Market News- NFT-TiX and Avalanche partnership innovate ticket possession and resale.
- Blockchain technologies are revolutionizing the transparency from the ticketing industry.
Inside a significant development for that ticketing industry, NFT-TiX, a number one event ticketing platform, has announced its partnership with Avalanche, a scalable smart contract platform. Included in this collaboration, NFT-TiX will solely use Avalanche’s blockchain technology to power its Non-Fungible Token (NFT) ticket choices. This partnership extends further with new global festival alliances that are going to redefine the way in which tickets are managed and offered.
Occasions ticketing platform @nft_tix announced they’re solely using Avalanche to power their NFT ticket choices, together with new global festival partnerships!
Let’s dive into why NFT-TiX made the move and why the way forward for NFT ticketing endures #Avalanche 🧵 pic.twitter.com/C9ekz2DWcG
— Avalanche 🔺 (@avax) June 6, 2023
Based on Avalanche’s tweet, the collaboration between NFT-TiX and Avalanche made to tackle two significant challenges. The very first is to deal with systemic issues within the traditional ticketing industry, and the second reason is to leverage a platform technically able to managing NFT transactions at scale.
NFT-TiX’s Blockchain Method of Fair Ticket Prices
NFT-TiX aims to transform ticketing by getting event tickets to the blockchain. This move gives ticket holders full possession legal rights, making certain easy transfer and resale of tickets. The transparency and security provided by blockchain technology might help combat common issues like ticket fraud and exorbitant resale prices.
Furthermore, integrating blockchain technology in to the ticketing industry brings greater transparency, that has lengthy been missing. Every transaction, from issuance towards the transfer or resale of tickets, documented on an open ledger. This criminal record offers unparalleled transparency, which makes it extremely difficult to control the machine.
Utilizing the strength of Avalanche’s Platform
Avalanche selected because the exclusive platform for NFT-TiX because of its capability to efficiently handle high volumes of NFT transactions. Additionally, Avalanche’s unique consensus protocol and platform architecture can process transactions rapidly without compromising security or decentralization. This will make it a perfect platform for NFT-TiX, because of the massive where ticket transactions occur, especially during major occasions and festivals.
To conclude, this partnership marks a substantial part of this direction and could help as a blueprint for other industries exploring the potential for NFTs. With NFT-TiX’s innovative solution and Avalanche’s robust platform. The ticketing industry poised for any seismic shift regarding transparency, scalability, and user possession.
