Industry News

Global blockchain ticket pool tipped to propel sales

Aventus founder Alan Vey believes a blockchain-led global ticket pool would simplify the market and catapult ticket sales worldwide.

Aventus Protocol is an open-source code that allows anyone to build powerful decentralised applications for the ticketing industry.

Aventus said its mission is to ensure the transformation of the live entertainment industry with a “fair and secure means of ticketing events by diminishing the trickery and scalping that is bothering the current sector.”

It has long criticised the existing ticketing sector for being “complex and fragmented”, and believes poor interactions between primary and secondary agents, control systems and promoters leads to inefficiency and confusion for the end customer.

Speaking to Pollstar, Vey said a blockchain-backed ticket pool could change that.

“Whether you’re the smallest or the biggest promoter, anybody can add to this pool of inventory, and they can set up business rules that determine how people can interact with it,” he said.

“These business rules can be anything from, ‘this ticket can only resell for 10 per cent above face value,’ or ‘I want a 50 per cent commission on any secondary market,’ or maybe ‘I don’t want any secondary market at all,’ or maybe ‘I want certain data associated with this ticket, before it unlocks for a user’.”

The Aventus Protocol was deployed onto the Etherum MainNet in June and can now be used by any business to create and ticket events.

In May, Aventus partnered with new Las Vegas attraction Kind Heaven to supply tickets through its open-source Protocol solution. BlocSide Sports was the first firm to trial the protocol earlier in the month.

Image: Aventus