Blockchain Use Cases for IRL Events
Almost all our communication and interaction methods now take place through social media. It has introduced a brand-new reality that has altered how we communicate, make friends, work, and even plan social events. It has also affected how we organize our work environments. Users can host virtual events, hangouts, and meetups using services like Tiktok, Snapchat, Twitter, Discord, YouTube, Telegram, Zoom, Google Meet, Slack, and others, giving them an experience that is practically identical to being in person. These platforms have seen tremendous adoption and popularity because of their ease of use and continuous product innovations, almost eliminating the need for IRL events and other meet-ups.
Contents
- What are IRL events
- Blockchain IRL events
- Brief History of Blockchain IRL Events
- Blockchain Use Cases For IRL Events
- Unexplored Future Use Cases
- The success of IRL events in Web3
- Benefits of IRL Events to the Blockchain ecosystem
- Closing Thoughts
- References
What on earth is an IRL event, though? Why even does it matter? In this essay, we’ll examine what IRL events are, a brief history of IRL events in the context of blockchain technology, IRL event use cases on the blockchain, and potential yet undiscovered use cases. We’ll also examine the benefits of these IRL events to the blockchain ecosystem.
What are IRL Events?
IRL is an online acronym for “In Real Life.” It has been used since the 1990s and was included in the Oxford English Dictionary in 2000. It is an acronym to differentiate between online and real-life events. It is used when someone talks about something real outside the digital world of communication, gaming, social media, TV, or virtual reality.
IRL events are created to organize social gatherings, conferences, summits, conventions, exhibitions, expos, concerts, and other events in order to, among other benefits, bridge the gaps in our interpersonal relationships. As we’ve previously seen, these gaps are due to our excessive reliance and dependency on recent communication models, which mostly rely on texts, social media, and virtual events.
With the emergence of new technologies as primary sources of communication, particularly in the domain of Meterverse in the Web3 space, the distinction between IRL and digital interactions has grown more prevalent. The use of IRL prevents misunderstandings with terminologies like hang-outs associated with video chats/calls or VR events related to the Metaverse.
Blockchain IRL Events
Without question, Blockchain has transcended the boundaries of the financial sector to become a disruptor for various industries, including payments, cybersecurity, healthcare, and e-commerce. The blockchain’s unique features have enabled it to be utilized in these numerous applications and use cases. As a result, it has gained widespread acceptance and usage.
In line with this, Cryptocurrencies and NFT have received extensive media and online coverage. The overwhelming number of daily news and developments in the field have made it difficult for anyone, whether they are a blockchain nerd, astute investor, or just interested in dipping their toes into this new craze, in staying up to date.
For this reason, meet-ups, conferences, summits, etc. (IRL events) are the most excellent places to learn about the latest developments in the field and connect with experts.
IRL events are called “Blockchain IRL events” when they are hosted by platforms focusing on blockchain technology. These events feature prominent figures from the DeFi, metaverse, NFT, gaming, and CeFi sectors of the blockchain ecosystem and provide attendees with a chance to socialize, network, and even party (yes, party) with like-minded individuals.
Blockchain IRL events showcase excellent representations of the Blockchain ethos and culture. They can range from casual get-togethers over drinks to official speeches and panels, small-scale conferences, and even large-scale gatherings with tens of thousands of attendees.
Nowadays, there are a ton of blockchain conferences, networking events, and more taking place annually all around the world. Over the social media platforms or the communities of Web3 protocols, we must have come across messages like “who else is going to ‘XYZ’ event happening at ‘ABC’ location?” from community members. Something more like this.
A blockchain event takes place almost every day of the year, and each is set up for specific goals in different sectors of the blockchain ecosystem. Keeping track of these events has become more difficult due to this. How did we get here? Let’s look at the evolution of Blockchain IRL events over time.
Brief History of Blockchain IRL Events
In November 2011, Mitchell Bourne organized the first bitcoin conference in Prague in collaboration with “The Bitcoin Consultancy.” Because bitcoin was the only cryptocurrency launched then, the organizers named the conference “bitcoin conference.” The turnout exceeded expectations, which inspired the idea of holding more such events.
The second bitcoin conference took place at Imperial (Russell Square), London, the following September from the 15th to the 13th. This time, only “The Bitcoin Consultancy” organized the event, and it included numerous speakers from the bitcoin community and presenters with backgrounds in Linux and other fields.
Blockchain Use Cases For IRL Events
In recent years, there has been a growing interest in using blockchain technology for various real-world applications. While blockchain’s most well-known use case is ‘cryptocurrency,’ the technology has many potential uses that extend far beyond this single use case.
