PhoenixDAO is an open-source, digital identity project that facilitates a decentralized ecosystem by allowing applications to leverage its system. It is a community-driven project that aims to empower the new digital economy.
The project covers DeFi, NFT, and decentralized governance through authentication, payments, and linked identity through a suite of protocols and products. The shortcomings of the ticketing and event management industry can be solved with PhoenixDAO.
Perks Offered By PhoenixDAO
Clients and users of PhoenixDAO can utilize the three-tier service the company offers them. The dApp is right on top of this list. It provides the community with a platform to showcase its innovations. The community can use this platform to find investors and funding.
The perk of a decentralized community is to provide unbiased opportunities to its members. Second on the three-tier service is the identity protocol. It allows the creation and management of digital identities.
The ticket identification process can thus be performed in a secure and straightforward manner. The identity protocol also enables the third benefit: users of the DAO can develop and use next-gen dApps using the platform.
PHNX Tokens Can Be Staked!
The custom-built DAO used by PhoenixDAO allows the platform to own a unique set of characteristics, unlike other platforms on the DeFi market. The native token PHNX powers the platform. It acts as a payment pillar for all transactions.
Now, users can stake PHNX tokens with the newest product on the PhoenixDAO ecosystem: the PhoenixDAO Spot Staking dApp. Using this app, users can maximize their earnings with liquidity farming and staking tokens.
Revamping The Event Management Sector
The PhoenixDAO Events dApp is based on Ethereum and is a fraud-proof event management and ticketing solution. Being fully transparent, PhoenixDAO eliminates the possibility of counterfeiting by verifying the tickets using a peer-to-peer identity protocol.
There is more revenue to earn with a reduced transaction cost fee, benefitting the event management industry. The application can also be used to mint ERC-721 tokens: it assigns a non-fungible-token to the ticket reducing the chance of selling and repurchasing tickets.
Polygon Integration Lowers Transaction Fee Costs
PhoenixDAO is boosting cryptocurrency adoption in the mainstream sectors by allowing users to purchase tickets with the PHNX token. The in-app purchases with the native token have helped the event management industry create a unique opportunity.
The recent Polygon side-scaling solution will lower PhoenixDAO’s transaction fees costs. Polygon will enable the platform with a robust structure and unparalleled functions to improve the software and event management market.
An NFT Marketplace With Benefits
PhoenixDAO offers its users unparalleled benefits provided with blockchain solutions: it can eliminate duplicate and counterfeit tickets, and users can make monetary transactions on a secure platform. Illegal sales of tickets with pumped-up prices can be curtailed by setting rules for ticket reselling and limiting secondary commissions.
The transactions and verification processes are entirely transparent and private, thanks to the decentralized infrastructure provided by PhoenixDAO. Create and managing an event on the app is a simple process: Users only need to provide details such as location, time, category, and pricing of the tickets.
The DAO platform is revolutionizing NFTs by creating unique tickets that buyers cannot resell without prior permissions. The NFT marketplace, due for launch later this year, will allow users to transfer and eGift tickets to their loved ones in a secure manner.
PhoenixDAO Is Building A Platform For The Future
The event management and ticketing industry, valued to reach $11.4 billion by 2024, is being improved with crypto solutions offered by PhoenixDAO. The community-led platform uses blockchain technology to ensure security, transparency, and longevity.
The platform will launch its NFT Marketplace by Q4, 2021, which will encompass functions that will allow the DAO platform to streamline the process of ticketing and event management. PhoenixDAO is future-proofing itself by covering all its bases with the addition of NFT: it already has blockchain DAO and DeFi functionalities in place.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.