PRESS RELEASE: Blockparty Takes on $57 Billion Live Events Industry with Blockchain-Powered Event Ticketing, App Available Now for Download

PRESS RELEASE: Blockparty Takes on $57 Billion Live Events Industry with Blockchain-Powered Event Ticketing, App Available Now for Download

May 31, 2018 0 By Ray

While most blockchain companies are in development mode and working towards building the platforms they’ve promised and raised money for, others are flying under the radar and truly realizing the benefits that blockchain technology can offer. In stark contrast to some of the recent product-less token sales, blockchain-based ticketing platform Blockparty has just launched their mobile application that effectively incorporates smart contracts in order to remove many of the industry’s current issues such as ticket fraud, scalpers, and exorbitant reseller fees.

Blockparty is already being used for real-world use cases, and this past weekend, the mobile app was utilized as the sole means for entry into a VIP event during the 7,000 attendee Elements Lakewood music festival. Each ticket to the event was represented by a non-fungible ERC-721 token, preventing the possibility of duplication or fraud, and allowing for seamless transfer of ownership. Additionally, within each ticket’s smart contract exists data points such as a digital fingerprint, which must be proven at event entry to safeguard proof of ownership.

In addition to the app’s launch, Blockparty’s native token, ticker symbol BOXX, is now live within the mobile app and can be both spent (on tickets) and earned via their extensive reward scheme, marking one of the first true consumer introductions to cryptocurrency.

Blockparty launches to the public following its first use during Elements Lakewood Music Festival over Memorial Day Weekend

NEW YORK, May 30, 2018 – Blockparty, a leader in blockchain-based live event ticketing, has launched its new ticketing platform, available now for download in the Apple App Store. Founded by top executives from the live events and blockchain industries, Blockparty leverages the power of blockchain technology to eliminate common frustrations with the current ticket purchasing experience such as ticket fraud, lengthy event check-in protocols, and predatory secondary market resellers.

Shiv Madan, CEO of Blockparty, said “We want to rid the world of ticket bots and scalpers. We also want people to be able to easily transfer event tickets and safely purchase secondary tickets. We’re proud to be able to offer a blockchain platform that can do that, and we are incredibly excited for festival goers, music lovers, sports fans, and all live event attendees alike to experience what we’ve built as we roll out marquee event partnerships over the coming months.”

To improve the ticket purchasing process, Blockparty’s smart contracts eliminate bulk buying by bots and unfair re-pricing on secondary markets. Blockparty also eliminates the possibility of fraud and counterfeit tickets through secure, encrypted 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 also presents benefits for live event organizers, ticketing companies, venues, and performers by allowing event operators to easily deliver tickets directly to customers, set prices, rewards, and discounts, as well as earn a share of secondary ticket sales revenues.

Blockparty’s public launch follows its first use at Elements Lakewood Music Festival, which drew more than five thousand attendees over Memorial Day Weekend. Blockparty was used for ticketing of an exclusive event for hundreds of festival goers, which featured DJ sets and special performances by acrobats and dancers.

More events and partnerships will be announced throughout the summer 2018 festival season. For more information, visit www.goblockparty.com.

About Blockparty:

Founded by esteemed veterans across the live events and blockchain industries, Blockparty is a blockchain-based live event ticketing platform, built on the mission of improving the ticket purchasing process for concerts, sporting events, music festivals, and more. Blockparty aims to eradicate bots, eliminate fraud, verify ticket 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 live event organizers. For more information, please visit www.goblockparty.com.