Combatting counterfeit and fraudulent secondary-market ticket sales.
Context & Challenges
Mobile ticketing is the most popular purchasing method for sports and entertainment events, with customers spending over $10 million per year. However, there is a growing problem of counterfeit and fraudulent secondary-market ticket sales on unknowing consumers. The current event ticketing process can be broadly characterized with the following features:
— Manual change management
— Rigid ticketing options
— Unpredictable loyalty
— Inconsistent maintenance records
Introducing a smart ticketing solution, leveraging smart contracts on STRATO Mercata.
The creation of a smart event ticketing system that leverages STRATO Mercata’s smart contract functionality:
✓ Real-time ticket transfer capabilities
✓ Integrates with traditional legacy ticketing systems
✓ Enhanced analytics features, creating crucial insight into customer and market behavior
✓ Tokenization for on-ticket revenue and communication opportunities
✓ Immutable records (single source of truth) for tickets and transactions on the platform
✓ Increased security for data storage