What is UTIX about?

UTIX is an online, decentralised event hosting and e-ticketing platform that utilises smart contracts to reduce market inefficiencies and provide event organisers (EO) with variables they conventionally would not be able to control. Users and event organisers can buy or sell tickets through cryptographic signatures stored on a blockchain that cannot be altered or destroyed, removing the requirement of centralised servers, over-reliance on costly third parties and other negative externalities that arise through an unregulated free market mechanism.

UTIX, through their own protocol, can lend tokens to an event organiser to be distributed to a user when a ticket to their event is purchased. Through their user-friendly interface, an event organiser/user will have all the functionality of a blockchain, without the added complexities typically involved. By utilising smart contracts, they can reduce complication, cost, and minimize the threat of fraud.

What are the value drivers behind UTIX token price?

The value of UTIX in the long run will be brought upon with the addition of events and users referencing the protocol for the tools it will provide. Therefore the main value driver behind UTIX token price is the demand of for the protocol and the tool it provides for users. UTIX creates value by directly overcoming inefficiencies that lead to economic market failure and negative externalities.