Changing human behavior is one of the hardest things to do, as with change comes fear and anxiety. As creatures of habit, we tend to stick to a certain way of doing something. When a new way comes around, we turn the other cheek.
Since 1995, traditional ticketing platforms have promoted archaic practices that put attendees between a rock and a hard place. Fans often spat hatred towards artists and organizers about the horrendous service fees, zero security or transparency, and lack of post-event engagement.
Twice, Rock and Roll Hall of Fame inductee, Neil Young has spoken out about these fees, stating on his blog:
"TICKETMASTER FEES at 30%.
It's over. The old days are gone. I get letters blaming me for $3,000.00 tickets for a benefit I am doing. That money does not go to me or the benefit. Artists have to worry about ripped-off fans blaming them for Ticketmaster add-ons and scalpers.
Concert tours are no longer fun. Concert tours no what they were."
The issue doesn't lie with artists; it lies with ticketing platforms and their lack of drivers for behavioral adoption intention.
Traditional ticketing platforms charge additional fees ranging anywhere from 20% to 100%+ per ticket, citing them as "service fees", "venue fees", "operational fees", and others that skyrocket the price of tickets. While some fees are warranted to maintain the integrity of the platforms, 20%+ starts to be too much.
Fortunately, technology exists that can enforce positive ticketing behavior. Blockchain technology provides event organizers the opportunity to provide a much more secure, seamless, and transparent ticketing experience that goes beyond the end of each event.
This technology can sit behind the scenes, working in tandem with familiar paths most individuals are used to. As it evolves, so do the benefits, but at its core blockchain ticketing provides:
Zero Ticket Fraud & Scalping with Layers of Security
The main interactive element of blockchain technology is digital wallets - the mechanism in which users can engage with cryptocurrencies, tokens, non-fungible tokens (NFTs), and blockchain layers across the decentralized ecosystem. These wallets are connected to each individual's mobile device and can only be accessed via each wallet's unique public and private keys.
Platforms can go the extra step to verify via KYC or the know-your-customer process. This connects each individual wallet with a hard-copy ID, such as a driver's license. However, doing so takes away from the anonymity decentralization provides each user and their respective wallet's data.
Cutting Bots Off at the Source
Bots are intolerable pests that manage to quickly purchase mass quantities of tickets and then resell them on the secondary market for a much higher cost. This forces avid fans & diehard followers to have to pay exuberant prices to see their idols. Current ticketing platforms enable these bots and promote these unhealthy practices, providing a poor experience for the fans.
With blockchain ticketing, enforcing positive behavior and eliminating bot practices is an ongoing process, but ensures a ZERO fraud and scalping environment for everyone. With rules set within smart contracts, transactions only happen with active wallets connected to active devices.
Event organizers can set the number of ticket limits, upsell max percentages, dynamic metadata that changes based on engagement, and much more. These rules enforce a fair primary & secondary market for all.
Verifiable via On-Chain Metadata for 100% Transparency
Immutable on-chain metadata associated with each ticket ensures 100% transparency across all aspects of the ticket. Event organizers can verify the current ticket holder in an instant, the original face value, every movement of each ticket, and more. This metadata, built into the smart contracts, also ensures that each ticket plays "fair" and that all utility behind the ticket is provided to the true ticket holder.
With dynamic HTML, event organizers are able to upgrade the ticketing experience by changing the metadata based on criteria that can be met by the fan. For example, if someone attended all of a brand's events in a year, they can receive a special digital collectible from their tickets that collectively unlock better rewards and utility.
Automatic Royalty & Post-Event Reward Distributions via Wallet IDs
The rise of digital collectibles and memorabilia is leading to a growing secondary market, but with traditional platforms, there is a high level of human manipulation that can occur. With blockchain ticketing, this manipulation probability is eradicated, as everything runs seamlessly according to smart contract governance.
With the secondary market comes royalty fees associated with each sale. These are a percentage of the resale price that goes back to wallets associated with the tickets. Usually, these royalties go back to the artist or those that created the ticket art, etc. These fees are automatically sent to the receiver's wallet for every transaction, all visible and verifiable on the blockchain, ensuring the correct payouts are sent.
With archaic ticketing systems, it's extremely difficult to enforce a positive ticketing experience for everyone. Bots infest these platforms, scalping thousands of tickets within seconds. Ticket fraud and scalping continue to rise, stealing billions of dollars from fans year-round. These failed systems make it almost impossible for fans to engage with their idols in any capacity.
With blockchain ticketing from platforms like INSID3RS.io, event organizers and artists can now enforce positive ticketing behavior for all, ensuring the best experience possible for attendees. By implementing these evolved technologies, event organizers will be at the forefront of onboarding non-web3 natives into the decentralized ecosystem.
This pivotal role in the decentralized future is not just about new technology; it's about providing a better experience for everyone involved.