Blockparty Introduces Blockchain-based Event Ticketing to Transform Global Live Event Industry
Blockparty, the leader in blockchain-based live event ticketing, today announced 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. We’ve all been there – after spending months saving up for tickets to a concert or sports match, you furiously type in a captcha on a ticketing site, desperate to get great seats — only to find that all tickets are sold out and have magically re-appeared, within minutes, on a reseller site for 5 times the original price. 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 Advisor and former Ticketmaster Executive Vice President Greg Consiglio said, “Blockparty’s first-of-its-kind ticketing platform makes it easy to manage user identity to certify the authenticity of tickets and empower consumers with a more secure way of purchasing tickets. It will also enable ticketing companies, venues, and live event organizers to solve inefficiencies such as gate fraud, physical ticket accounting and bulk-buying by bots, while establishing imputable rules through the blockchain along with encrypted and anonymized facial recognition and fingerprint technology.”
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.
Blockparty’s founding team is made up of industry experts across the blockchain and live event spaces, including CEO Shiv Madan (former COO at a division of Time Inc.’s music brand NME.com), COO Andy Goldstein (former COO of cryptocurrency payment company Metal Pay), CTO Rikesh Thapa (former founder and CEO of a decentralized energy blockchain startup), Vice President Vladislav Ginsburg (Director of an art technology startup in partnership with Live Nation), Board Advisor Aaron Chawla (production and/or operations for Coachella, the Super Bowl halftime show, Lollapalooza, Bonnaroo, Kanye West, Jay Z and Daft Punk), and Board Advisor Greg Consiglio (former EVP of Ticketmaster, CEO of Beatport, COO of SFX Entertainment and SVP at AOL).
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. For more information, visit www.goblockparty.com.
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