Blockparty Introduces Blockchain-based Event Ticketing to Transform Global Live Event Industry
Blockparty platform can eradicate bots and eliminate ticket fraud with the mission of offering improved ticketing experiences for consumers and live event organizers
Blockparty, the leader in blockchain-based live event ticketing, announced on May 16 the launch of its platform that aims to solve prevalent issues in the event ticketing industry. Led by esteemed veterans across the live events and blockchain industries, Blockparty aims to eradicate bots, eliminate fraud, verify ownership and create real demand in order to both deliver an optimal event ticketing experience for consumers, and to allow for sustainable growth for artists, venues and ticket providers.
Blockparty CEO, Shiv Madan, said, “Event goers are rightfully frustrated with the current landscape of the ticket purchasing experience. With Blockparty, we’re reshaping the event ticketing industry to improve the purchasing experience, eliminate reseller exploitation, and give the power back to the people.”
Blockparty’s use of blockchain technology combats unfair pricing, scalpers, fake tickets, and complicated procedures at the gate. To improve the ticket purchasing process, Blockparty’s smart contracts regulate secondary ticket transfers while growing demand by enabling live event organizers, promoters and influencers to earn revenue for sharing events and tickets. Then, for easier event check in, Blockparty eliminates the possibility of ticket fraud and security threats through encrypted advanced facial recognition and fingerprinting technology, ensuring that only the true owner of a ticket can access it while allowing user identity to remain completely anonymized.
Blockparty also presents benefits for the supply side, including live event organizers, ticketing companies, venues, and performers. By using the Blockparty platform, event operators can easily deliver tickets directly to customers, set prices, rewards, and discounts. In addition, Blockparty allows for infinite transfers of tickets on the blockchain, creating demand within the ecosystem and allowing event companies to provide incentives to customers for selling and reselling tickets, as well as earn a share of secondary ticket sales revenues.
In celebration of its launch, Blockparty hosted a live music event on May 15 during New York Blockchain Week at Catch NYC, featuring musical guests A-Trak, Playboi Carti, Topaz Jones, and James Murphy of LCD Soundsystem fame.
Blockparty’s platform will be utilized at Elements Lakewood Festival on Memorial Day Weekend in Pennsylvania, which features leading musicians including headliners Claude Von Stroke and Jamie Jones. More events and partnerships will be announced throughout the summer 2018 festival season.