One area where blockchain is beginning to gain traction is in the realm of event planning and management. There are several potential use cases for blockchain in this domain, ranging from ticketing and identity verification to event planning and logistics.
1) Events Tickets
The current ticketing system has several issues that make it susceptible to fraud. One of the primary problems for visitors is whether they bought a confirmed ticket or a phony ticket. It is impossible to track clients or share data outside the boundaries of a vendor. Also, Users utilize ticketing bots to cause chaos during the sales of digital tickets by purchasing tickets in bulk online and reselling them on the secondary market.
By utilizing blockchain for tickets, event organizers have eliminated event ticketing fraud and improved the security of the entire process. This is achieved through Smart contracts and NFTs used to generate tamper-proof individual tickets. Smart contracts are also utilized to ensure that tickets can only be resold at face value, producing a secondary market for tickets generated on-chain. This feature makes it less likely that tickets would be sold on the black market and would make it simpler for event organizers to keep track of ticket sales.
NFTs have revolutionized the ticketing process for both ticket buyers and organizers. They offer the following advantages:
- Reduced production costs,
- preventing fake tickets and frauds,
- Rapid and smooth production,
- and new revenue prospect
Rush49, an experienced Web3 live event-and-experience platform, is one project that has already begun using this feature. They have collaborated with INSID3RS, a Web3 platform for improving the monetization of event ticketing, to introduce the Web3 INSID3RS Pass NFT collection.
With the Web3 INSID3RS Pass Collection, members can attend events like DCENTRAL, Permissionless, Consensus, NFT.NYC, etc., for themselves and their teams at early bird prices. Additionally, they get access to special privileges like invite-only networking events and after-parties, VVIP expedited services at events, the INSID3RS lounge, and much more.
2) Payments
A point-based system that enables event organizers to access participants and talent from around the world has been made possible using blockchain technologies. Payments for tickets and other essentials are conveniently accessed from the comfort of our homes because of the borderless nature of blockchain transactions. Additionally, event organizers are able to reward participants who complete tasks like bounties, and hackathons, providing feedback more seamlessly using the blockchain.
Furthermore, with the help of Blockchain-powered platforms, event organizers have been able to manage a variety of suppliers who provide services like food, audiovisuals, maintenance, security, and more. After verifying their authenticity, event planners can book their services and swiftly make payments.
Lastly, Blockchain technology enables event organizers to centralize the ticketing system, resulting in a uniform and transparent ticket sales procedure. Because this method is secure and efficient, it reduces expenses for various event management tasks related to ticketing.
Evado is a blockchain-based product developed specifically for this purpose. Evedo seeks to offer blockchain solutions to companies and individuals involved in event planning. It operates via its utility token — EVED, to produce smart contracts between ticket purchasers and sellers. Although Evedo profits from ticket sales, it provides a 0% commission if the event’s organizers use EVED. Furthermore, there is a 5% fee for using fiat.
3) Marketing and Promotion
Product placement is a type of advertising prevalent in today’s advertising world where organizers of branded goods and services are highlighted in a production that reaches a broad audience. Giant billboards, tailored web advertisements linked to users’ search history on the internet, and sponsoring well-known events are some ways to accomplish this.
But there are several difficulties and inefficiencies with this method. For instance, advertising fraud, which means tricking advertisers with fake engagement generated by bots to boost profit, has become a severe problem in the sector, causing the industry to lose billions of dollars.
Blockchain marketing employs blockchain technology as part of a digital advertising strategy to maintain up-to-date information, improve data security, and transparently display customer behavior. Brands can now build more focused marketing without sharing as much data with several businesses, strengthening the bond between them and their customers.
Event organizers use the Blockchain to develop and monitor digital marketing campaigns for IRL events targeting specific and needed audiences. For instance, the success of their marketing campaigns can be tracked using Blockchain, allowing them to issue event promo codes.
Additionally, event organizers can better attract and establish connections with potential marketing partners because they can directly reach their target audiences at these events when using the Blockchain to transparently and securely run advertisements before or during IRL events.
An example of a platform that uses Blockchain technology to help marketing and advertising teams optimize their content for digital platforms based on the data they gather is Amber.
The Ambire AdEx platform is free to use for both advertisers and publishers. It has a self-serve forum with real-time reporting that gives advertisers insights into the most effective advertising channels while also taking out the intermediary to enhance publishers’ earnings.
4) Management and Logistics
IRL events, as previously noted, are wonderful marketing opportunities for companies. However, achieving high audience engagement and participation levels is critical for creating a significant marketing impact and can be time-consuming.
