NFT Ticketing with Blockchain Technology
NFT Ticketing is set to completely change the way event ticketing works for good.
Smart NFT Tickets are unique digital assets issued by event organizers, sports clubs and artists. They can be easily transferred or resold secured by blockchain technology.
But not all “blockchains” are equal,
B.A.M is different.
Why using blockchain for ticketing?
Automated bots, scalping and lack of secondary market control are widespread issues with music or sporting events. Keeping control over who resells the tickets as well as who buys them on the secondary market are the problems our blockchain technology has a sound solution.
Most ticketing solutions are still insensible to the risks associated with ticket forging or ticket resale to individuals who are not the wanted attendees. The threats associated range from sexual harassment to active shooter occurrences. Tracking ticket life cycle using blockchain technology gives intelligence to avoid unwanted individuals to gain access.
This makes blockchain ticketing very appealing for events that have security in mind and want to be able to have stricter control over who gains access to the event.
B.A.M facilitates a unique cryptographic identity to
Fight Black Markets
Our permissioned blockchain identifies BOTS, scalpers and other rogues immediately using behavioral scoring models. This even works without knowing the real identity of the rogues or where they are.
B.A.M network issues unique cryptographic tickets to
Eliminate Fake Tickets
We eliminate duplicate and other fraudulent tickets from primary and secondary markets.
B.A.M offers smart NFT tickets to
Secondary Market Revenue
We provide a controllable secondary market with every ticket. Terms and conditions for primary and secondary sales can be set by the issuer. Revenue or commission can be set for every single transaction done.
B.A.M behavioral scoring traces all tickets in real-time
Detect suspicious behavior
Our behavioral scoring model detects any suspicious behavior. This even works without knowing the real identity of the rogues or where they are.
Blockchain technology key benefits
Business transactions usually deal with sensitive data. Universal access with public blockchains (e.g. Ethereum) could cause huge losses to the parties concerned.
Hence, strong privacy features are one of the elements that B.A.M network has along with adherence to the applicable regulatory and legal requirements (e.g. GDPR).
B.A.M network protects enterprise data through a three-level data flow structure:
- Separated ledgers give access to authorized users only.
- Introducing Additional privacy keeps data confidential between the parties to a single transaction.
- Zero-knowledge validation proves the title of data without actually revealing the data.
The lack of transparency across each station in the life cycle of a ticket can interrupt the flow of information between ticketing stakeholders (i.e. artists, organizers, promotors, venues).
Most of the stakeholders also do not want to share information regarding their ticket sales. Especially pricing mechanism and contractual details are an internal affair to any business. If this information is made transparent it could benefit competition (e.g. adapt strategy).
B.A.M Ticketing equips all stakeholders with a trusted network, helping to maintain sufficient transparency while not disclosing confidential information. A high level of privacy is ensured as transaction details are to be shared only among involved parties based on a permissioning system.
Smart Contracts are executed automatically. This eliminates middlemen, reduces manual intervention efforts and ultimately reduces costs. Immutable ledgers in the record-keeping system reduces also the cost of an audit.
A predictable cost is always considered as a good measure of performance along with assurance of future cost stability. B.A.M runs on different platforms having constant fees, thereby improving the operational predictability.