When was the last time you had a great ticketing experience?
From unfair pricing, scalpers and fake tickets to complicated procedures at the gate, ticketing is broken. That's about to change:
Why does the ticketing industry — $57.4 billion in the U.S. alone — need blockchain?
Anyone who attends enough live events or tries to run their own events will notice that ticketing is wrought with challenges such as bots, scalpers, fake tickets and unfair pricing. Blockchain offers the characteristics of immutability, transparency, and consensus, which can ease the pain of event goers, venues, event organizers and ticketing companies alike.
Blockchain solves the major challenges facing event ticketing: - Keep track of tickets from creation to redemption — Ticket transactions are recorded by a distributed network, which is a transparent auditable solution.
- Prevent or limit ticket price hikes in secondary market — Each ticket can be created as a unique smart contract with rules dictating transfer price and revenue sharing for transfer fees.
- Eliminate fraud — As smart contracts on the blockchain, tickets are immutable and can’t be duplicated.
- Create demand — Creating a new cryptocurrency creates opportunities to earn native tokens as rewards for early ticket purchase, referrals, and loyalty actions.
How Blockparty Delivers
Eradicate Bots & Eliminate Fraud. Blockparty eradicates bots by connecting each individual ticket sale to a secure digital fingerprint. Each ticket is associated with an encrypted and anonymized touch ID or facial recognition scan, and each digital transfer is recorded on the blockchain. Enhance security and ticket accounting. Blockparty provides security for venues, event managers and attendees by validating each attendee’s identity with two-factor authentication. Attendees unlock tickets on their mobile phones utilizing a scan a fingerprint or face at the gate, and results must match the encrypted scan linked to the ticket’s QR code.Earn secondary revenue. With Blockparty, ticket purchasers can legitimately and anonymously earn revenue from ticket transfers. Blockparty simplifies ticket transfer mechanisms with smart contract rules that are also applicable to artists, athletes, sports team owners, venue and event operators, season ticket holders and anyone seeking to transfer their tickets. Transfer terms are coded into the smart contract when the ticket is created.Create real demand. Artists and venues can use rewards and incentives, such as event-specific airdrops and at-event rewards, to sell more tickets. Customers, artists and promoters can earn BLOX tokens for actions such as inviting and referring guests, and can redeem those rewards for ticket discounts, free drinks, VIP access, artist meet-and-greets and more.Introducing Integrated Smart Contracts
The Blockparty team has developed a revolutionary new technology — integrating ERC-20 and ERC-721 to create scalable non-fungible tickets. Since each ticket contains unique identification data as well as capabilities and restrictions (over 21, VIP, free drink, etc.), the tickets are built with non-fungible ERC-721 smart contracts. The native token of Blockparty, BLOX, uses the ERC-20 standard and functions as a reward mechanism. The Blockparty protocol ties them together to provide the first truly groundbreaking blockchain-based ticketing solution.About the Team
Shiv Madan, CEOMadan previously served as COO at Time Inc.’s music brand NME.com, Asia. Madan is no stranger to the live concert world, having owned and operated a 20k+ person music festival and run multiple college tours. He cut his teeth at eBay, Accenture and Lehman Brothers in banking, derivatives trading, strategy and business development.Andy Goldstein, COOGoldstein comes to Blockparty by way of Metal Payments, a cryptocurrency payment app where he served as COO. His career also includes a term as a sales executive at BitPay and 16 years at Visa (managing merchants) along with a stint at First Data.Rikesh Thapa, CTORikesh is an experienced blockchain engineer with a background in artificial intelligence, cryptography, cybersecurity and product development. His specialty is in building and managing robust, scalable applications from the ground up in startup environments. Thapa’s most recent accomplishment in blockchain was building, scaling and selling a decentralized energy blockchain system to a billion dollar company.Aaron Chawla, Board AdvisorChawla brings a rich history of connections and experience in the entertainment industry that gives Blockparty vital insight into the scope of the problem. Chawla has produced or directed operations at the Super Bowl halftime show, Coachella, Life Is Beautiful, Lollapalooza, Bonnaroo, Kanye West, Daft Punk, Kaskade, Kevin Hart, Aziz Ansari, Michael Jackson, Prince and more.Greg Consiglio, Board AdvisorConsiglio has 25 years of experience in the entertainment and electronic music industries. After serving as executive vice president of business development at Ticketmaster, COO at SFX Entertainment and CEO at Beatport, he has developed influence in the industry and has an eye for the challenges upstarts face. He also served as a senior vice president at AOL earlier in his career.Project Timeline While the Blockparty protocol and mobile app have been tested in a “Private Alpha” launch mode in March 2018 in a rigorous environment at a major music festival, the Blockparty team has operated in stealth mode since its seed raise in December. Blockparty formally unveiled the company during Blockchain Week 2018 in New York, including a company presentation and live concert that was ticketed using a private version of the Blockparty protocol. The concert featured musicians A-Trak, Playboi Carti, Topaz Jones, and James Murphy of LCD Soundsystem. Furthermore, Blockparty has announced that the mobile app and BLOX token will be utilized at Elements Lakewood Festival in Pennsylvania on Memorial Day Weekend 2018, a 3-day music festival featuring headliners Claude VonStroke and Jamie Jones. The app and web platform are designed for universal accessibility via iOS and Android platforms. Blockparty intends to roll out its product at music festivals throughout the summer 2018 festival season.Get involvedBlockparty is the future of event ticketing. To get involved, simply register here to earn the chance to win tickets to music festivals throughout the summer of 2018.