Systems for organizing events on the blockchain are utilized to provide more engaging and creative experiences for event attendees, resulting in more event participation and excellent outcomes for event organizers. Businesses have found it increasingly desirable to leverage this technology to address event management issues.
Web3 protocols use blockchain technologies to increase audience engagement by providing participants with themed souvenirs, unique artifacts, perks, NTFs, and proof of attendance protocol (POAPS) that have secondary market value.
Additionally, event organizers use Blockchain to streamline the event planning process by using Blockchain-based smart contracts to manage event logistics, such as reserving venues and procuring supplies. Smart contracts are also used to send out reminders to attendees and track RSVPs, allowing event planners to focus on other aspects of the event, like marketing.
5) Crowdfunding and Sponsorship
In the present blockchain ecosystem, there are various crowdfunding and launchpad platforms that assist startups in obtaining funds to develop their own digital currency and build their products. These platforms exist because of the blockchain’s great properties, such as decentralization, equity access, universal opportunity, worldwide accessibility, peer-to-peer, and so on.
IRL event organizers can also utilize these platforms to generate funds and seek donations from participants and investors during a live event through sponsorships, fundraising, etc. These Blockchain platforms offer a means of collective contributions that is open, safe, and verifiable.
Some of these platforms include Kickstarter, Indiegogo, Patreon, GoFundMe, Fundable, etc.
Unexplored Future Use Cases
1) A Rigorous Reward System
Rewards from certain activities, such as contests, hackathons, marketing campaigns, etc., organized as part of the activities before or during an IRL event can be infused as tokens or NFTs, which provide unique privileges during the event.
For instance, based on the number of tokens or NFTs they possess, attendees’ transactions can be assigned unique IDs throughout the event via blockchain. Each transaction they make to redeem a reward will result in a deduction of the tokens. The same can be attached to a wearable device or a piece of paper for unrestricted movement and access throughout the venue.
These reward points can be redeemed for free items like lodging or meals, VVIP programs, as well as for travel expenditures, and other things. By using such a system, event managers can build more participatory event environments, and participants will be more interested in events.
Another illustration, or use case, for this functionality is attendees checking into hotel rooms. Event planners can utilize blockchain technology to connect attendance to a hotel room where the event is held. When they go to their room, they can tap their ticket on the door to enter or show the organizers an artifact they were given. This reduces the need for checking and thus reduces dependence. This holds regardless of where you check in at the event premises.
2) Identity management
Traditional identity systems in use today are fragmented, unsafe, and exclusive, and there is no assurance that the data stored there is of high quality. With essential advantages for businesses, users, and event organizers, blockchain offers more secure management and storage of digital identities by offering a uniform, interoperable, and tamper-proof architecture.
A decentralized identity is a pseudo-anonymous identity for a person, business, item, etc., that develops naturally from personal information on the internet and the shadow data generated by the person’s online activities and is protected by a private key through the blockchain.
The Blockchain enables the DPKI (Decentralized Public Key Infrastructure), the central component of Decentralized Identity, by creating a tamper-proof and reliable means for distributing the identity holders’ asymmetric verification and encryption keys. This framework uses certificate revocation and eliminates single points of failure to address issues with Certificate Authorities (Centralized web PKI solutions). With blockchain, the process becomes visible and immutable and shields it from intrusion, effectively eliminating MITM attacks.
Blockchain IRL event organizers can use these data to improve event security. For example, since organizers can authenticate these data with the blockchain, they can use it to ensure that only authorized personnel can access event venues.
Additionally, since their information is already in the system, organizers can focus less on repeat attendees (those who have attended the event more than once) and let them pass through the security system with fewer checks and badge scanning procedures. This functionality can target a specific audience of participants for security, marketing, special recognition purposes, or other objectives.
3) Event Data Management and Analytics
Data management is collecting, analyzing, storing, and distributing data. As we all know, organizations rely extensively on information for institutional decision-making, marketing, and advertising. Blockchain is the best technology to convey such information with speed, security, and accuracy.
The blockchain is a decentralized digital public ledger that records every data transaction on its network. It can keep track of orders, payments, and other information.
Blockchain technology enables event organizers and stakeholders to access and use event data more quickly while maintaining the security of that data. Over time, organizations can use blockchain to manage existing records related to IRL events within its secure framework by digitizing them through the blockchain.
Blockchain can be used to store and manage event data like attendance, engagement, surveys, feedback forms, and satisfaction levels to generate insights about IRL events. Making better decisions would require integrating and cross-referencing these data with other on-chain data on the blockchain. This would be very helpful for event planners and other stakeholders who use the data for research, analytical purposes, or for product-based decisions.
