Lyte, a technology platform for fans to buy, sell and exchange tickets to live events, has launched the Lyte Returnable Ticket, an end-to-end ticketing platform.
The company’s new offering marks its entry into the primary ticketing market.
The new offering integrates ‘returnability’ and fair market pricing into a simplified ticket buying experience, according to Lyte. The ticketing platform is powered by SmartPricing and SmartFulfillment, an e-commerce engine with the aim of beating ticket scalpers.
SmartPricing is a feature that enables dynamic pricing at fair market rates, while SmartFulfillment allows event creators to decide which fans are fulfilled first. This offering can be used to prioritise group orders, repeat buyers, local fans and more. The platform will also include a Subscribe and Request buying interface, enabling fans to request tickets in advance.
“Event creators equipped with data intelligence and pricing solutions don’t just increase their revenue potential – they also pave the way for more fans to have richer, more transparent ticketing experiences,” said Ant Taylor, Lyte chief executive and founder. “With the Lyte Returnable Ticket, we’re putting fans first by providing a world-class experience, and generating more demand for creators.”
In September last year, Lyte confirmed the acquisition of Festicket and subsidiary Event Genius assets after Festicket fell into administration.
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