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Blockchain In Ticketing And Events: 9 Startups To Watch In 2019

  • 11 February 2019
  • Sam Mire

There’s big money in tickets. Major businesses like Live Nation and StubHub have sprung up to make big bucks by simply selling tickets to live events. There’s not about to be a sports fan shortage, and music-loving festival-goers will always be seeking out hot events. The ticketing business seems bound to remain a mainstay in the developed world for quite some time.

This doesn’t mean the industry is completely free of wrinkles and issues. Ticket scalpers still maintain their own business, which generally drives up ticket prices. People still try to scam others for money by selling fake tickets. Market fragmentation and uncertain ticket provenance remain problems in search of a solution.

A number of people have fortunately connected the dots between the ticketing industry’s woes and the promise of blockchain technology. These companies develop solutions that tie a person to their tickets through their mobile device or other authentication. They make tickets more easily transferable, encoded with specific resale terms, and make them impossible to fake.

Such ”smart tickets” are already being used in the real world today, and they represent the promise that lies ahead for blockchain’s positive impact on the ticketing industry.


GUTS TicketsGUTS Tickets

GUTS Tickets is a ticketing system specializing in the issuance of smart tickets. The blockchain creates a level of transparency in the ticketing ecosystem that is rarely seen on sites such as StubHub, SeatGeek, and other non-decentralized platforms. The primary target of this transparency: secondary-market scalpers and fraudsters who charge far more than market price for event tickets. Whether fans are attending a soccer match, concert, festival, or other live event, GUTS tickets wants to cut down on the number of intermediaries to the greatest possible extent, decreasing costs in the process. Smart tickets, the lifeblood of GUTS, offer several unique benefits. They contain self-updating QR codes, are linked to specific mobile devices, contain a locked-in price and can be imbued with additional benefits – backstage status, etc. – within its metadata.  

Date Founded: January 1, 2017

Funding Type: ICO


AventusAventus Systems

Aventus is a blockchain-backed platform that is making it its mission to reduce instances of ticket touting and fraud. It handles the event promotion process from end-to-end. Organizers can use the Aventus platform to create, manage, and promote the events at a relatively affordable price, setting ticket prices and second-market commission fees in the process. Tickets purchased through the Aventus marketplace are imbued with ownership data, ensuring that all secondary sales are authorized and subject to pertinent fees, as well as reducing instances of ticket fraud. The Aventus Token (AVT) is the currency that powers transactions on the platform, and has several applications from voting to facilitating the matching of buyers and sellers. It is, simply, an open-source ticketing platform taking advantage of the blockchain’s security and transparency benefits.

Date Founded: April 2016

Funding Type: ICO


UPGRADEDUPGRADED

UPGRADED is a ticketing platform that uses cryptographic algorithms to issue smarter, more secure tickets. Now affiliated with well-known ticketing platform TicketMaster, UPGRADED is looking to bring blockchain-enabled ticketing into the mainstream. The service converts traditional paper or e-tickets into secure digital assets protected by public or private keys on the Ethereum blockchain. This means that only the true owner of the smart ticket can access it, decreasing drastically the possibility for theft and fraud. The tickets themselves work as smart contracts so that they aren’t released to the buyer until payment is fulfilled. This also means that the tickets can be regulated in secondary markets, with restrictions on whether or how they can be resold after the initial purchase.

Date Founded: March 1, 2016

Funding Type: Private


BlockpartyBlockparty

Blockparty is one of the group of blockchain-savvy startups using the technology to make ticketing for live events easier and more secure. The Blockparty platform wants to solve the primary issues facing the ticketing industry: bots, illegal scalpers, astronomical, unfair prices, and fraudulent tickets. They do this through the Blockparty protocol, which assigns transferable digital identities to each ticket, linking them to their owners so that the possibility for scalping and illegal secondary sales is minimized. Tickets are tied to facial recognition or fingerprint scanning technology, making it virtually impossible for anyone else to get their hands on your ticket – just don’t lose your mobile device before getting into the concert or match.

Date Founded: 2017

Funding Type: Private


True TicketsTrue Tickets

True Tickets is an end-to-end digital ticketing platform that wants to extend the fan experience beyond mere attendance at a concert or sporting event. The True Ticket platform traces a ticket from its creation until the time it’s used at an event – and does plenty to enhance the user experience in between. For performers, the TT platform allows them to keep taps on which fans are following the hardest (looking at you, Dead Heads). The ability to know who is attending your concerts means that artists can reach out to the die-hards to show their appreciation, should they be so inclined. For fans, they have a clearer snapshot of the marketplace to ensure that they are buying legitimate tickets at a fair price. And for venues, True Tickets provides insight into who is purchasing tickets, providing invaluable marketing intel to better sell future events.  

Date Founded: 2017

Funding Type: Private


BlocktixBlocktix

Blocktix is a blockchain-enabled platform seeking to replace the fragmented event ticketing market with a single, secure solution for ticketing needs. Event organizers can tap into the platform to reach a ticket-buying audience in a way that doesn’t require much investment in overhead or fees given to established ticket-peddling intermediaries like StubHub. Features of Blocktix include on-chain ticket distribution in a way that establishes clear ticket ownership to reduce fraud and allows for peer-to-peer ticket exchanges where permitted. The Blocktix team claims that their platform can help reduce distribution, transfer, and promotional costs for event organizers by as much as 90%.  

ICO: July 7, 2017

Funding Type: ICO


Based GlobalBased Global

Based Global is a Berlin-based, blockchain-powered ticketing platform seeking to reinvent the ticket discovery and issuance processes. The Based Global Protocol is ‘highly scalable’ and was designed to address some of the most prevalent problems facing ticketing – fraud, illegal scalping, etc. Smart tickets lock in ownership data that is immutable, unless the owner is permitted to re-sell the ticket (those conditions can also be imprinted into the ticket). The digitization of live event tickets on the Based Global platform opens live events to deep analytics. With smart ticketing, artists and promoters get a firsthand view into who is attending events, and what sort of demographics should be marketed to in the future. Based Global offers relatively low fees, greater transparency, and more features that foster deeper interaction between artists and fans.

Date Founded: 2006

Funding Type: Private


EventChainEventChain

Created by father/son duo Jay and Ashton Addison, EventChain is a blockchain powered “smart ticket” service that is seeking to eliminate many of the problems with tickets and events that all event goers have experienced at one time or another. Their approach is to build better ticketing systems for event organizers, producers, and artists, who work so hard to create memorable experiences for attendees.

Date Founded: May 5, 2017

Funding Type: Private


EventXEventX

Dutch startup EventX is bringing blockchain-enabled payment to the live event scene. The EventX platform tackles a number of problems, from ticketing, to access control and payments. The app allows users to purchase and store tickets, arrange and reserve parking, purchase locker storage, order food and drinks, locate restrooms, reserve merchandise, and more. There are even plans for a wearable that can consolidate reservations into a single bracelet using AI and blockchain technology, which assists in providing an immutable record of transactions.

Date Founded: August 2017

Funding Type: Private

About Sam Mire

Sam is a Market Research Analyst at Front Lines Media. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.

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