Conditional tickets are a new type of event ticket that allows fans to purchase access to future events based on specific outcomes. Here’s how they work:

• Fans can buy tickets for potential future matches (e.g., a team reaching the finals) at a fraction of the full ticket price.
• If the condition is met (e.g., the team makes it to the finals), the ticket becomes valid for the event.
• If the condition isn’t met, the ticket becomes invalid, but the fan only paid a portion of the full price.

This system allows fans to secure seats for potential high-demand events early on, at lower prices, while also providing a new, exciting way to engage with sports tournaments.

Sellers have a strong incentive to list tickets on ParlayTix due to the potential for higher returns compared to traditional platforms like StubHub. Here’s why:

• Emotional Pricing: ParlayTix allows sellers to tap into fans’ emotional investment in specific outcomes. For instance, a fan might pay more for a conditional ticket to see their team in the finals than they would for a general finals ticket.
• Multiple Revenue Streams: Instead of selling one ticket, sellers can create multiple conditional tickets for different outcomes, potentially earning more if all outcomes are sold.
• Higher Overall Value: If all conditional outcomes are sold to passionate fans, the total revenue can significantly exceed what a single ticket would fetch on StubHub.
• Early Market Access: Sellers can list conditional tickets much earlier in the tournament, capturing fan excitement and willingness to pay before teams are even determined.

By leveraging the unique emotional and speculative aspects of sports fandom, ParlayTix creates a win-win situation where sellers can maximize their returns while fans get the opportunity to secure potential access to dream scenarios at more accessible initial prices.

No, the conditional ticket you purchase is not the actual event ticket. It’s a digital voucher that gives you the right to claim the official event ticket if the specific condition (such as your team making it to the finals) is met. Here’s how it works:

• The conditional ticket is a blockchain-based token representing your claim to the actual ticket.
• If the condition is met, you can use this token to redeem the official event ticket.
• If the condition is not met, the token becomes invalid, but remember, you only paid a fraction of the full ticket price.

This system allows you to secure potential access to high-demand events early on, at lower initial costs, while adding an exciting element of anticipation to your event experience.

No, our marketplace benefits both ticket resellers and fans. Here’s how:

• Ticket resellers can potentially get a higher return on their inventory by selling conditional tickets for multiple outcomes.
• Fans can share final tickets they buy with each other, allowing for more flexibility and community engagement.
• Most importantly, this platform ensures that fans are not forced to pay maximum prices once their team has qualified. They can secure potential access to high-demand events early on, at lower initial costs.

Our goal is to create a more balanced and accessible ticketing ecosystem that benefits all participants, not just scalpers.

Yes, there is a way to redeem the official locked ticket before the final outcome is determined, but only under specific conditions. As we extend the Gnosis Conditional Token Standard, our platform allows for a unique “merging” feature:

• If a user owns all the still valid conditional NFTs for a ticket (meaning they hold the NFTs for all teams that haven’t been knocked out yet), they can “merge” these conditions.
• This merger allows the user to redeem the collateral (the original ticket) and claim the official NFT ticket.
• The oracle invalidates NFTs for teams that are knocked out, ensuring only valid conditions can be merged.

This mechanism serves a crucial function in our ecosystem. It allows traders and market makers to balance demand with traditional secondary markets like StubHub. By enabling early redemption through merging, we create a fluid connection between our conditional ticket market and conventional resale platforms, ensuring efficient price discovery and liquidity across the entire ticketing ecosystem.

We have implemented robust security measures to ensure the validity of all tickets on our platform:

• We have direct API integrations with primary ticket issuers to verify and invalidate tickets in real-time.
• The original QR code or ticket information is never seen by anyone, including us. It remains encrypted throughout the process.
• Only the holder of the winning conditional token can decrypt and access the official ticket.
• This encryption process guarantees that the ticket remains valid and untampered until it’s claimed by the rightful owner.

By leveraging these advanced security protocols, we ensure that every ticket on our platform is authentic and valid, providing you with peace of mind when purchasing conditional tickets.

