Current event ticketing industry faces challenges such as scalping, counterfeit tickets, and inflated prices due to intermediaries.
Traditional ticketing systems are often inefficient, with long waiting times and a lack of transparency in the ticket purchase process.
Blockchain-based ticketing systems offer a more secure and transparent alternative, providing a tamper-proof record of ticket ownership and transfer.
NFT-based tickets are unique and cannot be duplicated, ensuring that only the original owner of the ticket can transfer it.
By burning the NFTs once the warranty of the product is expired, the system can ensure that the tickets are not resold or used for fraudulent activities.
The use of cryptocurrency provides a secure and efficient payment system that reduces the need for intermediaries and lowers transaction costs.
A user-friendly system that enables the creation, transfer, and purchase of NFT-based tickets will benefit both event hosts and attendees by providing a more secure, transparent, and efficient ticketing system.