Tixbase partners with Passo to transform ticketing via Avalanche

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As a seasoned researcher with a keen interest in blockchain technology and its real-world applications, I find this partnership between Tixbase and Passo to be a significant stride forward for the ticketing industry. With my background in studying global market trends and understanding the potential of emerging technologies, it’s clear that this collaboration could revolutionize the online event ticketing market.

The blockchain-powered ticketing service, Tixbase, has secured a unique collaboration with the Turkish ticket provider, Passo. This partnership will move Passo’s ticketing operations onto the Avalanche blockchain.

As a crypto investor, I’m thrilled about the recent announcement that a blockchain ticketing company has signed its biggest partnership yet, marking a significant milestone in this sector after five years.

Tixbase and Passo plan to use the Avalanche (AVAX) network to address common problems in the ticketing sector, including security, transparency, and user-friendly experiences. By employing Avalanche’s blockchain technology, they aim to oversee and control secondary market transactions while dealing with issues like fraudulent tickets, scalping, excessive pricing, and other related concerns.

Why is this big?

Since 2014, Passo has been a leading player in the ticket sales industry within Turkey. With services spanning across 38 sports teams, it holds the title of Turkey’s largest ticketing provider. Notably, it serves as the official ticketing partner for the Turkish National Team, and also partners with prestigious European football competitions such as the UEFA Champions League and Europa League.

Each year, Passo manages more than 25 million tickets for a wide range of sports games, music concerts, stage plays, and festivals. If this partnership comes through, it could make a substantial difference in the digital ticketing industry, projected to be worth approximately $107 billion by 2032.

Passo to integrate TixChain

The partnership plans to employ TixChain, a blockchain based on Avalanche’s first layer that adheres to the EU’s General Data Protection Regulation (GDPR) and other data protection regulations in its areas of operation, for its operations.

We’re thrilled to announce our collaboration with Passo, a pioneer in Turkey’s ticketing sector. This partnership marks the biggest deal ever sealed by any blockchain-based ticketing company, underscoring the worth of our technology and opening doors for worldwide acceptance of Tixbase’s innovative approach that advantages everyone within the ticketing industry.

Emil Ljesnjanin, founder and chief executive officer of Tixbase.

Employing blockchain technology, Tixbase plans to create unique non-interchangeable tokens for the tickets. These tokens function as distinctive digital items that enthusiasts can accumulate, trade, or resell. Moreover, these Non-Fungible Tokens (NFTs) will significantly contribute to overall fan interaction and be instrumental in our loyalty program.

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2024-08-29 18:43