Breakpoint 2023: OPOS – Blockchain Ticketing Comes to Life with Solana and Tweed

Summary

Breakpoint 2023 played host to a significant discussion on the future of event ticketing powered by blockchain technology. Michelle Latzer, co-founder and CEO of Tweed, in conversation with Josh Fried of Solana Foundation, revealed how Tweed is partnering with the Solana Foundation to leverage blockchain for event management. The move represents a shift in how large, web-oriented companies perceive blockchain's value in creating real communities and sustaining ongoing relationships with participants through compliant, frictionless, and self-custodial technology. The specific case of Intel's Ignite program illustrates how the implementation of blockchain tech can transform how enterprises interact with and provide continuous value to their audience.

Key Points:

Tweed's Blockchain Ticketing Solution

Tweed has emerged as a facilitator for bringing Web2 users into blockchain-based experiences, providing wallet to the service and payment infrastructure that does not require companies to own custody licenses. This innovation allows easy global operation and lets users own various assets. Latzer emphasized the specialization in self-custodial technology, ensuring a compliant environment for integrating companies, crucial in the current landscape where corporate compliance and risk aversion are paramount.

Intel's Foray into Blockchain with Intel Ignite

Intel's Ignite arm organizes hundreds of events, attracting tens of thousands of participants each year. However, these events have been managed through third-party providers, leading to fragmented experiences. Michelle Latzer discussed how Tweed is assisting Intel in reimagining their event management by using a blockchain backbone to capture data, sustain relationships with developers, and potentially explore new forms of monetization. Each event invite will be a Solana-based NFT, creating a continuous engagement loop with attendees.

Solana's Role and Advantages in Ticketing

The collaboration with Solana offers tangible benefits, such as scalability, low cost due to compressed NFTs, and a well-developed ecosystem with necessary infrastructure already in place. The Solana brand's strength is also a critical factor in attracting enterprises dipping their toes into the blockchain space. The underlying technology facilitates quick project rollouts and supports expansive growth in corporate event management.

Facts + Figures

• Tweed is a company that offers wallet service and payment infrastructure to ease the transition of Web2 users to blockchain experiences.
• Intel has a B2B arm named Intel Ignite, responsible for community relations with developers and startups, hosting many global events.
• Tickets for Intel events will be Solana-based NFTs enabling seamless user experience and more extended community engagement.
• The scaling and cost-effectiveness of Solana's blockchain are crucial for the adoption by Intel.
• This partnership is poised to grow beyond ticketing to encompass loyalty and gaming sectors.

Top quotes

• "We're really focused on bringing in Web2 users into blockchain-based experiences and doing it in a very compliant, fully compliant way."
• "Our technology is fully self-custodial, which means any company integrating our solutions really don't have to worry about owning any custody licenses."
• "It’s only possible when you have an ecosystem that's that developed with already such infrastructure built by all them and amazing products here."
• "The way it'll work is every event invite will be an NFT, right, a compressed NFT I'm hoping on Solana, and then they'll be able to see all the events that they've attended."

Questions Answered

What is Tweed’s unique value proposition in the blockchain space?

Tweed stands out in the blockchain space by offering self-custodial wallet service and payment infrastructure, focusing on compliance and reducing entry barriers for Web2 users. Their value proposition lies in enabling companies to operate globally without the need to own custody licenses and allowing users to hold different types of assets anywhere securely.

How is Intel leveraging blockchain through the Intel Ignite program?

Intel is leveraging blockchain to enhance event management for the Intel Ignite program. By transforming event invitations into Solana-based NFTs, they aim to improve community engagement, data analysis, and provide a continuous and enriched relationship with event participants.

Why is the collaboration with Solana essential for Intel's blockchain initiative?

The collaboration with Solana is crucial for Intel's blockchain initiative due to the scalability, cost-efficiency, and advanced ecosystem that Solana offers. The successful brand and robust infrastructure facilitate quick and scalable implementations, which is vital for a company with a global footprint like Intel.

What are the potential future applications of this blockchain ticketing initiative?

Beyond ticketing, there are potential applications in loyalty programs, gaming, and other sectors that benefit from a secure, transparent, and continuous interaction with a user base. As the technology and market comfort with blockchain grow, payment systems like Solana Pay could also streamline cryptocurrency payments for event ticketing and other services.

What makes blockchain an attractive solution for ticketing and events management?

Blockchain is an attractive solution for ticketing and events management due to its ability to provide secure, verifiable, and unique digital assets (NFTs) that represent tickets. This technology fosters long-term relationships with attendees, enhanced interactions and data capture, and the potential for new monetization avenues through continuous community engagement.