TokenStub is to launch the pre-sale of its blockchain-based ticketing platform tomorrow (Friday) ahead of next week’s initial coin offering (ICO).
TokenStub wants to provide a “fair, secure and decentralised” event ticketing infrastructure, and “overcome[e] the pervasive challenges of traditional systems worldwide while creating a more efficient marketplace for both buyers and sellers”.
The company says that by creating the STUB token, the currency on the TokenStub network, the operator and their platform will have far greater control over fraudulent activity. It added that its technology will ensure that fees are kept to a minimum, enabling buyers to save while also giving sellers access to downstream revenues with “newfound levels of transparency”.
The team behind the technology is led by chief executive Sean McHale, the former chief technology officer of eBooks.com, and chief strategy officer Dr. Philip Fernbach, a professor at the University of Colorado.
“The status quo is unsatisfactory to consumers, retailers and artists alike. TokenStub promises a fair, more efficient and secure marketplace for buyers and sellers,” said McHale.
TokenStub’s ICO is to run between August 23 and October 3.
Meanwhile, fellow ticketing blockchain developer Aventus has announced the ICO of its AventCoin will run between September 6-12.
The company’s Alan Vey said: “Launching an ICO is a brilliant opportunity for Aventus. We were not prepared to let recent events put a hold on this.
“The CryptoCurrency market is an exciting and vibrant place to be at the moment. There are teething problems with any innovative sector, but the community is strong and will resolve issues quickly.”
London-based Aventus enables secure transfer and resale of tickets with built-in inflation caps that aims to eliminate fraud and ensure that the final user can be identified. The company said this type of technology is of particular importance in light of global terror concerns as it brings an additional security measure for attendees.
It boldly claims that its technology “effectively ends the ability for ticket touters to continue in business”.