard. If we use the three major advantages of digital tickets mentioned above as the standard, it can be said that it is a qualified digital ticket. Therefore, it must be acknowledged that relying solely on these features is not enough for digital tickets to replace traditional paper tickets or even centralized ticketing systems in the Web2 model.

If digital tickets carry not only the information of the ticket itself but also associated identity information and ownership information, and if a single-event ticket is no longer a one-time entry ticket but a renewable membership account, its value will experience a substantial leap. In the Web2 era, many large businesses would build membership accounts for their customers, recording user information, purchase records, and distributing membership benefits, and tickets were just one branch of this system. Building such a system requires a significant amount of time and manpower, which most small and medium-sized businesses, communities, or individual artists cannot afford. If building a membership account is as simple as issuing a ticket, the barrier to entry will be greatly reduced, and many small businesses and individuals can benefit from it.

Among the current mainstream blockchain technologies, the ERC-3525 standard has the potential to make breakthroughs in these regards:

1. Ability to track points

Accounts need the ability to measure and record user behavior. The most significant feature of ERC-3525 is that it combines quantitative properties and visualization capabilities, and ERC-3525 can record member contributions in the form of points and differentiate user levels using algorithms.

2. Receiving, storing, and sending assets

The basic function of a membership account includes depositing and receiving assets such as coupons. ERC-3525 is essentially a tokenized robot that can receive, store, and send assets. Brand companies can send future assets like coupons and discounts directly to SFT, making membership management convenient and precise.

3. Upgradability

User tiering is an important way to incentivize the community. ERC-3525 can execute data judgments based on data services from Oracle or third-party platforms and differentiate them using visual representations, such as achieving 100 points to upgrade from a silver card to a platinum card. In other words, brand companies only need to issue one round of membership tickets to build a multi-tiered membership system, where users with different contribution levels will obtain different membership statuses, and these statuses will be visually represented differently.

By tokenizing membership accounts as SFT, Web3 will have a higher user experience than Web2:

1. Users have access to data and benefit from the data. Users only need to purchase SFT to obtain membership status. This information is not locked in a centralized system but is publicly available on the blockchain. Other communities can also identify target users at a low cost by reading on-chain information, enabling different communities to collaborate and create a more frictionless ecosystem, benefiting both users and brand companies.

2. Direct and efficient community interaction. Businesses can directly send benefits, discount coupons, etc., to ticket SFT, and members can access and manage their account SFT through their wallets, providing direct interaction opportunities for brand companies and communities.

3. Everyone can build their own community. By issuing tokens, it becomes easy to create an exclusive community, providing ordinary people and grassroots artists with opportunities to showcase their influence, creating a more diverse ecosystem.

In Web3, tokens serve as the carriers of asset value and act as the medium for value exchange across different systems. The capabilities of tokens directly impact the efficiency of cross-border asset circulation. In the context of ticket scenarios, digital tickets using the ERC-3525 standard offer not only basic identity verification but also various capabilities such as point tracking, reward distribution, and membership upgrades. ERC-3525, as a versatile and semi-homogeneous standard, provides a flexible foundation that can accommodate different upper-layer extensions, offering more significant room for future strategic innovations or product upgrades and enriching the Web3 experience.