Are you a cryptocurrency investor? Are you frustrated that everything seems to have gone up 10x, 100x or even 1000x?
You may think have missed the boat with some cryptocurrencies. But if you look hard you will still find the odd undiscovered gem.
Today I would like to share with you one of those unnoticed gems.
It’s an alt-coin that I believe has massive potential. After being seemingly forgotten and overlooked for years it is just starting to wake up. There are good reasons for this. Things are happening which could cause the price to explode upwards.
Read on to learn more.
Disclaimer
I am not your financial advisor, and nothing in this blog should be taken as financial advice. Do your own research.
- Never invest more than you can afford to lose.
- Never put all your eggs in one basket
What is this crypto-currency with so much potential?
I am talking about the alt-coin called GET which is a component of the GET Protocol.
You can easily find the GET Protocol on Coingecko. Its ranking is around #653rd place, meaning it is a pretty small coin.
GET stands for ‘Guaranteed Entrance Token’. This is an ERC20 token, and it’s a crucial component of the GET Protocol. It’s a utility token, which means that it serves a specific goal within its ticketing solution.
What does GET Protocol do?
It’s the future of ticketing for events, concerts, plays, sports, live-streams, or basically anything that needs a ticket to gain access. It is being used daily.
A solution to ticket fraud and scalping
GET was set up in 2016 to develop a digital ticketing solution. It solves two important problems facing ticket issuers:
- Fraud (The practice by some criminals of selling invalid, fake or copied tickets)
- Scalping (Scalpers use bots to buy up 100s of tickets as soon as they become available and then re-sell those tickets at extortionate prices)
GET solves the massive scalping problem, preventing bots from buying up 100s of tickets to re-sell at 4X, sometimes 10X the original price. It avoids the loss of goodwill, ill-feeling and loss of genuine fans that ticketing companies suffer due to this scalping activity.
The GET Protocol is in daily use by multiple ticket issuers
The GET Protocol is a “white-label” product meaning that any ticket issuer can use the GET protocol when issuing tickets. Ticket issuers in 4 countries are now using the GET Protocol. The list is expected to grow.
Thousands of events have already been ticketed using the GET Protocol. In 2020, despite the Covid-19 pandemic, some 236k tickets were issued using the GET Protocol.
In 2021, as the pandemic continues, thousands of GET Protocol powered tickets are still being sold an a daily basis. Live-streaming events are the new norm. A live-stream event can attract even larger audiences than physical events
How does GET protocol work?
Tickets are registered on the blockchain and connected to visitors’ smartphones, making fraud impossible.
The tickets are issued directly to the user’s mobile phone inside an app. Only the person carrying the phone can use the ticket(s). Scalping is avoided because the user can’t re-sell the ticket except on terms programmed by the ticket issuer.
If the ticket issuer wants authorise reselling, then the GET Protocol facilitates (re)selling in a controlled way. Making use of the GET Protocol requires a fuel, called the GET token, or simply ‘GET’. For example: Tickets that are sold and resold by ticketing companies using GET Protocol require GET to perform their duties.
If a ticket is programmed to allow a resale, the issuer can set conditions such as a maximum price and a fee. The fee earned on a resale can be paid 100% to the performing artist.
Every interaction with the ticket is recorded on the blockchain. The data is available to the ticket issuer in real time. He has total control and insight during the event cycle, thanks to the real-time data that shows ticket ownership & activity.
Although it is completely invisible to the ticket buyer, each ticket is powered by a small amount of GET. This GET has to be bought by the ticket issuer in bulk. The cost is approximately €0.28 per ticket sold.
From the end-user’s point of view, she has just bought a ticket which is delivered to an App on her phone. The whole blockchain thing is completely invisible to the ticket holder.
Why do I think that the GET Protocol token has potential for an enormous price increase?
Small Market Cap
I like small-caps because they can make very big moves in a short space of time. Small-cap cryptos sometimes deliver 100's even 1000's of percent gains within days of being “discovered”. Longer term moves of 100x or 1000x are not uncommon for small lesser known crypto. Look at the snapshot of smallcap coins in the ranking range of #600 to #700 below. More than 10% of them made 100%+ gains over the last week. Almost every week some do that.
At the time of writing the GET protocol’s market-cap is well below $20 million million. That’s abysmally small for a startup which solves and eliminates one of the most anti-consumer practices which plague the industry.
We are much more likely to make a large gain with a small-cap crypto than with a large one. It would be very hard for a $20 billion token like Polkadot to do 10x, let alone 100x. This wouldn’t be such a stretch for GET. Some of the most prominent and longest standing cryptos have achieved these returns.
