Blockchain-based ticketing firm Blockparty has launched its new global system as it looks to tackle bots and fraudulent ticket sites.
The firm is made up of veterans of the entertainment and blockchain industries looking to help rid the sector of these issues, while also allowing users to verify ownership and ensuring a streamlined system for both fan and artist.
According to CoinJournal, Blockparty chief executive Shiv Madan said: “Event goers are rightfully frustrated with the current landscape of the ticket purchasing experience. We’ve all been there – after spending months saving up for tickets to a concert or sports match, you furiously type in a captcha on a ticketing site, desperate to get great seats — only to find that all tickets are sold out and have magically re-appeared, within minutes, on a reseller site for five times the original price.
“With Blockparty, we’re reshaping the event ticketing industry to improve the purchasing experience, eliminate reseller exploitation, and give the power back to the people.”
Blockparty’s verification and security process includes facial recognition, encryption and fingerprint verification to ensure the customer is the only person able to access the ticket.
According to CoinJournal, Blockparty can support an “infinite level of ticket transfers” over its system. This leads to companies having more time to offer incentives for customers to buy and re-sell tickets if they want.
It also allows the original seller, such as the artist, and the secondary seller to earn a share of the sales.
“Blockparty’s first-of-its-kind ticketing platform makes it easy to manage user identity to certify the authenticity of tickets and empower consumers with a more secure way of purchasing tickets,” said former executive vice-president of Ticketmaster and Blockparty advisor, Greg Consiglio.
“It will also enable ticketing companies, venues, and live event organisers to solve inefficiencies. Such as gate fraud, physical ticket accounting and bulk-buying by bots. All while establishing imputable rules through the blockchain along with encrypted and anonymised facial recognition and fingerprint technology.”
Image: Davidstankiewicz
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