What Is Blockparty?
Blockparty is a blockchain-based decentralized event ticketing protocol that seeks to solve the challenges that the event ticketing industry faces, which make it unable to deliver optimal experiences, fair prices, or a seamless ticketing process. Some of the challenges that the event ticketing industry faces include gate fraud, bulk buying by bots, and physical ticket accounting.
Blockparty aims at becoming a protocol that will serve both new and existing industry participants while improving profitability and enhancing customer satisfaction.
The Blockparty Protocol
Blockparty’s protocol will serve two key marketplaces: the primary market and customers. In the customer marketplace, Blockparty will target individual customers and influential people. Customers will have the opportunity to cooperate with the protocol using facial recognition or fingerprint encryption in order to prevent fraud. The primary market will create, build, and manage events, pricing, and ticket sales rewards, as it will compose of event operators and primary market ticketing companies.
Blockparty will have a Two Factor Ticketing, which links a user’s ticket to their digital identity. It will then track the ticket from the point of issue through to the secondary market and up to the gate. Once at the gate a user can unlock their ticket using Blockparty’s app. A user can opt to transfer their tickets to other users directly using a smart contract that contains the new user’s biometric information.
Blockparty Blockchain Event Ticketing Solution & Rewards
Promoters and influential individual can earn rewards and benefits by promoting their favorite events. The rewards include ticket discounts, free merchandise, artist meet-and-greet and many more. Blockparty will also provide event organizers with control over their ticket tiers, reward programs, and ticket sales.
The organizers can set up the event on the dashboard and add tier and ticket variability like VIP entry. In order to improve ticket sales organizers can introduce a reward program for promoters, influencers, and attendees. The organizers can track, the ticket sales and the secondary transfer of the tickets and earn a share of the secondary ticket transfer revenue.
Blockparaty BLOX Token
The Blockparty will function using the Blox token. Users of the platform will receive the tokens for participating on the protocol. Participation can be through attending of events organized on the protocol, purchasing tickets using fiat currency, referring new users to the protocol or transferring tickets to other users. Blox tokens will be an exchange mechanism between anonymous participants.
The protocol will use facial recognition and fingerprint encryption to control customer information and authorization. This will result in the reduction of fraud, anonymity, security, and non-modifiability of a user’s information.
Blockparty’s protocol will allow users to enter into venues using their mobile devices that contain their digital fingerprint and their ticket. The system will enable gate staff to scan the ticket using phone-based applications to verify that ownership of the ticket. This process will take seconds and eliminate the time consuming and complicated manual identity verification processes.
Tickets issued on the protocol are smart contracts, which are recorded in the blockchain. The event creator will therefore be able to view the ticket buyer as well as whom they transfer it to and the final user of the ticket.