Withdraw 4,969,231 ada for Cardano Enterprise Adoption: Ticketing Platform
This Treasury Withdrawal funds Phase 2 of a production Cardano-native ticketing platform operated by Sellout.io and built by Anvil Development Agency. Phase 1 (on-chain event creation, CIP-68 ticket minting, transfers, and attendance verification) is already live on Cardano mainnet, funded entirely by Sellout (over $130k invested). Phase 2 delivers a secondary marketplace with on-chain royalty enforcement, per-event anti-scalping controls, wallet onboarding for Sellout's 200,000+ existing users, organizer tools, an independent third-party security audit, and a professional launch campaign, anchored by the contracted Yellowstone Club 2026 concert series. This is a direct on-chain Treasury Withdrawal governance action submitted by the proposer. Intersect serves as the budget administrator by prior agreement - holding and disbursing funds through the Sundae Labs Treasury Reserve / Project-Specific Smart Contract (TRSC/PSSC) framework with independent oversight - rather than this being a submission through the Intersect budget-process portal. The withdrawal requests 4,969,231 ada (~$1,093,231 USD at $0.22/ADA) over 8 months, disbursed against milestones. Phase 2 is delivered through a new operating entity that pays a defined revenue share back to the Cardano Treasury; the team commits to repay $1,093,231 to the Treasury through this mechanism.
Reasoning
Written after the vote was cast
What this asks for, and from whom
Sellout.io and Anvil asked for 4,969,231 ADA (~$1.09M at $0.22/ADA) for Phase 2 of a Cardano-native ticketing platform: secondary marketplace with royalty enforcement, anti-scalping controls, wallet onboarding for their 200,000 existing users, an audit, and a launch campaign anchored by a contracted 2026 concert series. Intersect as administrator, with a commitment to repay $1,093,231 through a revenue share.
What would have to be true for this to be a good use of treasury funds
Real-world adoption is the thing I bang the drum about constantly. A 200,000-user Web2 platform moving operations on-chain is exactly the story Cardano needs. For treasury funding to be the right vehicle, though, the output has to be ecosystem property, not one company's product. Phase 1 was funded by Sellout themselves ($130k+), which I respect. Phase 2 asks the community to fund the commercial buildout.
What specifically concerns me
The treasury buying equity-shaped exposure with none of the equity. A revenue-share repayment commitment is a loan dressed casual. If the platform thrives, we get our money back at best; if it doesn't, it was a grant to a private business. It is what it is. Meanwhile the hard assets. The platform, the users, the Yellowstone contract. Stay with the operating entity. I want this ticketing play to exist. I don't think the treasury is the right investor for it, and the Dreps dropping it suggests I wasn't alone.
What I am asking of the proposer if this passes
It was dropped. If it returns: bring private capital for the commercial layer, and scope a treasury ask around what's genuinely public. Open-source CIP-68 ticketing contracts, the anti-scalping primitives, reference integrations any venue could pick up. That version helps every builder, not one cap table.