Real World Use
I like to invest in things that I understand. Things with a real and practical use.
Many cryptocurrencies have weak or even non-existent use cases. Others apparently have a valid use, but it is very hard for me to understand what it is all about. I don’t much like tokens which are of little relevance to me.
Unlike many tokens, I actually understand what the GET Protocol token does.
It solves scalping and ticket fraud. What does this mean for me? It means I pay the price the artist intended.
I also have the assurance that the ticket I possess is authentic. Nobody can make a copy of the ticket or sell me a fake. And yes, I have already bought a GET powered ticket to a March livestream event.
Supply and Demand
I like anything that has an increasing demand and a falling supply.
Falling supply and rising demand are the perfect ingredients to drive up the price.
GET Protocol offers the best of both worlds.
There was an original fixed supply of 33.4 million tokens. The GET attached to each ticket (€0.28 worth) is burned after use. The available supply of GET is thus falling. It is a deflationary token.
As for demand, this is likely to increase dramatically, once the current lockdowns are finished. Concerts, sports events and all kinds of shows will restart. There is a lot of pent-up demand and young people, especially, want to get out and party.
Despite the worst month ever for lockdowns, in January 2021, GET Protocol to powered a record number of tickets involving 173 events.
The Get Team have been working diligently during the pandemic to sign up new ticketing companies for the white label product. Each new ticketing agency which signs up could generate 100s of thousands of tickets, if not millions. As each ticket must contain a portion of GET, the demand for GET is set to increase.
Click here to see the GET team and their bios.
The Legal Environment is favourable to ending scalping
Governments are under pressure to bring in laws to crack down on ticket touting and scalping. For example in the UK, the Digital and the Creative Industries Minister Margot James said:
“Fans deserve the chance to see their favourite artists at a fair price. Too often they have been priced out of the market due to unscrupulous touts buying up huge batches of tickets and selling them on at ridiculous prices.”
The UK has recently brought in legislation
“to make it an offence to facilitate, or enable the completion of any part of the purchasing process with an intention to acquire excess tickets — i.e. the use of so-called “bots” to bulk buy tickets.”
Since the GET Protocol effectively solves this problem, ticketing agencies will come under pressure to use the GET Protocol solution, One of the first users was the Dutch startup called Guaranteed Unique Ticketing System (GUTS). When bringing in the UK legislation the British government specifically mentioned GUTS as a solutions provider:
“Government work is being bolstered by new approaches in the private sector: Dutch startup Guaranteed Unique Ticketing System use blockchain technology to make it impossible to resell tickets at a higher price.”
It is widely expected that other governments, particularly the USA will follow with their own legislation in the coming years.
Buy-burn
Lastly, GET is engaging in an active “Buy and burn” of its tokens which should help support the price.
With a decreasing supply, and an increasing demand, I expect to see a positive price action.
GET is not a new project
I like to invest in projects which are already working. Many of the coins out-there represent projects which are still in the planning stage, or which still have yet to deliver a finished product.
Whereas most projects over-promise and under-deliver (and in most cases, fail), GET has consistently delivered on their promises, while building a company that has sold half a million tickets since inception, and garnering the financial backing and support of some of Netherland’s most prominent artists.
The GET Protocol is finished and has been up and running for several years. In January 2021 over 170 events used GET as the gas to power their tickets.
Expansion has already happened across several countries, including Italy and South Korea. More ticketing agencies are likely to use the white label product soon.
Team
I prefer to invest in alt-coins where I can see the team.
How many alt-coins don’t seem to have a proper team? Many don’t even have a picture or bio. These are to be avoided.
In GET’s case, the team are as transparent as can be, with key members attending multiple conferences and allowing investors to come visit their office. You can see the full team and their bios here.
The GET team is very well known in Holland. You can see the CEO appearing on this video three years ago, explaining to the artists how the GET Protocol solves the awful scalping problem. it’s terribly funny as the host does not know what a blockchain is.
Communications
I pay close attention to how well a company communicates when I am contemplating an investment. I like to see a regularly updated website, road map, and activity on Twitter and Telegram.
GET is regularly updating the public with blogs and news published on their website or other channels such as Medium. Furthermore they are active every day on Telegram and Twitter. Getting in touch has proven to be easy. Getting answers to all my questions even easier with knowledgeable members active in the Telegram group. Everyone in the community is responsive and helpful and are doing their part to see GET succeed.
