Kvě 06

Blockchain Technology to Combat Dodgy Ticket Resales

· May 6, 2018 · 6:00 pm

Secondary ticketing in the UK is a billion-dollar problem, one that Aventus hopes to solve with blockchain technology.

Whether it’s your favorite football match or your music idol’s concert, front-row tickets are probably what you’re after. However, if they happen to be sold out by the time you can afford them, you might be tempted to purchase these tickets from unscrupulous secondary parties.

Prepare to be met with counterfeit tickets and sky-high prices. According to The Guardian, secondary tickets for shows for big artists, such as Adele, can fetch up to $12,000. Preventing these so-called ticket touts seems to be a decades-old issue, but something that blockchain technology could solve.

Blockchain to the Rescue

Annika Monari and Alan Vey, who are the founders of Aventus, will have the opportunity to test this theory at the upcoming FIFA World Cup in Russia. Their blockchain-based program will be used for more than 10,000 tickets to fan events in the US and Europe.

By using blockchain technology, the records for each ticket will be immutable and therefore protected against counterfeiting. Essentially, each ticket will be linked to its owner, which will combat fraud.

By doing this, Monari and Vey, who both have degrees in Artificial Intelligence and Particle Physics, have said that Aventus will “virtually eliminate ticketing fraud and the scourge of unregulated touting”.

A New Solution for an Old Problem

A New Solution for an Old Problem

The Aventus founders discussed their excitement at working towards a solution for this problem:

“It has been an amazing journey. We used to sit in this common room having coffees and worrying about our coursework. But now, hopefully, we will be the people who can solve the problems in the ticketing industry. That would feel incredible and be such a huge achievement for us.”

The platform’s ICO in September last year sold out in just seven minutes, raising a total of just over $35 million.

Positive Impact

Professor Mike Waterson from Warwick University acted as a technical advisor to Monari and Vey. He had this to say:

“It has a lot of potential. Thinking through the market from a fresh perspective is very useful. If they get genuine buy-in from a wide enough range of people then it is going to have a big impact on the market.”

Expanding Blockchain-based Solutions

Waterson also conducted a government report into the secondary ticket industry, including ticket sales for Premier League games. This is also an issue that Aventus hopes to help with. The platform will be working with another blockchain-based platform, Blocside, for the FIFA World Cup initiative, but hope to expand their offerings to Premier League football clubs soon.

Ticket fraud is quite a lucrative industry in the UK, with an annual value of about $1.3 billion. Bernie Dillon, an entertainment industry expert, discussed how Aventus could make a difference:

“Anyone who has ever attended, hosted, or produced a live entertainment event has been affected by counterfeit tickets or extortionate resale prices. Aventus brings a refreshing solution that could end fraudulent activity and ticket touting once and for all.”

Do you think that blockchain technology is the answer to the ticketing industry’s biggest problem? Let us know in the comments below!

Images courtesy of Wikimedia Commons, Shutterstock

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Úno 03

Man Buys Super Bowl Tickets with Bitcoin

· February 3, 2018 · 7:30 am

A fan of the New England Patriots was the first to use cryptocurrency to buy Super Bowl tickets as he spent 2.2 bitcoins for 50-yard line seats at Super Bowl LII.

The football season has finally reached its climax as the Super Bowl is set to take place tomorrow between the New England Patriots and the Philadelphia Eagles. Super Bowl LII is being held in Minneapolis, Minnesota, and it’s estimated that over a 100 million people alone in the USA will watch it. Of course, die-hard fans will watch the gridiron match from the stands of US Bank Stadium. One fan made crypto history by being the first to use bitcoins to buy tickets to Super Bowl LII.

Wilson football

Sitting on the 50-Yard Line

A fan of the New England Patriots had to be on the sidelines for the big game. However, vendors of such tickets do not currently take cryptocurrency. Luck was with him as he contacted TickPick, a secondary ticket vendor, to see if they would accept bitcoins as a payment option.

TickPick decided to take the fan (who wished to remain anonymous) up on the offer and agreed to sell him the tickets. The fan bought seats on the first row on the 50-yard line (the most coveted seats in football) for the price of 2.2 bitcoins. At the time of purchase, the value of the bitcoins came to $19,000.

That’s not a bad price for first row seats. According to TickPick, seats on the 50-yard line are going for between $8000 to $9000, but those seats are much further back. Someone currently has row 2 seats for $15,255 each, if you’re interested.

Tom Brady

TickPick Still Not Sold on Bitcoin

Overall, it took about an hour for the transaction to take place. The CEO of TickPick, Brett Goldberg, was quite happy to make the ticket exchange for bitcoins. However, don’t plan on start using your cryptocurrency to buy tickets for sporting events or concerts any time soon on the website.

Goldberg is not yet on board using crypto as an everyday means of purchase. He says:

In an hour you can see hundreds of dollars in swing. The second it hit my account it was transferred to U.S. dollars.

Me as a business, I don’t want to own bitcoin. I don’t want to be exposed to the volatility.

While lamentable, Goldberg’s attitude toward cryptocurrency is understandable. Most businesses have very tight margins that they operate on, and having a unit of currency fluctuating double digits is enough to give them ulcers.

Still, small steps matter. The first-ever use of Bitcoin to buy Super Bowl tickets is worthy of note, and hopefully, a harbinger of things to come.

Who are you rooting for in Super Bowl LII? How soon do you think it will be commonplace to buy tickets for events with cryptocurrency? Let us know in the comments below.

Images courtesy of Pexels, Wikimedia Commons, and Bitcoinist archives.

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Čvn 11

Sportsbet.io Holds Competition for Euro 2016 Tickets

Source: bitcoin

Sportsbet.io Euro 2016

Bitcoin sportsbook service Sportsbet.io is offering customers a chance to when exclusive semi-final tickets to the Euro 2016 tournament.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

Sportsbet will host a betting tournament where players will “pit their wits against one another for the chance to be at this summer’s Euro 2016 tournament.”

To win points and advance in the tournament, players will have to win group stage bets. Every 100 mBTC in profit earned will get players 100 points towards their total score.

Pairs of Euro 2016 semi-final tickets will be awarded to the top four players on the final leaderboard.

In addition to the betting tournament, Sportsbet will host daily raffles during the Euro 2016 tournament. Raffle winners will win cash prizes.

Sportsbet will draw the winning tickets on their official YouTube channel.

As part of a promotion for Euro 2016, the sportsbook operator hosted a raffle for two tickets to the event’s final round at the Stade de France in Paris.

Commenting on the betting tournament and raffle, Sportsbet.io spokesperson Joe Jordan said, “Our focust is to offer great odds and promotions — as demonstrated by our competition to win tickets to the Euro 2016 final.” He continued, “This summer’s action is going to come thick and fast and so will the prizes, there really isn’t a better time for Bitcoin users to get involved.”

According to Sportsbet, Euro 2016 is set to be “the biggest betting event since the 2014 World Cup,” with approximately 1.5 million bitcoins — worth 600 million euros, or $672 million USD — expected to be wagered on the tournament.

About Sportsbet.io

Sportsbet.iol provides its players with a dedicated, customised VIP programme that features a personal hostess and 24/7 live chat to cater for all their wagering needs. It boasts over 350,000 pre-match events per year, with a peak of 70,000 events during prime months. Sportsbet.io will also feature a comprehensive live offering with hundreds of ‘in-play’ markets available on major sports fixtures.

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Sportsbet.io Holds Competition for Euro 2016 Tickets