Key Takeaways
- Tixbase and Passo’s partnership marks the largest blockchain ticketing deal to date.
- The partnership introduces NFT tickets, turning them into collectible assets.
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Blockchain ticketing platform Tixbase has entered into a five-year exclusive partnership with Passo, Turkey’s major event ticketing company. The collaboration intends to use blockchain technology to address issues in security, transparency, and user experience in the ticketing industry while also attempting to regulate the secondary market.
This partnership represents a significant deal for blockchain ticketing, potentially indicating increased interest in blockchain solutions within the sector. The alliance will integrate Tixbase’s blockchain, TixChain—built on the Avalanche network—into Passo’s ticketing ecosystem, which handles over 25 million tickets annually.
Emil R. Ljesnjanin, Founder and CEO of Tixbase, stated, “This is the largest deal signed to date for any blockchain ticketing company, proving 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.”
Passo, established in 2014, manages ticket sales for 38 teams in the Turkish Super League and TFF First League. The company also handles ticketing for events including UEFA Champions League matches and Turkish National Team games.
The partnership aims to address issues such as fraud, scalping, and lack of transparency in the secondary market. Tixbase’s blockchain technology will create digital tickets intended to reduce the risk of counterfeits and unauthorized resales.
The collaboration introduces NFT (Non-Fungible Token) 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 state-of-the-art ticketing platform that protects our fans and delivers exceptional results.”
The use of Avalanche’s blockchain network underlies this initiative. Avalanche, known for its transaction speed, provides the infrastructure for Tixbase’s TixChain. This system is designed to comply with GDPR and data privacy laws while handling large transaction volumes.
The partnership between Tixbase and Passo is expected to be implemented gradually over the coming months, with full deployment anticipated by year-end.
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