Featured News

GUTS expands in Korea with new blockchain ticketing firm

Dutch blockchain ticketing company GUTS Tickets is expanding its presence in South Korea via a new blockchain-based ticketing venture called getTicket.

GUTS uses the GET Protocol, a “fraud- and scalping-proof ecosystem”, which allows event organisers to track ticket sales via the blockchain. Its ‘smart tickets’ cannot be duplicated or sold for a different price than the one set by the organisers.

Maarten Bloemers, founder of GUTS Tickets, said: “Over the 3.5 years since we have sold our first ticket, the team has put forth a world-class achievement. The fact that we are now getting recognition on a global scale makes me incredibly proud. However, our mission of becoming the worldwide standard for digital ticketing is nowhere near to complete. We won’t rest until we get there.”

The new company getTicket has already launched and is ready to sell its first tickets, with the firm claiming to have multiple big events already lined up, including K-Pop concerts and stadium shows for 40,000 people.

GUTS said it has connected with local partners, who extensive experience in the live entertainment industry in Korea, to help launch the new venture.

The firm said in a statement: “This first international adaptation of the system that has brought GUTS Tickets its success, is just the beginning. Now that the white label process is completed, the doors are opened for the many other interested parties to start applying the innovative technology in ways that fit their own market.

In March 2019, GUTS Ticketing’s GET Protocol linked up with Korean blockchain platform Klaytn as one of its initial service partners.

Klaytn is a service-centric blockchain platform providing an easy development environment and friendly end-user experience. The platform allows real-world applications of large scale to be produced so that end-users can make full use of services without much expertise in blockchain or cryptocurrency.

Image: Audio Obscura