Exclusive Partnership Between Tixbase and Passo Brings Blockchain-Based Ticketing to Avalanche
Blockchain-based ticketing platform Tixbase has announced an exclusive partnership with Turkish event ticketing firm Passo, moving their ticketing services to the Avalanche blockchain.
According to a news release on August 29, this 5-year partnership marks the largest deal ever secured by a blockchain ticketing company.
Transforming the Ticketing Industry
Tixbase and Passo will leverage the Avalanche (AVAX) network to address key issues in the ticketing industry, including:
- Enhancing security
- Improving transparency
- Elevating user experience
- Monitoring and regulating secondary market sales
- Combating counterfeits, scalping, and inflated prices
By utilizing Avalanche’s blockchain technology, the partnership aims to create a more secure and transparent ticketing ecosystem.
Why Is This Partnership Significant?
Passo, Turkey’s largest ticketing provider since 2014, plays a pivotal role in managing ticket sales for:
- 38 sports teams
- The Turkish National Team
- Top European football competitions, including the UEFA Champions League and Europa League
Handling over 25 million tickets annually for sporting events, concerts, theater performances, and festivals, Passo’s collaboration with Tixbase could significantly impact the online event ticketing market, which is expected to reach $107 billion by 2032.
Integration of TixChain
This partnership will also see the integration of 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.
“We are excited to partner with Passo, a visionary leader in the Turkish ticketing industry. This is the largest deal signed to date for any blockchain ticketing company, proving the value of our technology and paving the way for global adoption of Tixbase’s novel solution that benefits all participants in the ticketing ecosystem.” – Emil Ljesnjanin, founder and CEO of Tixbase
Blockchain and NFTs: Enhancing Fan Engagement
The use of blockchain technology will enable Tixbase to issue non-fungible tokens (NFTs) for the tickets, creating collectible digital assets that fans can:
- Collect
- Trade
- Sell
These NFTs will also play a crucial role in boosting overall fan engagement and enhancing Passo’s loyalty program.
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