Blockchain ticketing solution provider Aventus is to launch an initial coin offering (ICO) next month.

Aventus has developed a blockchain-based solution – described as “the Bitcoin of the ticketing industry” – which aims to prevent unregulated touting and counterfeit tickets.

The token launch of AventCoin (AVT) will consist of a public sale from July 19 to July 24 in which fans will be able to purchase the cryptocurrency.

London-based Aventus enables secure transfer and resale of tickets with built-in inflation caps that aims to eliminate fraud and ensure that the final user can be identified. The company said this type of technology is of particular importance in light of global terror concerns as it brings an additional security measure for attendees.

It boldly claims that its technology “effectively ends the ability for ticket touters to continue in business”.

“We are excited to work with the event-going public,” said an Aventus spokesperson. “We are glad to rid the industry of unfair touting and counterfeit tickets while improving oversight and boosting promotion.

Read Aventus’ white paper here

“We aim to bring a much-needed change to a broken industry by creating the first global standard for the exchange of tickets.”

The technology has been backed by Bernie Dillon, the director of Carnival Live, who has worked for brands such as Caesars, UFC and Hard Rock over the last 30 years.

“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,” said Dillon.

“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.”

Image: Benjamin Nelan