The official ticket is securely locked in our smart contract through a sophisticated encryption process. Here’s a simplified explanation of how it works:

• At its core, a ticket is essentially an encrypted private key, typically in the form of a QR code or barcode.
• We use advanced encryption techniques to secure this ticket data within our smart contract.
• The smart contract then issues conditional tokens that represent potential access to this encrypted data.
• When a user with a valid conditional ticket claims the locked ticket, the QR code is re-encrypted using the public key of that specific user.
• This ensures that only the rightful owner of the conditional NFT can decrypt and use the ticket.

ParlayTix is technically a prediction market for event tickets, extending the conditional token standard popularized by prediction markets like Polymarket. Our premier product allows users to speculate on future event outcomes, similar to traditional prediction markets.

However, from a user perspective, ParlayTix feels more like a simple ticket marketplace. Fans can purchase cheaper, more speculative tickets for high-demand events early on. This approach allows buyers to potentially secure seats for major events at lower initial costs, adding an element of excitement and accessibility to the ticket-buying process.

In essence, ParlayTix combines elements of prediction markets with traditional ticketing, creating a unique platform that offers both speculative opportunities and practical access to event tickets.

Creating a listing for your ticket on our platform is a simple process:

1. Upload your ticket: Start by uploading your official event ticket to our secure platform.
2. Security check: Our advanced tools will verify the authenticity and security of your ticket.
3. Select your options: Choose which outcomes of your ticket you want to keep and which you want to sell.
4. Set your price: Determine the price for each outcome you wish to sell.
5. List your ticket: Once you’ve made your selections, list your ticket on our platform.
6. Marketplace distribution: Our system will automatically list your ticket NFTs across various marketplaces, maximizing your visibility to potential buyers.

This process allows you to easily fractionate your ticket into conditional NFTs, giving you flexibility in how you manage your ticket while potentially earning from outcomes you’re not interested in attending.

Our platform allows you to earn from ticket resales in a unique and secure way. Here’s how it works:

• Conditional tickets are created as NFTs (Non-Fungible Tokens) on our platform.
• As NFTs, we can embed smart contract rules that govern future resales of these tickets.
• These rules ensure that original ticket listers receive a percentage of each subsequent resale.
• This means you can continue to earn royalties even after your initial sale, potentially throughout the entire lifecycle of the ticket.

By leveraging blockchain technology, we provide a transparent and automated system for royalty distribution. This ensures that you, as the original ticket lister, can benefit from the increasing value of high-demand tickets, even in the secondary market.

The way this concept is showcased and explained on this website is geared toward crypo native readers. This because we are at the moment still building this product and in this stage we are looking for partners and backers. The copy on this site is geared to efficiently communicate to this reader what our vision is.  

The website/platform geared towards sports fans would not mention terms as ‘prediction market’, ‘conditional tokens’ and even ‘NFT’. We would exclusively focus on that our tickets are ‘parlay style final tickets’ or the idea that a group of fans can co-own a final ticket together and that the fan of the team reaching the final will be able to use the ticket.

Long story short; we believe that the idea of ‘cheap event ticket with a gambling element’ is a pretty simple concept. The nuts and bolts on how we deliver that is not needed for regular ticket buyers – the reason we use this jargon on this site reflects the stage we are in as a company.

No, any event ticket can be gamified and/or fractionalized in ways that do not involve a teams performance. The conditions can be social, financial, game-based – anything.

We have chosen tournament tickets as our initial focus because of the exceptionally high demand for these tickets. Fans will go to great lengths to secure these tickets, and this is the market segment where scalping is most prevalent. This combination of cultural significance, high demand, and the pain points associated with exploitation makes this version of our product the perfect entry point.

The broader vision of ParlayTix is to offer a comprehensive suite of ticket gamification tools, designed to work seamlessly with existing ticketing technologies. Subscribe to our mailing list to stay updated on the exciting products we’ll be launching.