Problem: 50% of the total ticket market is dominated by the largest companies, these companies use paper or do a PDF over email. This lends itself to rampant fraud, counterfeiting, and a huge middleman population, who built a secondary market unauthorized off of deficient technology, this isn’t just a problem for concertgoers, it is a lose-lose for the fan and the artist because the scalpers aren’t sharing in the profits from the tickets with the artist or event initiator.
Solution: We are using blockchain for live events, where you buy an NFT, and you have proof of ownership and authenticity. Our tickets have a history or a ledger, where you could see who’s minted it, where and who paid for it, with full transparency around it. That opens up the opportunity for the fans not to get ripped off and not to have middlemen jacking them up. In the future artist will have revenue from the secondary market