Blockparty, a company that specializes in ticket sales for blockchain-based live events, announced the launch of its new global ticketing system. The company aims to use its system to solve the most frequent problems that affect the ticket sales industry for events.
The reservation of events is plagued by serious problems that affect the confidence of users. The bots and fraudulent sites used obtain financial information from unsuspecting customers.
Composed of veterans of the entertainment and blockchain industries, Blockparty aims to eradicate these problems, allowing users to verify ownership, while ensuring a simplified system that ensures the trust and growth of customers and artists.
According to the company's CEO, Shiv Madan, the amount of trust that people have towards booking systems is decreasing. The former NME operations director has had a lot of experience with the music industry to understand his challenges.
The event attendees are frankly frustrated with the current landscape of the ticket purchase experience. We've all been there, after spending months saving tickets for a concert or sports match, you furiously write a captcha on a ticket sale site, desperate to get good seats, only to discover that all the tickets are sold out and, in question of minutes, magically, reappear available in a secondary sale site for 5 times the original price.
With Blockparty, we are reshaping the event ticketing industry to improve the shopping experience, eliminate the exploitation of resellers and return power to people.
Through intelligent contracts, unfair practices such as scalping, excessive prices and excessively complicated reserves are eradicated. It is a net benefit for artists, organizers, promoters and influential people who can earn income by sharing events and tickets.
For those who buy tickets through Blockparty, they can be assured of a firm approach to verification and security. With advanced face recognition, encryption and fingerprint verification, only the true owner of the tickets will have access.
Blockparty's first ticketing platform facilitates the management of the user's identity to certify the authenticity of the tickets and allows consumers a safer way to buy them.
It will also allow ticketing companies, venues and live event organizers to resolve inefficiencies, such as door fraud, physical ticket accounting and bulk purchase by bots. All while establishing imputable rules through the blockchain along with face recognition and encrypted and anonymous fingerprint technology, said former Ticketmaster Executive Vice President and Blockparty consultant, Greg Consiglio.
One of the problems faced by the supply side in ticketing is to understand the level of supply and demand. With some companies it is difficult to manage for users looking to buy a fast ticket without problems.
Blockparty is able to maintain an infinite level of ticket transfers in your system. Leaving more time for companies to offer incentives for customers to buy and resell tickets if they wish. Allow both the initial seller and the secondary seller to earn a part of the sales.
Blockparty's founding team is comprised of blockchain experts and veterans of the entertainment industry, including CEO Shiv Madan (former director of operations for a music brand division of Time Inc. NME.com), Andy Goldstein (former director of operations of the payment company with cryptocurrencies Metal Pay).