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If there’s one area of daily convenience that’s desperately in need of an overhaul, it’s ticketing.
Thankfully, the days of losing your paper ticket on the way into a concert, or accidentally destroying your flight ticket in the wash are long gone, but even its digital replacement is riddled with issues. E-ticketing, which started as clumsy information bundles in the airline industry back in the mid-90s, still carries some of those weaknesses forward today.
Distribution and use are big issues. Some organizers still have systems built around physical tickets, and whatever e-ticketing they’ve tried to implement on top of that just adds an additional layer where mistakes can happen. On the other hand, organizers who shift entirely to e-ticketing have big issues with authentication and transparency. E-tickets often just come down to a barcode or a QR code, so they’re fairly easy to duplicate or steal.
NFT e-ticketing has been touted as one of the big technological leaps that combine the security of a physical ticket with the convenience of an electronic system. NFT e-ticketing service provider Uptick, first launched in 2018, is making things even better.
Inside the Uptick app, e-ticketing function makes it easy for event organizers to manage their numbers. Merchants can completely customize the details of their ticket prior to going on sale: everything from pegging tickets to a permanent price, setting a maximum mark-up value and hard-wiring each ticket’s profitability into the code. But that’s not the best thing about it.
If there’s one area of daily convenience that’s desperately in need of an overhaul, it’s ticketing.
Thankfully, the days of losing your paper ticket on the way into a concert, or accidentally destroying your flight ticket in the wash are long gone, but even its digital replacement is riddled with issues. E-ticketing, which started as clumsy information bundles in the airline industry back in the mid-90s, still carries some of those weaknesses forward today.
Distribution and use are big issues. Some organizers still have systems built around physical tickets, and whatever e-ticketing they’ve tried to implement on top of that just adds an additional layer where mistakes can happen. On the other hand, organizers who shift entirely to e-ticketing have big issues with authentication and transparency. E-tickets often just come down to a barcode or a QR code, so they’re fairly easy to duplicate or steal.
NFT e-ticketing has been touted as one of the big technological leaps that combine the security of a physical ticket with the convenience of an electronic system. NFT e-ticketing service provider Uptick, first launched in 2018, is making things even better.
Inside the Uptick app, e-ticketing function makes it easy for event organizers to manage their numbers. Merchants can completely customize the details of their ticket prior to going on sale: everything from pegging tickets to a permanent price, setting a maximum mark-up value and hard-wiring each ticket’s profitability into the code. But that’s not the best thing about it.
The biggest issue with regular e-ticketing are bots immediately snatching up ticket supply. According to Ticketmaster, around 60% of the most popular tickets are bought by bots. Even if a stadium-sized event was up for sale, huge portion of the supply can disappear in seconds due to automated ticket buying systems. In 2014, one bot was able to purchase over 1,000 U2 tickets at Madison Square Garden in under a minute. Despite the venue having a 4 ticket per person cap, nothing could be done to combat this.
With the use of blockchain, there is no feasible way to purchase that number of tickets in one transaction within seconds. The process necessarily takes a few minutes to confirm the block of transactions, which in turn, completely levels the playing field and creates a fair environment for ticket buyers.
There’s no way for scalpers to brute force a large number of ticket purchases with Uptick’s system. That’s a revolutionary step in the ticketing industry for eliminating bots.
Organizers can also put a hard cap on how many tickets are sold. Simply put: no more overbookings, no more doubled sales, no more frustrated customers hitting refresh on their browser to see all the tickets are sold a second after they go on sale.
Information about ticket buyers is also readily available, especially important these days where gatherings might have strict safety requirements. With Uptick’s peer-to-peer communication, organizers can easily speak directly to buyers, making customer service much easier.
There’s no such thing as perfect security, but an e-ticket bought or sold on Uptick comes with authenticity and security built in, same as with any token. That’s a relief to both organizer, who already has enough to worry about, and the customer, who shouldn’t have to worry about whether what they bought is real.
With that authenticity comes collectability. Uptick has its own market for re-selling tickets as collectibles, the way ticket stubs to big events in the past can go for good money. A ticket stub to Babe Ruth’s 500 hundredth home run can go for $200,000 online; good luck trying to sell an expired QR code for that much/ but with NFT e-ticketing, that sort of secondary market is possible.
Through the use of smart contracts, complex policies can be applied to every ticket to suit any need. Everything from pricing, exchange, refunding, reselling rules, and revenue sharing can be enhanced greatly. Plus, every customer can be assured that what they are buying is completely genuine, with absolute ownership.
So, in short, Uptick’s e-ticketing ensures organizers, distributors and end customers can enjoy safer, more convenient and more transparent ticketing (that can’t get lost in the wash).
The biggest issue with regular e-ticketing are bots immediately snatching up ticket supply. According to Ticketmaster, around 60% of the most popular tickets are bought by bots. Even if a stadium-sized event was up for sale, huge portion of the supply can disappear in seconds due to automated ticket buying systems. In 2014, one bot was able to purchase over 1,000 U2 tickets at Madison Square Garden in under a minute. Despite the venue having a 4 ticket per person cap, nothing could be done to combat this.
With the use of blockchain, there is no feasible way to purchase that number of tickets in one transaction within seconds. The process necessarily takes a few minutes to confirm the block of transactions, which in turn, completely levels the playing field and creates a fair environment for ticket buyers.
There’s no way for scalpers to brute force a large number of ticket purchases with Uptick’s system. That’s a revolutionary step in the ticketing industry for eliminating bots.
Organizers can also put a hard cap on how many tickets are sold. Simply put: no more overbookings, no more doubled sales, no more frustrated customers hitting refresh on their browser to see all the tickets are sold a second after they go on sale.
Information about ticket buyers is also readily available, especially important these days where gatherings might have strict safety requirements. With Uptick’s peer-to-peer communication, organizers can easily speak directly to buyers, making customer service much easier.
There’s no such thing as perfect security, but an e-ticket bought or sold on Uptick comes with authenticity and security built in, same as with any token. That’s a relief to both organizer, who already has enough to worry about, and the customer, who shouldn’t have to worry about whether what they bought is real.
With that authenticity comes collectability. Uptick has its own market for re-selling tickets as collectibles, the way ticket stubs to big events in the past can go for good money. A ticket stub to Babe Ruth’s 500 hundredth home run can go for $200,000 online; good luck trying to sell an expired QR code for that much/ but with NFT e-ticketing, that sort of secondary market is possible.
Through the use of smart contracts, complex policies can be applied to every ticket to suit any need. Everything from pricing, exchange, refunding, reselling rules, and revenue sharing can be enhanced greatly. Plus, every customer can be assured that what they are buying is completely genuine, with absolute ownership.
So, in short, Uptick’s e-ticketing ensures organizers, distributors and end customers can enjoy safer, more convenient and more transparent ticketing (that can’t get lost in the wash).
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