Slate Entertainment Group (SEG) executives claim its new blockchain-based ticketing platform Slatix will provide event tickets that cannot be forged with almost no additional fees.

Slatix is a tokenised ticket application that SEG has designed to provide users with content discovery through a curated ratings and reviews system.

A loyalty rewards system has been set up for repeat users who can earn discounts to activities such as films, concerts, plays and sporting events.

“To execute on this initiative, we have assembled a talented team of professionals with diverse skill-sets,” SEG chief executive Michael Moyal said, according to Screen Daily. “Our objective is to strategically disrupt the current entertainment ecosystem using blockchain technology and corporate integrity.

“Our business model of complete transparency is intended to enrich the entertainment experience for consumers by fairly compensating producers for the value they create. The Slate Ecosystem is committed to enhancing an industry that is essential to so many.”

SEG is reportedly working with early adopters on initiatives that could see event tickets being purchased through the Slatix application, using the Slate crypto-currency as payment, as early as the third quarter of this year.

The firm is also launching Binge, which is a decentralised VOD (or blockchain VOD or BVOD) platform that will offer premium content using blockchain’s transparent and secure distributed ledger technology.

SEG said it hopes the platform will to deliver low-cost, high-speed, high-definition video globally, as well as transparent real-time payments and view metrics – a key differentiator from other VOD platforms.

Nate Bolotin, XYZ Films co-founder and SEG board advisor, said: “We believe that eliminating corrupt intermediaries and unnecessary barriers in the entertainment industry and creating a more efficient and transparent content delivery system is the future of distribution and consumption.

“‘Blockchain’ is a buzzword right now, but when it comes to powering the distribution of premium content, Binge truly has the capability to connect talented storytellers to consumers with unparalleled transparency and access like never before.”

Image: Kaboom Pics