Blockchain Ticketing Gets a Boost with Tixbase and Passo’s Avalanche Deal

• Tixbase partners with Turkey’s Passo, bringing blockchain ticketing to Avalanche, enhancing security, transparency, and secondary market oversight.
• The partnership between Tixbase and Passo marks the largest blockchain ticketing deal to date, impacting the $107 billion event ticketing market.
• Avalanche blockchain technology will help Tixbase and Passo tackle ticketing industry challenges, including counterfeits, scalping, and inflated prices.

Blockchain ticketing platform Tixbase has signed a five-year agreement with Passo, a leading Turkish event ticketing firm, to introduce blockchain-based ticketing on the Avalanche network. This partnership, announced on August 29, is the largest of its kind in the blockchain ticketing sector.

Partnership Brings New Solutions to the Ticketing Industry

The collaboration will enable Tixbase and Passo to leverage Avalanche’s blockchain technology to tackle key challenges in the ticketing industry, such as ensuring security, transparency, and improving user experience. The Avalanche network will allow the companies to monitor and regulate secondary market sales while addressing issues like counterfeit tickets, scalping, and inflated prices.

Passo’s Market Reach and Impact on Event Ticketing

Passo, the largest ticketing provider in Turkey, has been managing ticket sales since 2014. The company handles over 25 million tickets annually, catering to various sporting events, concerts, theater performances, and festivals. As the official ticketing partner for 38 teams, including the Turkish National Team and top European football competitions like the UEFA Champions League and Europa League, Passo’s involvement significantly impacts the online event ticketing market, which is projected to reach $107 billion by 2032.

Utilizing TixChain for Compliance and Innovation

The partnership will utilize TixChain, an Avalanche layer-1 chain, ensuring compliance with the European Union’s General Data Protection Regulation (GDPR) and other data privacy laws where it operates. This blockchain-based approach will also support Tixbase in issuing non-fungible tokens (NFTs) for tickets, allowing fans to collect, trade, or sell their digital assets, thereby enhancing fan engagement and loyalty programs.

Largest Blockchain Ticketing Deal to Date

Emil Ljesnjanin, the founder and CEO of Tixbase, expressed excitement about partnering with Passo, describing the deal as a significant milestone that underscores the value of Tixbase’s technology and its potential for global adoption. This agreement represents the largest blockchain ticketing deal ever signed, reinforcing Tixbase’s position as a leader in the blockchain ticketing industry.