As a sports fan growing up Bandwagon founder, Harold Hughes realized being in a venue brought people together from different socio-economic status. He launched his blockchain-based ticket authenticity and fan identity management company to help event organizers connect with people directly. “Fans were using dozens of ticket marketplaces, so we decided to become a B2B marketplace to help organizers make the gameday experience even better,” said Hughes. The data and analytics company helps sports teams, festivals and event organizers know who’s actually there on the day of events in real time. He noted that it’s thought around $2.3 billion is spent each year on fake ticket sales.
Basically organizers only knew the first person who bought the ticket and many times that may not be the same person who shows up to the event. “We use blockchain to update the transaction information when a ticket is sold.” They are also able to verify whether a ticket is real and authentic with this technology, effectively getting rid of fraud in the industry. With blockchain Bandwagon’s solution allows teams, ticket companies, and brands to know who’s at there event to deliver a better valuable fan experience.
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