Cryptocurrencies are often called programmable money. This refers to the fact that it is possible, for example, to create smart contracts that encode and enforce rules around payments.
The Unlock Protocol includes a referral mechanism at its core and membership contracts can be customized to automatically pay referral fees when new memberships or tickets are purchased and minting.
Here’s a visualization of how referrals work across the Unlock network in the general case.
This same flow illustrated in the video above is now available for event organizers and their networks as well.
Referral rewards are an important tool for event organizers
To date, referrals have been an underused tool in the event organizer’s toolkit.
For event organizers, the main job is to sell tickets and referrals can be incredibly useful to achieve that goal.
Often, a conference will have partners who can promote the conference in their own community. Using referrals, these partners can receive a share of the ticket sales, creating an even bigger incentive for them to promote and sell tickets.
Event referral fees in action
Here is an example. In the Event’s settings, a referral for ccarfi.eth has been set up where this address would receive 20% of any ticket sold thru this specific link.
You can create multiple referral codes for a single event. Different partners / promoters can receive differing percentages of sales.
As an event organizer, once you have set up the referral code(s), you can share the custom referral share links with your various partners. Any ticket sales that are made from those links will reward that partner with the appropriate percentage of the ticket sale.
If you want to inspect this on an actual transaction, here is an example.
Referral links can be a powerful tool for boosting event attendance and engaging communities. By providing a financial incentive, they encourage partners to promote your event within their networks.
