Toptal team saves event-ticketing startup 74% on development of blockchain software.
A ticketing startup was poised to eliminate these challenges through an NFT-based solution, but needed a technology partner to explore the market and build their product.
Client
A startup building an NFT-based, blockchain-backed event-ticketing platform for artists and sports teams.
Industry
TechnologyDelivered Services
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In the age of smartphones and QR codes, the ticketing experience has grown cumbersome: Though the event-ticketing industry is projected to grow to $94.92 billion by 2027, sports teams and artists lose ticket profits to third-party vendors and face ticketing fraud on a broad scale. They struggle to connect with fans who have lost both the personal touch and security of a physical ticket and who might perceive electronic tickets as less valuable.
Solution
Uncovering market needs
Toptal sourced a lean team led by an experienced project manager to perform deep UX research and uncover what elements were vital for their MVP. Toptal’s financial advisor and blockchain expert worked in parallel to define what was possible for the client, both financially and operationally.
Cutting-edge development technology
In the subsequent weeks, the team scaled to eight total specialists leveraging Polygon, Fortmatic, and Wyre to construct the blockchain elements. AWS application runtimes and PostgreSQL provided the necessary scalability and utility to build a cloud solution suited to large-scale growth.
Outcome
Disrupting the status quo
In just three months, Toptal’s team delivered a lean MVP of the client’s groundbreaking software. The product could be scaled to help companies bundle blockchain-backed tickets, perks, and tokenized collectibles, boosting perceived ticket value for fans and generating residual revenue for the brand.
Cost savings of 74%
By performing deep research into the target market and opportunity landscape, Toptal was able to isolate what features were necessary to attract clients and investors, trimming the potential cost from over $500,000 to just $130,000—while still producing a robust, premium product.
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