Although several protocols and oracles fetch data from off-chain sources (those not connected to the blockchain) to blockchain smart contracts, no product has yet been made available to track event attendees and correlate that data to their on-chain activity.
The Success of IRL Event in Web3
The success of these conferences paved the way for the colossal traction we currently witness in the blockchain and Web3 event sector. So Why have these events grown in popularity? Why have they had such phenomenal growth?
The use of blockchain technologies in the management and planning of IRL events is one of the reasons. The expansion of the utilization of these events has been facilitated by new doors of opportunity that technology has created.
Another reason is that these events have broad uses, benefits, and applications in the blockchain ecosystem, such as awareness, education, meet-ups, etc. These uses are highly significant and vital to the widespread adoption and growth of the entire Web3 space, which is why blockchain platforms prioritize them. Let’s look at some of these benefits in detail.
Benefits of IRL Events to the Blockchain Ecosystem
1) Expansion
Many protocols host or participate in blockchain events to promote their services and expose their products to people. Newly launched platforms use these events to highlight their product offerings to the event participants. They do so by sponsoring or by simply participating in them. While Well-known platforms join in these events as significant/main sponsors, direct partners with the host, or even as the event host in an effort to increase their user base or expand their market exposure in the region where the event is being organized.
Finding the ideal candidate for a given role can be challenging, especially in the blockchain industry. However, it will be much easier to identify the best candidate at gatherings where like-minded individuals and crypto enthusiasts with varying levels of professionalism are present. Teams seeking to fill specific positions in their organization can participate in blockchain events nearby or even abroad if they are comfortable working remotely.
The overall benefit to the protocols and projects in this context is an expansion in different aspects of their business, ranging from user expansion to team expansion (getting the attention of qualified professionals) to partnership expansion. I think the expected response here may take some time and require constant follow-up and consistency in product quality.
An example of such an event is Solana Breakpoint 2022.
The Solana ecosystem convened in Lisbon in 2021 for the Breakpoint, the first-ever real-life celebration for the Solana Ecosystem. Solana Breakpoint is organized by the Solana Foundation and is scheduled from the 4th to the 7th of November, 2022. The event attracted builders, enthusiasts, and dreamers who came together to work, learn, and play.
Breakpoint will take place over the weekend at four venues throughout Lisbon and include workshops, speeches, networking events, and celebrations. Numerous side events will be held in conjunction with the main event. One is the Solana x Jump Hacker House, a three-day offline event that will begin on November 1st and feature mentorship from various partners and in-person guidance from core Solana Labs experts. Projects in the Solana ecosystem are allowed to include their side events which usually include workshops, happy hours, celebrations, and parties.
2) Education and Awareness
Financial literacy for digital assets and blockchain education must be encouraged to inform stakeholders and the general public about how this technology and the broader crypto market work to achieve widespread adoption. One highly effective way to accomplish this is to plan occasions like workshops, university tours, seminars, conventions, etc., and invite leading experts to speak on specific topics and areas.
These events may be planned by well-known market participants when they want to inform the public about their products or when they introduce a new feature or product. such events are also planned by platforms primarily concerned with educating people about cryptocurrency. The most significant advantage is providing the general population with detailed, easy-to-digest, high-quality crypto education can be summarised as follows.
For crypto educators, a few focus areas of concentration include the many applications of the blockchain, such as DeFi, smart contracts, NFTs, and safeguarding access to personal data. Some blockchain platforms even host developer-related seminars to educate and onboard developers into their systems.
By opening up crypto education to the general public, non-crypto users would feel more comfortable using cryptocurrencies to some extent, whether by transacting, investing, or even starting their crypto projects.
An example of such an event is ETHCC (Ethereum Community Conference). This event is the largest annual Ethereum event in Europe. It’s a three-day conference comprising workshops, networking opportunities, and other learning events that increase the participants’ knowledge and comprehension of blockchain technology. The most recent edition occurred in Paris, France, from July 19 to July 21. Kevin Owocki from Gitcoin and Ganesh Swami from Covalent were speakers at the event.
Other events are Binance blockchain week, Miami NFT week, and Token 2049
3) Meet-ups and Ease-ups
Due to the acceptance of remote work by major blockchain firms, there is a possibility that coworkers won’t meet each other physically for a very long time, even while working together. Also, projects partnered with one another and with representatives from each team in continual communication might not have the chance to meet in person for more personal interaction. Blockchain IRL events offer a forum for these groups of people to communicate, meet in person, and become better acquainted, generating stronger bonds, more understanding, and more effective working outcomes.
Through blockchain events, members of the core team and founders can get to know each other and platform users, sponsors, partners, and other project supporters. It’s always great when we finally meet someone in person after only communicating with them virtually in the past.
