Crypto.tickets is a blockchain-based ecosystem for the event ticket sales industry. Read our review to find out how it works.
What Is Crypto Tickets?
Crypto.tickets describes itself as “the next phase in the evolution of the event ticket.” The platform aims to provide a secure, transparent, blockchain ecosystem for the event ticket sales industry.
The Crypto.tickets ICO began earlier in October and lasts until November 2.
Like other blockchain companies, Crypto.tickets believes the ticket sales marketplace is ripe for evolution. Today, ticket platforms like Ticketmaster are overwhelmed by fraudulent ticket sales, spam, and high service fees. Nobody wants to pay a fee for the privilege of printing their event ticket at home – and that’s a practice that Crypto.tickets wants to solve.
Nevertheless, Crypto.tickets never mentions words like “disruption”, and it doesn’t seem to want to displace platforms like Ticketmaster. Instead, Crypto.tickets wants to establish a new standard for the event ticket sales industry that respects incumbent players and maintains continuity of industry structure.
What Problems Does Crypto Tickets Seek To Solve?
Crypto.tickets wants to solve all of the following problems in the industry:
- High tech speculation in the form of online ticket bots now accounts for a significant portion of primary market ticket purchases; artists and event producers lose, while scalpers and resellers win
- Overpriced tickets in secondary markets push targeted consumers – the “real fans” – out of the market
- Organizers lack control over how their tickets are sold, resold, or exchanged, and have no way to track the identities of people who attend events
- Duplicate or fraudulent tickets are widespread, which frustrates customers
How Does Crypto Tickets Work?
Crypto.tickets uses the blockchain to allow ticket distributors to control the ticket throughout its lifecycle. Authorized users can regulate ticket sales, re-sales, and exchanges while managing payments, fees, and commissions. Organizations can control the ticket throughout its lifecycle, from the initial release to the redemption on entry to the event.
The ecosystem revolves around TKT tokens. These tokens are utility tokens that contain smart contracts, giving organizers complete control over the lifecycle of the ticket.
There’s also the Tickets Wallet app. After the user purchases a ticket, the smart contract sends the ticket to the Tickets Wallet app. When the user attends the event, he or she shows the ticket’s QR code. The code is scanned, and the entry system makes a record on the blockchain that the ticket has been used.
You can use the Tickets Wallet app today. It’s available for free from the Google Play Store or iTunes App Store. Basically, Crypto.tickets wants to add the features of the Tickets Wallet app onto the blockchain for enhanced security.
The Crypto Tickets Token Sale
There will be a max supply of 914,869,281 TKT tokens. 68.9% of tokens are sold to the public through crowdsales. 15% are going to Tickets Cloud. 7.6% to private offers, 3.5% to advisors, 3.0% to a growth fund, and 2.0% to bounties.
The token sale is taking place throughout the month of October, and ends on November 2.
Who’s Behind Crypto Tickets?
The team behind Crypto.tickets has previously launched Tickets Cloud, an open distribution platform that has processed 1 million event tickets since launching in 2014. The company is called Tickets Cloud, LLC.
That team is hoping to launch Crypto.tickets in Q2 2018.
Key members of the team include Egor Egerev, CEO and Founder, as well as Katerina Kirillova, Strategy and Development Director and Founder, Ilya Sergeenko, Chief Investment Officer and Founder, and Dmitry Bakaev, Head of Analytics.
Tickets Cloud, LLC is based in Moscow, although Crypto.tickets appears to be registered in Luxembourg.
Crypto Tickets Conclusion
It’s no secret that the ticket industry could use some change. Crypto.tickets wants to provide that change in the form of blockchain technology. With Crypto.tickets, the event organizer or host controls tickets throughout their lifecycle. All details of the ticket are recorded on the blockchain. Hosts can set the price, set resale conditions, and control all aspects of the ticket from the initial sale to the final entry to the event.
To learn more about Crypto.tickets, visit online today at Crypto.tickets.