In this episode of our Blockchain Hustlers series, we feature another BSV blockchain stalwart Gregory Ward, Founder of TicketMint, an NFT ticketing platform built on the blockchain.
Ward demonstrates TicketMint’s functionality and explains that by utilising BSV’s scalable blockchain technology, the app empowers events and ticketing systems with the ability to mitigate fraud, forgery, and counterfeiting. This reduces the impact of ticket scalping and price gouging and allows artists and event organisers to regain control of the secondary ticketing market.
What is TicketMint?
‘The TicketMint platform solves the issue of fraudulent ticketing. In 2019, 12% of all tickets that adults had purchased were actually, in fact, a scam or fraudulent ticketing,’ said Ward.
‘So TicketMint helps to mitigate all fraudulent ticketing by utilising scalable blockchain technology, as well as offer opportunities for event creators to have complete oversight over their ticketing platform, their attendees, as well as offer the guarantee of authentic tickets.’
This means fans feel safe and secure that the tickets that they purchased are, in fact, authentic. It also offers the benefit of a collectable ticket that can be saved, traded or sold afterwards, Ward said. Another obvious benefit is that event goers and organisers know that there will be no price gouging or or ticket scalping.
USING BLOCKCHAIN TO OFFER SOMETHING NEW
Ward notes that TicketMint’s clients don’t need to have any prior knowledge of blockchain to use the platform or integrate their services.
‘Ticketmint completely. abstracts away the blockchain technology offering both event creators as well as concert goers the ability to interact 100% without any knowledge whatsoever,’ he said.
Ward added that TicketMint uses blockchain in several ways. First, by allowing an event creator to authentically mint tickets from their account which is then shown to event purchasers or ticket purchasers.
Ward said that blockchain integration also guarantees fans that their tickets are 100% authentic.
‘So when a purchaser buys a ticket with their E2 wallet, they’re able to store their ticket that is minted on the blockchain and guarantee that their ticket is authentic. They’re able to go into the blockchain and trace that ticket to show its track ability, audit, auditability and authenticity,’ he said.
WHY BSV BLOCKCHAIN IS THE ONLY OPTION FOR TICKETMINT
Ward said that he opted to build TicketMint on BSV blockchain due to its massive scalability as well as the ability to actually put assets on-chain.
‘This is not available in any other blockchain, and so we found that it is the only blockchain for authentic tickets and purchasing. It is quite exciting for us what the future looks like for Web3 and ticketing event creation and ticketing purchasing.
‘So we already have the ability with TicketMint to mint tickets on the blockchain to show absolutely authentic tickets. But when you look at some of the other applications in our ecosystem, such as Omniscape, we’re able to drop NFTs at live concerts where event goers can pick up a free drink token just by simply grabbing an NFT in their physical world with a virtual NFT.’
Ward noted that another benefit going forward is that event creators will be able to know exactly who is coming into their events, and ultimately help keep people safe.
‘We’re going to see TicketMint technology empower all sorts of industries. Not just events that we’re thinking of today, like sports and concerts, but also everything from bus passes to to airline tickets as well. We believe that TicketMint technology and blockchain is going to be able to improve every industry that utilises tickets.’
DEMONSTRATION OF TICKETMINT
This episode of Blockchain Hustlers also includes a demonstration by Ward on how TicketMint works, including:
- The events which are currently being advertised;
- The ticket buying process and wallet features;
- Retrieving and activating tickets;
- QR code and mobile phone integration.
With TicketMint, business have access to several blockchain-based features, including:
- Utility NFT gating: Virtual or physical gating is made simple and verifiable through our utility NFT Tickets;
- Collectible tickets: Every ticket is a unique collectible and can enhance attendee experience;
- Staying connected: Enhanced data collection and direct lines of communication beyond traditional contact;
- Blockchain secure: Tickets remain cryptographically secured through TicketMint’s blockchain infrastructure.