Even though meet-ups are still helping participants get along, extracurricular events like games, parties, exhibitions, etc., offer the chance to strengthen relationships and ease our burdens. Blockchain events are typically scheduled with additional activities, side attractions, and events that assist us in decompressing from the stress of our jobs. Activities like these are known as cool-off and ease-off activities.
An example of such events is Consensus.
Consensus is one of the world’s largest and longest-running cryptocurrency events organized by CoinDesk. This year’s event occurred in Austin, Texas, from June 9 to June 12. This conference covers almost every aspect of the blockchain, cryptocurrencies, Web3, and the metaverse. Among the highlights of the experience are the Money Reimagined Summit, Creator Summit, NFT Gallery, and DAO House. As an additional benefit, the program included Yin Yoga, Meditation 3.0, and a Run Club.
Other events include Blockchain Expo 2022 Europe, Blockchain Expo 2022 North America, Blockchain Economy Dubai Summit, and Crypto Expo Dubai 2022.
4) Hackathons
In a blockchain hackathon, groups of people collaborate on a software project for a few days or weeks to compete for an ultimate price, starting from scratch and building a complete project at the end. Teams are required to present their work at the hackathon’s conclusion. Since developers rely so heavily on collaboration, this one step alone always produces extraordinary outcomes.
A hackathon is the perfect setting to quickly develop an idea into a working product and explore the market before investing any money. Another beneficial aspect of these events is networking. Hackathons are a quick and easy way to meet the appropriate people and make meaningful relationships because the talent pool in crypto is relatively tiny compared to the broader tech industry.
One of the most significant hackathon events in the Solana ecosystem is the Solana Foundation x Jump Hacker Houses. It is a three-to-five-day offline event that is free to attend and is hosted at least twice a month. The core Solana Labs engineers are on hand to provide in-person assistance, and other partners of the event also provide additional mentorship. Some of the event’s exciting highlights include informative programs on DeFi, NFTs, how to get started on Solana, the chance to learn about special employment openings in the Solana ecosystem, and exclusive open evening activities for all attendees.
Another occasion that hosts some of the biggest and most renowned blockchain hackathons is ETHGlobal. By assisting developers in creating Web3 apps for the coming Internet era, both offline and online, they are committed to expanding the Ethereum ecosystem. The next ETHGlobal will occur in San Fransisco from the 4th-6th of November 2022.
Other Blockchain Hackathon events are ETHDenver, NEARCON IRL Hackathon, RZRblock Hackathon, Morpheus Labs Web 3 Sandbox Hackathon, etc.
5) Project Launch
Projects launched without proper awareness from large audiences frequently fail to gain the necessary traction and recognition among blockchain users and stakeholders. Social media announcements are frequently absorbed by the flood of news and developments in the space.
IRL events offer a nice and appropriate forum for event planners to make announcements regarding the launch of a project, the introduction of a new feature to an existing product, or partnerships with other projects that will be present. Considering that only people with similar interests will attend, projects that participate in these events have used them as a platform for product launches.
Large Blockchain IRL events frequently draw thousands of supporters, participants, and possible partners that New Projects can leverage to launch their projects. This way, these projects can get the audience of the event participants and media coverage platforms that will be in attendance, bringing about the huge publicity needed.
Closing Thoughts
Blockchain technology is still in its infancy and rapidly evolving, with protocols with novel applications emerging daily. We are yet to see the best Blockchain use cases for real-world events. As someone correctly stated, we are only getting started.
I believe the blockchain’s qualities and attributes would allow it to be used in practically all aspects of life. It is simply a matter of time and will not be long. Are you proud to be the blockchain’s pioneer generation? Are you standing on the sidelines, or are you actively involved? Please let me know in the comments.
References
- TechTarget: IRL (In Real Life)
- BreadCrumbs: IRL Events are more important than you realize, and here’s why
- Geeks for Geeks: Features of Blockchain
- Next Advisor: Bitcoin Price History — 2009 to 2022
- Bitcoin Magazine: London 2012 Bitcoin Conference
- Bitcoin Forum: European Bitcoin Conference 2011
- PYMTS: Evedo Offers Blockchain Solutions for Event Planning
- Influencer Market Hub: Everything You Need to Know About Blockchain Marketing
- Hackernoon: Decentralized Public Key Infrastructure (DPKI): What is it, and why does it matter?
- aiim: The Applications of Blockchain in Data Management
- Solana: Breakpoint 2022
- Solana: Solana x jump hacker house events
- ETHCC
- Consensus
- Solana: Columbia hacker house
- ETHGlobal
