Topic: Token Stub ICO (Read 416 times)

Token Stub - tokenstub.ico - Whitepaper is located on the Site

The Trouble with the Online Event Ticket Industry:
Stopping the Bots that Ruin the Event Experience
The $33 billion event ticket industry is undoubtedly a thriving one, and is projected to grow at an annualized rate of 5-7% over the next 5 years. But with great profitability inevitably comes the threat of those trying to take advantage of the system. That is why this sector is now plagued with a host of problems stemming from the proliferation of resellers who utilize sophisticated “bots” to purchase the majority of tickets when they are released. This means consumers accessing the primary markets are left with subpar seat selection options and even these can be costly due to fees associated with the sales.
Further complicating matters, concert, sports and theater fans who turn to secondary markets to source their tickets will also pay high fees while using a system rife with fraud due to a lack of transparency in the purchasing process. Even ticket retailers are not immune to the industry’s downfalls as they do not have access to the profits obtained on the secondary market. Despite ongoing legislative efforts to stop these scams, the problem only grows worse. So perhaps it is time not just to make modifications to save the ticketing industry but instead, to disrupt it entirely.
1. Why the system is flawed.
The primary ticket market accounts for $25B and is dominated by the likes of Live Nation and Ticketmaster while the secondary market brings in about $8B for platforms like eBay and StubHub. Both come with their own unique set of challenges.
Within the primary sector, major players like Ticketmaster have retained such a large market share for so long they’ve never felt the pressure to innovate, utilizing inefficient technologies that can be overloaded with demand to the point of crashing, frustrating both ticket sellers and buyers. Furthermore, its partner venues will often price seats below market value which only incentivizes resellers to use bots to buy up tickets, essentially barring the average consumer from even entering the marketplace.
The secondary market is then filled with resellers who can charge exorbitant prices because they have monopolized most available seats. It is also crippled by a lack of transparency enabling widespread scams to proliferate. Because consumers have no idea who they are dealing with, the likelihood of buying fraudulent tickets increases, with 6% of sports ticket sales and 12% of concert seats now turning out to be forgeries.   
2. Who the system hurts most.
It is not just consumers who suffer from the breakdowns of the ticket industry, some of whom are actually tricked by scammers selling the same ticket to multiple people only to find out at the gate their particular pass has already been scanned. The artists themselves are violated by current ticketing practices, because bulk bot purchasing eliminates their ability to have any control over what their fans are paying to see them. Some performers have openly expressed their disdain for these practices even going as far as to take back tickets from scalpers, because they block audiences without high disposable incomes from being able to enjoy the experience of participating in the live concert experience.
3. How the system can be stopped.
Simply put, the status quo is unsatisfactory to consumers, retailers and artists alike. Which creates the perfect opportunity for the latest technological advancements in cryptocurrencies to disrupt the industry in a way that benefits everyone involved.
Blockchain-based buying and selling is an entirely new way of completing business transactions that decentralizes the infrastructure, providing natural solutions to the many challenges facing the ticketing industry by ensuring a fair, more efficient and secure marketplace.
TokenStub is one of the newest players in this arena. Its platform utilizes a groundbreaking profiling and queueing system that ensures consumer access to the primary markets, free from bot interference while barring scalpers from scooping up every front row seat.
Not only does the use of its base cryptocurrency, the STUB token, even the playing field for fans looking to purchase affordable tickets in a marketplace free of fraudulent sellers, the organization also runs with very little overhead, enabling them to avoid charging ridiculous fees. The system also benefits retailers with its unprecedented levels of transparency, guaranteeing they have visibility and access to the profits of downstream transactions.
For an industry plagued with corruption, blockchain technology presents the ultimate solution with a free-market ticket exchange that benefits both event organizers and consumers alike by providing increased access to a safe and secure platform. This eliminates the fear of scams and scalpers by focusing on what fans want most: a safe and affordable way to buy tickets for the teams and performers they love.