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- The partnership between Tixbase and Passo is the largest blockchain ticketing deal to date.
- This partnership will see the launch of NFT tickets, turning them into collectible assets.
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Blockchain ticketing platform Tixbase has signed an exclusive five-year partnership with Passo, a leading event ticketing company in Turkey. The collaboration seeks to use blockchain technology to solve security, transparency, and user experience issues in the ticketing industry while also regulating the secondary market.
This partnership represents a significant transaction for blockchain ticketing, and potentially signals increased interest in blockchain solutions in the sector. The partnership will integrate Tixbase’s blockchain, TixChain, built on the Avalanche Network, into Passo’s ticketing ecosystem, which processes over 25 million tickets annually.
“This is the largest transaction to date for any blockchain 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,” said Emil R. Ljesnjanin, Founder and CEO of Tixbase.
Founded in 2014, Passo manages ticket sales for 38 teams in the Turkish Super League and TFF First League. The company also handles ticket sales for events including UEFA Champions League matches and Turkish national team matches.
This partnership aims to solve problems such as fraud, scalping, and lack of transparency in the secondary market. Tixbase’s blockchain technology creates digital tickets that reduce the risk of counterfeiting and unauthorized resale.
This collaboration introduces Non-Fungible Token (NFT) tickets as digital assets. These NFTs are designed to provide access to additional content and experiences, potentially creating new revenue opportunities for event organizers.
Atil Aykar, GM of Passo, commented on the partnership: “We are thrilled to join forces with Tixbase, a pioneer in blockchain ticketing technology. Their innovative solution perfectly complements our commitment to creating a cutting-edge ticketing platform that protects fans and delivers outstanding outcomes.”
The foundation of this initiative is Avalanche’s blockchain network. Known for its transaction speed, Avalanche provides the infrastructure for Tixbase’s TixChain. The system is designed to be GDPR and data privacy compliant while handling high transaction volumes.
The partnership between Tixbase and Passo will be implemented gradually over the coming months and is expected to be fully implemented by the end of the year.
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