Aventus, a recently finished ICO (Initial Coin Offering) based in Wales which raised $20 Million, is aiming to improve the ticketing industry with an open source Blockchain based system. Aventus is not the only startup in the Blockchain space aiming to disrupt the current ticketing industry, there has been others such as Blocktix, Guts, Cloudchain, and Upgraded. There are also some upcoming ICO’s entering the space. Bernie Dillon, a sports & entertainment industry veteran has stated the following about Aventus:

“Anyone who has ever attended, hosted, or produced a live entertainment event, be it a UFC fight, boxing match, or concert has been affected by counterfeit tickets or extortionate secondary resale prices. Aventus brings a refreshing solution to these age-old problems that could very well end fraudulent activity and unregulated ticket touting once and for all.”

Why is Blockchain Ticketing Needed?

Ticketing on the Blockchain will allow anyone with an audience to sell tickets such as Social Media influencers adhering to specific rules. Proprietary Blockhain based protocol dramatically reduces black market ticketing activities. Controls unregulated touting by setting price caps on resale, reducing cost, and reducing customer confusion through Blockchain reference.

Additional Features & Alpha Release

Artificial Intelligence has been a constant mention in the Blockchain space and Aventus will be adopting AI tech into their platform. A Rest API (Representational State Transfer) will allow any ticketing company with a payment gateway to store or replicate tickets and all associated logic onto the Blockchain. IMS – IP Multimedia Subsystem – a platform for ticketing companies and promoters to enable centralized control, reporting, data, and distribution tools. Data & Analytics – Aventus is also working on a data platform which will analyze large amounts of data to provide campaign based insight and report for ticketing companies and promoters. As for October 2017, Aventus has a long road ahead. It will be interesting to see how it all unfolds and if they will be partnering with any bigger names in the space.