Passo and Tixbase have formed an exclusive partnership to shift their ticketing to the Avalanche blockchain.
The five-year relationship is the biggest agreement a blockchain ticketing company has closed to date, according to a news release dated August 29.
Tixbase and Passo will utilize the Avalanche network to address common problems in the ticketing sector, such as security, openness, and user experience.
With the help of Avalanche’s blockchain technology, businesses will also be able to control and monitor sales in the secondary market and deal with issues like price inflation, scalping, and counterfeit goods.Â
Why is it so Large?
Passo is the biggest ticket supplier in Turkey, having managed and offered tickets since 2014. In addition to serving 38 teams, the organization is the official ticketing partner of the Turkish National Team and major European football leagues like the Europa League and UEFA Champions League.
Every year, Passo manages more than 25 million tickets for various events, including concerts, theater productions, festivals, and sporting events.
The internet event ticketing business, which is projected to reach $107 billion by 2032, may be greatly impacted by this alliance.Â
Passo to Integrate TixChain
The collaboration will utilize TixChain, an Avalanche layer-1 chain that complies with the European Union’s General Data Protection Regulation (GDPR) and other data privacy laws in its operating jurisdictions.
This is the biggest contract any blockchain ticketing company has ever signed, demonstrating the worth of our technology and opening the door for Tixbase’s ground-breaking solution to be used globally, which benefits every player in the ticketing ecosystem.
Emil Ljesnjanin is the CEO and creator of Tixbase. Tixbase will use blockchain technology to create non-fungible tokens of the tickets, enabling enthusiasts to amass, exchange, or sell collectible digital assets.
Additionally, the NFTs will be very important for Passo’s loyalty program and overall fan involvement.
