More than ever, Brazil is on the route of major musical tours and festivals, attracting the desire of millions of people, but we still live with a problem as big as the artists: ticket sales. Can asset tokenization be a solution?
The reduction in face-to-face sales and the use of more complex ticket sales platforms are measures that have been working, but what happened in the sale of tickets for the tour The Eras Tour by singer Taylor Swift and in previous shows sounded a great alarm.
The crime of currency exchange dominates complex techniques and we leave the physical queues retail and arrive at sold-out wholesale tickets in 15 minutes.
Can blockchain technology put an end to this situation?
BLOCKBR, a native web 3.0 company, will talk about how the token can overcome exchangers and help save the fun of millions of people!
THE SAD REALITY OF EXCHANGES IN BRAZIL
Every year, people’s bad experiences with buying concert tickets follow one another. From Coldplay and RBD’s 2017 concerts to recent Taylor Swift concerts, little has evolved.
TAYLOR SWIFT TICKETS SALE
The audience that stood in the virtual queue on the Canadian singer’s concert sales platform reached 1.5 million, but a part was made up of robots that performed the access, purchase and payment tasks and helped to sell out the tickets in a few minutes, leaving the angry fans.
If nothing is done to combat it, this will be a trend at every major event.
CHALLENGES FOR THE NEXT YEARS
Despite currency exchange being a worldwide problem, Brazil is among the places where it assumes a large proportion because it is not a frequent route for great artists and, therefore, generates a much greater demand.
The agenda for 2024 and the next few years is heavy, with mega tours by artists like Madonna, Paul McCartney and Beyoncé, in addition to music festivals like Rock In Rio and Lollapalooza, which are more financially viable.
There will be long hours of waiting on the sales sites. Combating scalpers is essential to unite the success of artists on stage with the satisfaction of their fans!
THE TOKENS ARE ALREADY KNOWN AT THE BUSINESS SHOW
The tokenization of assets and rights is a strategy that is leveraging profits in various sectors of activity and one of its main differentials is the security that the blockchain provides.
But what is token?
It is an encrypted record that can digitally represent all kinds of assets, from reals such as tokenized real estate to securities and even the right to meet the artist in the dressing room after the show.
Yes, many of the world’s great artists already use tokens to offer exclusives – they are fan tokens – and there are already experiences with ticket tokens in several places.
HOW TICKETS TOKENS WOULD WORK
The idea of creating ticket tokens is the same used in tokenization projects in general and this can bring a series of benefits to the prevention of the action of scalpers and the transparency that is so demanded from the sales systems of large events.
- The organizer or producer of the event signs a tokenization project with a company specialized in tokenizing businesses such as BLOCKBR;
- The company will do all the technical formatting of the project: the number of tokens (tickets), configuration by dates, sectors, categories, prices and other attributes;
- The smart contract is created, the digital document that regulates all ticket sales conditions;
- The distribution and disclosure of tickets in tokens is carried out on a sales platform to be defined and which may even belong to the artist himself;
- People will be able to buy ticket token from a registration made on the platform, either through the tokenizer or the artist’s production.
WHAT ARE THE BENEFITS OF TOKENS FOR TICKETS SALES
SYSTEM IMMUNE TO DUPLICATIONS AND FORGERIES
The token is a digital asset that represents the ownership of the ticket within a blockchain, which is a distributed database, that is, the information about the token is shared by an infinite number of computers.
Every sale must be unanimously approved by the points in the network (the computers) and this prevents duplication of records or a fraudulent sale.
UNIQUENESS AND TRACEABILITY
Each token trade (ticket sale) is given a unique ID and added to a chain of information blocks in such a way that there is no way to tamper with the transaction data.
The ticket gains traceability throughout the chain, giving the token issuer the opportunity to analyze suspicious behavior at resellers – for example, a high concentration of purchases on a given day and time, region or access IP.
Do you know the benefits of tokenizing your assets and rights?
FIGHTING EXCHANGE EXCHANGE WITH THE INTELLIGENT CONTRACT
The smart contract is the brain of tokenization of shows, as it is possible to define all the business rules, including:
- Income limit per user (CPF);
- Limit of half-price tickets per CPF;
- Rules for trading on the secondary market (resale).
It is possible to prevent resale or limit the resale value to the total amount paid in the previous step in order to discourage the exchanger’s main objective, which is financial gain.
The production company can define a percentage of royalty in each resale to reduce the gain, but without making genuine resales unfeasible – people who won’t go to the show and don’t want to lose money.
TRANSPARENCY WITH REGISTRATION ON THE PLATFORM
Registration on the tokenization platform has stricter requirements than ticket sales sites, as it must meet legal requirements for transparency and control of who operates with token purchases.
These requirements refer to the concepts of KYC (Know Your Customer) and KYT (Know Your Transaction) implemented through the Cryptocurrency Law and which, by extension, covers the token market.
The platform may require data conditioning the purchase, such as supporting information on the half-price benefit.
These are resources that make the user more exposed to internal searches, helping to curb attempts at irregularities.
TOKENIZE YOUR ASSETS WITH BLOCKBR!
Tokenization is a reality that is becoming present in all segments and business models, it is not something so innovative that it should still be seen with suspicion. Companies and individuals are currently monetizing tokens.
Recent actions by BACEN and CVM signal that tokenization is legal and the digital real will be a great divider to increase the credibility of technology for those who want to invest in tokens.
Offering your business token is simpler than you might think. Do you want to see the competition come out ahead?
Come and talk to BLOCKBR.
We have the best token offering strategy on the market!
BLOCKBR Digital Assets is a fintech native web 3.0 that brings technological innovation and digital knowledge to transform physical assets into digital ones, in the asset tokenization process.
The supply of tokenized assets is democratic and decentralized, which makes the way of investing safe, simpler and more efficient.
We enable, structure, issue and offer tokens on our platform and beyond. Be aware that tokens depend on feasibility and regulatory factors.
Come tokenize your business and put it on a higher level in the market!