EventChain’s SmartTickets were developed as a solution to the many ticketing challenges of event providers. Whether it’s a concert, meetup, festival, or any other event, blockchain secure ticketing is a genuine asset that can make ticket management easier. It applies to events of all sizes and brings modern technology into an area that desperately needs new solutions.
At face value, SmartTickets are a credible way to fight counterfeiting, stop automated bots from buying out tickets, and help event providers manage their ticketing more efficiently.
However, it’s the lesser known benefits of blockchain secure ticketing that really have providers excited.
With traditional ticket sales, event creators have lost control of prices. The secondary ticket market has gone unregulated with markups reaching all-time highs. Once tickets were initially purchased, they were often resold for double or even triple the value.
Blockchain secure ticketing could end this and finally allow event creators to set prices for primary and secondary sales. The fully programmable nature of a SmartTicket means contract codes can be used to peg tickets at a permanent price.
If the provider is willing to allow a secondary market to continue to thrive, designated markup values can be implemented as well. This puts event holders in complete control over their ticket pricing and lessens the incentive for resellers to buy-up all the event’s tickets the moment tickets go on sale.
Within the blockchain, SmartTickets are given unique identification numbers. Combined with the integrated ticket resale reputation system, this makes it impossible for tickets to be resold multiple times and counterfeiting a ticket on the network is just as unlikely.
Better yet, event promoters can build their own reputation in the secondary market and create a name for themselves. It takes ticket resellers and scalpers to a new level by allowing them to brand their practice and sell tickets legitimately, with every sale tracked within the SmartTicket reputation system.
As an event provider, this builds confidence in your resellers and provides peace-of-mind that event attendees are never being exploited or ripped-off by counterfeiters.
Secure ticketing is all about transaction accountability. The more transparent and secure event ticket sales are, the greater confidence attendees will have in the event provider.
Important data such as how many tickets have been sold in primary and secondary markets is always available thanks to the blockchain secured foundation. Most ticketing architecture lacks in transparency and makes it difficult to track sales and ensure scalability. With SmartTickets, selling more tickets doesn’t require any new technology, you have immediate processing speed, consistent data, and a variety of management solutions already in place.
When events reach their ticket release date, ticketing platforms are often overwhelmed with heavy traffic and some can’t handle the burden. Rather than putting demand on a select few websites, SmartTickets can be distributed through a network of unlimited websites. This decentralizes ticket sales and disperses traffic, ultimately reduce load and bandwidth on the websites involved. It’s just another way that SmartTickets eliminates dependence on a centralized server. It ultimately reduces the potential for any single system to crash and ensures buyers can purchase tickets immediately upon release, without experience downtime or loading issues.
With the traditional method of verifying tickets at the entrance gate, buyers are unaware of their counterfeit ticket purchase until the last possible moment. Blockchain secured event ticketing means ticket authenticity can be verified at any time. Validity checking allows users to buy and sell verified tickets and in a much easier way. Tickets sales are recorded in a secured and incorruptible form with documented ticket ownership data. Tickets can finally be tracked and managed in real-time.
Since ticket ownership is transparent and verified by means of an audit trail that ensures integrity and compliance. It gives event holders complete control and the ability to set undisputable rules for how tickets may be sold and resold. Auditing transactions is as easy as reviewing the ledger and can be done at any time.
Real Time Updates
One of the best aspects of blockchain secure ticketing is it provides a solution to directly communicate event changes to attendees. If event times change, there’s a way to inform ticket holders and ensure everyone is updated in real-time. Traditionally, this was near impossible and it meant that events had to cancel altogether at times if ticket holders couldn’t be notified in time.
By knowing who’s going to your events, you gain access to better data and increased awareness. On the primary and more importantly secondary market, ticket sales are tracked and 100% transparent. With traditional ticket sales, event providers are completely in the dark when it comes to the secondary market. They have no way of knowing if tickets are resold and in who’s hands they end up.
SmartTickets provide a solution that gives event holders access to this key data.
Why does this matter? Targeted marketing has become the new standard for today’s businesses. On digital giants like Instagram, many businesses are using remarketing to laser-focus their marketing efforts and advertise to their precise audience. If you could bring this high level of marketing precision to your event, you could not only sell more tickets but you could sell apparel, paraphernalia, banner ads, and more.
As an event organizer evaluating ticketing platforms, you may tend to be on the cautious side. You want to gain awareness and publicity for your event, give buyers better access to purchase your tickets, and nurture relationships with ticket distributors. However, you also don’t want to overpay at a crucial time in your event’s development. SmartTickets are affordable and utilizing a blockchain secured network is a cost-effective decision. While the immediate and long-term benefits are one reason to consider SmartTicket technology, the actual buy-in price is low.
Event Ticketing Challenges Solved
Blockchain secure ticketing solves many of today’s common event ticketing challenges, offering event organizers the opportunity to enjoy the benefits in the immediate future and support a better standard for the industry and event attendees.