Ontario Wants to Cap Ticket Resale Prices. Here's Why It Matters and Why It's Hard to Fix. - That Eric Alper (zurl.co)

submitted 1 day ago by n7gifmdn@lemmy.ca to c/canada@lemmy.ca

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[-] dylanmorgan@slrpnk.net 2 points 23 hours ago

This is one of the very few practical use cases for NFTs. You could embed a maximum price, and the cost of maintaining the record would not be an issue if you scrapped it after the show or tour was complete.

[-] Corngood@lemmy.ml 3 points 16 hours ago

How could you enforce a maximum price? People will just negotiate and pay outside of the system.

[-] dylanmorgan@slrpnk.net 2 points 16 hours ago

NFTs include a ledger that would track what was paid for them. While it would be possible for individuals to collect separate payments, that would be difficult to scale, and the issue with scalping is much more with companies like stubhub than one off sellers.

[-] BCsven@lemmy.ca 2 points 14 hours ago

Currently yes, but before everything was online there was a ticket market for cash through stores and individuals, or a guy at the venue lineup. So same thing was possible...but a ticket for $50, sell it for $200 in the lineup. NFT will not solve a cash payment