When people hear the name Rare Network, the first thought is often, "Oh, those are the guys behind the Rare Evo convention and live events." It’s true—Rare Network has become well known for its successful live events, including the Rare Evo convention and Rare Socials. However, what many don't realize is that there's much more happening behind the scenes at Rare Network than just organizing and executing events.
While we frequently talk to people about Rare Evo, our media ventures, and our live event plans, we rarely dive into the long-term vision for Rare Network. We're not just focused on improving each event, clawing our way to better experiences year after year. Instead, we’re also building a robust ecosystem for the future.
Let’s start with our tech stack, a topic anyone who’s been frustrated by high event fees can relate to.
Do you hate Ticketmaster’s fees? Most of us do. Ticketmaster, with its $18 billion monopoly on live event ticketing, often burdens consumers with outrageous fees. Ever bought a $15 ticket to a sports event, only to get slapped with an additional $12 in fees? Or perhaps your favorite concert cost $50, but suddenly, it's $62 due to processing charges.
The situation isn't much better for conventions. The high costs for convention tickets can often be traced back to Cvent, a $4 billion company that monopolizes the backend of live events—everything from booth mapping to agenda management, hotel block arrangements, and affiliate programs. This Software-as-a-Service (SaaS) model takes a large slice of ticket revenue for its services.
Recognizing these pain points, we decided to build our own backend systems at Rare Network. Over the past two years, we’ve developed both a Web2 and Web3 tech stack that runs without the excessive fees that plague the industry. We’ve already tested it in live scenarios, where flawless performance is critical.
At the 2024 Rare Evo event, over 2,200 attendees checked in using a mix of Web2 and NFT tickets. Whether they were exhibitors, speakers, sponsors, or general attendees, the process was seamless, and the attendees didn’t miss Ticketmaster at all.
But this is just the beginning. By 2025, we aim to take our ticketing system multi-chain, allowing attendees to buy tickets using various blockchains. We’re also committed to ensuring that even those unfamiliar with blockchain technology can easily purchase tickets using traditional methods, like credit cards.
This multi-chain approach will yield valuable insights into user preferences, showing us which chains people prefer for purchasing and minting tickets. Over time, this data will offer a more accurate reflection of consumer behavior than metrics like wallet counts or transaction volumes, which can sometimes be manipulated by bots. Live event check-ins, however, are human-driven and harder to spoof.
Once you’ve checked in at Rare Evo, the real experience begins. Our website—and soon, our mobile decentralized app (dApp)—offers easy access to essential event information like the agenda, speaker lists, and event tracks. Our interactive event and booth map allows attendees to explore sponsors or exhibitors through a zoom feature, all without the high costs of using Cvent’s software. Attendees barely notice the difference, but we’re providing a much more cost-effective solution.
Of course, we still have plenty of improvements to make. We're constantly iterating and refining the agenda and booth mapping experience. We recently rolled out a decentralized affiliate program and are working on affiliate bounties. Additionally, we’re exploring new ways to facilitate communication between attendees and exhibitors to foster greater interaction at our events.
If you’ve stuck with us this far, here's a bit of alpha for you. You’ve probably noticed those Web2 reward points on our website. If our lawyers wrap things up smoothly, there’s a chance that these points could convert into a token in the future. Stay tuned for updates!
As we continue to build Rare Network, we’re excited to share more through Rare Network Media and Rare Network State. So, when you think about Rare Network in the future, remember—we’re far more than just live events.
Written by Rand McHenry