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Blockchain-based ticketing platform Tixbase has announced an exclusive partnership with Turkish event ticketing company Passo, bringing its ticketing to the Avalanche blockchain.
According to a press release As of August 29, the 5-year partnership is the largest deal a blockchain ticketing company has closed so far.
Tixbase and Passo will leverage the Avalanche Network (AVAX) to address common issues in the ticketing industry, such as security, transparency, and user experience. Avalanche’s blockchain technology will also enable companies to monitor and regulate sales in the secondary market, while addressing issues such as counterfeiting, scalping, and inflated prices.
Why is this big?
Passo, which has been offering and managing ticket sales since 2014, is the largest ticketing provider in Turkey. The company offers services for 38 teams and is the official ticketing partner of the Turkish national team as well as major European football competitions such as the UEFA Champions League and Europa League.
Passo manages more than 25 million tickets a year, covering various sporting events, concerts, theatre performances and festivals. This partnership could have a significant impact on the online event ticketing market, which is expected to reach $107 billion by 2032.
Passo will integrate TixChain
The collaboration will utilize TixChain, Avalanche’s layer-1 chain that complies with the European Union’s General Data Protection Regulation (GDPR) and other data privacy laws in the jurisdictions where it operates.
We are excited to partner with Passo, a visionary leader in the Turkish ticketing industry. This is the largest deal signed to date for a blockchain-based ticketing company, demonstrating 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.
The use of blockchain will allow Tixbase to issue non-fungible tokens of the tickets, allowing for collectible digital assets that fans can collect, trade or sell. nfts will also play a crucial role in overall fan engagement and Passo’s loyalty program.
