Ed Sheeran’s manager may loathe online ticket-touting, but could blockchain technology be part of the solution in stamping it out?
Startup Aventus Systems hopes so: it has announced a partnership with music D2C firm Townsend Music to test its blockchain-ticketing technology in the UK.
That tech “mirrors the creation, transfer, and sale of tickets throughout their lifecycle on the Ethereum network”, which it hopes will help to eliminate ticket fraud, as well as enabling promoters and venues to set permissions on how tickets are sold on the secondary market.
“As Aventus develops over time, we will be adding new features that Townsend can leverage and make available to their clients, growing the use of our blockchain technology. We are excited to be working with such a great company,” said Aventus directors Alan Vey and Annika Monari in a statement.
It’s not the only company eyeing the blockchain as having potential for ticketing though: in the past year, we’ve seen startups pop up including Guts Tickets, Citizen Ticket and Lava.
Aventus is also turning to that most-2017 of funding mechanisms, an initial coin offering (ICO), to raise money to fuel the development of its technology.