Ticketing platform powered by Blockchain

Description

In April 2023, SK Planet, one of South Korea’s largest information and communications technology platforms and Ava Labs, the company behind the Avalanche blockchain, entered into a partnership to expand Web3 infrastructure in South Korea through the launch of a dedicated Avalanche Subnet named UPTN.

The Avalanche Subnet UPTN serves as a foundation for various applications and services, including digital collectibles, Web3 wallets, and decentralized communities. For instance, Dreamus, a South Korean entertainment company and subsidiary of tech giant SK Planet will use the subnet to enhance its popular ticketing app OK Cashbag to improve ticket-buying experience. The goal is to enable a “Blockchain Ticket Total Solution Service,” which will enable easy digital transactions, prevent scalping, curb secondary market abuse, and fix issues with counterfeit tickets.
Dreamus and SK Planet plan to launch a secondary marketplace with added loyalty features. The end goal is to revolutionize the ticketing processes and the overall event experience.

WHY DID SK PLANET CHOSE BLOCKCHAIN TECHNOLOGY?

One of the primary goals of this partnership is to improve the ticketing experience and to gain more market shares of the $230M Korean concert ticket industry. SK Planet intents to fight counterfeits, abuses in the secondary market and provide a better overall experience. Avalanche blockchain is highly customizable thanks to subnets, hence the need to have their own. Using blockchain for will improve the experience for both organisers and fans. SK Planet has the ambition to integrate other services with its UPTN subnet in the future, helping the company get a substantiel competitive egde by staying at the forefront of technological changes.

Benefits & Outcomes
  • New perks and memberships benefits and features powered by the Avalanche Blockchain.
  • Enabling easy digital transactions
  • Circumventing scalping issues
  • Curbing secondary market abuse
  • Fixing issues with counterfeit tickets
  • Improved scalability and interoperability thanks to avalanche subnets
  • Foster sense of community, especially with decentralized communities
  • Improve overall event experience
Links
Further Info

From Avalanche’s official website: “Blockchain-based anti-scalping tickets are phenomenal for fans because they simplify the onsite authentication process, and allow event organizers to greatly improve the overall event experience,” said Gyosu Kim, Chief Business Officer (B2C), SK Planet. “Through our collaboration with Dreamus and Avalanche, we are revitalizing the entertainment industry by vastly upgrading ticketing processes.”

Status

Partnership verified. UPTN Subnet launched in April 2023 and Dreamus partnership for the ticketing platform announced in September 2023. Researched by Alexandre on November 2023

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