Over the last decade, the introduction of digital ticketing has become a significant trend. Attendees can now buy tickets on their smartphones, save a copy of their ticket to their device pocket, and use it to gain access to the venue directly. Ticket sellers then communicate with their customers on a more intimate level and start cultivating long-term relationships. It has become a more convenient and beneficial method of ticketing. However, blockchain solutions can impact ticketing solutions and help the industry evolve in a more effective way.
While digital ticketing (to some extent) eliminates paper inefficiencies such as fraud and convenience, there are still some digital stumbling blocks to overcome.
- Unscrupulous resellers take screenshots or photocopies of tickets and resell them to unsuspecting victims several times.
- Organizers lack power and access to secondary markets, which allows for inflated ticket resale.
- Due to unregulated secondary markets, bad actors still gain access to events. Additionally, personal data is always at risk on centralized ticketing systems, which are vulnerable to attacks.
- These challenges create opportunities for blockchain to make an innovative impact on ticketing solutions for those who value protection and accountability.
A blockchain-based event ticketing system is a revolutionary approach to managing and distributing tickets for events. It leverages the power of blockchain technology to create a secure, transparent, and efficient ticketing process. This system uses Non-Fungible Tokens (NFTs) to represent each ticket. NFTs are unique digital assets stored on the blockchain². Each ticket is unique, can't be reproduced, and has its own identity. This ensures that once a ticket is sold, its record is immutable, meaning it cannot be duplicated or altered.
The system addresses several significant challenges in the ticketing industry:
- Fake tickets: Blockchain ticketing can prevent fake tickets as each ticket going through the blockchain receives its own identity.
- Scalpers and bots: It can help block bots and define rules around which tickets can be resold.
- Security: It allows organizers to identify their patrons precisely, even if a ticket has been exchanged just before entering.
- Data: It provides a more transparent and customer-friendly experience.
"networkPassphrase": "Test SDF Network ; September 2015",
"contractAddress": "CAQMNDRVLKZNRT432FQF4HIM6XOFSV2BIV4LGPQBYTNAYCTMASHZO5K2"