More to come
GET is working on some very important projects at the moment such as GET event financing using NFT tokens. I won’t go into all the details of the exciting developments coming this year. You can read more here andhere.
The Netherlands, is the homebase to GET and ticketing company GUTS. They will benefit from the confidence organisers will have to book events in the second half of 2021 thanks to a government guarantee fund.
“The guarantee fund — similar to those announced in Germany, Austria and Switzerland — is intended for music festivals, business fairs and sports competitions that attract a minimum of 3,000 visitors and take place in Q3 and Q4 of this year.”
GET Protocol user GUTS Tickets say they are gearing up to take maximum advantage of the loosening restrictions.
There is a lot happening with GET, some announced and some to be announced when ready. You can read about some of the latest developments in Olivier Biggs’ blog of 29th January 2021
The GET Protocol token is an undiscovered GEM
While most ICO’s saw phenomenal returns in 2017, the majority of these projects were unable to sustain their newfound success, largely because they had their priorities backwards. While most projects looked to the short term, GET’s focus has always been on the long term, choosing instead to build the infrastructure and to let their service speak for themselves, holding off on marketing efforts.
GET seems to be overlooked. There seems to be no YouTuber talking about it yet, despite the GET story being much more powerful than many of the tokens being promoted. It’s only a question of time before GET attracts the attention of someone in the media.
That lack of attention may be about to change. Recently, the team has revealed their plan to ramp up their marketing efforts which may finally help the company reap the fruits of their efforts. They are actively looking for a marketeer person to add to the team.
Price
All too often I am discovering a crypto that I think has potential, only to find that it has already gone up 10x, 20x or 50x before I discovered it. Clearly I won’t make as much money as I would have made, had I found it earlier. I hate missing the boat.
With GET, we are in luck! The price is still low. I have found it early. The token has barely gone up, whilst much of the crypto market was soaring.
GET seems to be overlooked. There seems to be no YouTuber talking about it. The GET story is much more powerful than many of the tokens being promoted. It’s only a question of time before GET attracts attention of someone in the media.
Since last September the price has spent most of its time stuck in a narrow range below $0.70. This has led to some community members jokingly calling GET a “stable-coin”. However in the last week the GET has broken out of the trading range touching $0.95 before falling back to below $0.80. That’s very cheap, considering it could potentially do 100x or 1000x if events return this summer. Think what a million tickets with €0.28 of GET would do to the price of GET. Uniswap tells us the answer. The price would nearly double to $1.32.
But a million tickets could prove to be very conservative estimate, given all we know. More ticketing agencies are likely to start using GET’s white label system. What if it was 5 million tickets sold? How about 150 million tickets? If a large ticketing agency like TicketMaster were to adopt the technology, then the sky’s the limit. Crypto anticipates the future long before it actually happens.
Apart from the obvious of being “discovered” by a YouTuber, the mere fact that the lockdowns will come to an end soon should mean more concerts, more events, more sports and more tickets sold. That simply means more GET must be purchased by ticket issuing companies and burned after use. All of that translates into an enormous upside potential for the GET token.
I believe price discovery will take place very soon.
Where to buy GET tokens
Whilst GET trades on a number of exchanges, it is probably best to only buy it on the Uniswap Decentralised Exchange. Uniswap has a deep liquidity pool, meaning you can trade tens, even hundreds of thousands of dollars worth.
I strongly advise against using the other exchanges as liquidity is nothing like that available on Uniswap.
Most people trade GET against Ethereum although some other crosses are available. You can check the recent prices yourself.
Becoming a Liquidity Provider on Uniswap
Uniswap charges 0.3% on every trade which it processes. 100% of that fee is given back to the Liquidity Providers proportional to their fee. You have to deposit an equal value of GET and ETH and you will receive a return paid in both ETH and GET equivalent to your share of the total fees generated. At one point yesterday the annualised return rate was running at well over 40%, but earlier today it had dropped down to around 20%. In addition liquidity providers regularly receive airdrops of GET tokens paid from the GET support fund which increases your reward for being a LP.
Conclusion
Considering everything, GET Protocol is an undiscovered gem that could easily soar when it is discovered. If you share my view, you will want to get in before the others. Don’t wait for the rush. Don’t be last. Do your own research before relying on me. This is not financial advice.
Disclosure
I do not work for the GET or GUTS. I have not been paid to write this article. I have not asked for any form of remuneration or reward, and will not do so. You cannot remunerate me through Medium’s reward system either.
Feel free to give me a “thumbs up”, if you like the effort put into this blog.
