CoinDesk and Art Blocks Release Microcosms to Supercharge IRL Events With NFTs
Microcosms is a new ticketing and reward system introduced by CoinDesk for its Consensus conference. It leverages blockchain technology to create a decentralized and community-driven approach to live event experiences. Microcosms consists of up to 1,000 unique digital art pieces (NFTs) created by generative artist and engineer Fahad Karim.
By holding a Microcosm NFT, the owner also receives a companion Pro Pass that grants access to the Consensus conference for the next three years. This Pro Pass is an on-chain asset that can be used, gifted, or sold. In addition to access, Microcosm holders have the opportunity to receive additional rewards that deepen their connection with Consensus and the industry. The reward system resets each year until 2025.
Microcosms utilizes the Art Blocks Engine, a platform that connects artists and audiences through collectible digital art. Generative art, which uses algorithms written to a smart contract, is a native use case of the Ethereum blockchain. The Art Blocks Engine enables creativity and generative design secured by blockchain technology.
The rewards system for Microcosms goes beyond event access. Holders receive the DESK token, which can be used at the conference for various purposes such as food, drinks, merchandise, or experiences. Based on an algorithm, some holders will also receive special rewards like speaking slots, booths on the show floor, comped hotel stays, or meetings with venture capitalists investing in Web3. If a recipient has no use for a reward, they can sell it on the open market.
This reward mechanism continues annually for the next three years, and all in-person rewards received are airdropped as additional NFTs for the holder to redeem or sell.
Microcosms represents an attempt to add value to the live event industry and reward consumers rather than purely extracting value from them. While it is still early to determine the impact of such decentralized systems, this model aligns with the ethos of the blockchain industry and opens up new possibilities for consumers and event fans worldwide.
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