Crypto

Thousands of EURO 2020 VIP Tickets Will be Tokenized on the Blockchain

Real-world use cases for blockchain technology are not easy to come by. The Football Association, together with AlphaWallet, aims to change that narrative.

Both institutions will experiment with blockchain technology to sell football tickets.

Blockchain Tokenization for Sport Event Tickets

More specifically, tickets for next year’s European soccer championship.

It is believed that up to 20,000 VIP tickets for EURO 2020 will be tokenized on the Ethereum blockchain.

It is the second major partnership for AlphaWallet regarding soccer tickets.

Last year, it partnered with Shankai for the FIFA World Cup. 

The tokenization of sports tickets is not a novel concept, but one that hasn’t gotten much attention in recent years.

Related Post

It streamlines the way that service providers verify tickets.

Rather than relying on a centralized system, this option makes for a more straightforward approach.

Moreover, the blockchain can be used for specific discounts on extra services, without forcing users to register for services individually. 

This is also a viable move to cut down on ticket scalpers.

A lot of people buy multiple tickets for more vents to resell them at a much higher price.  

While that is not illegal, a secondary market for tickets introduces significant risk factors that need to be addressed.

For the time being, it remains to be seen how this venture will pan out. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

OKX Wallet Sees Whales Massive Moves; More on Plus Wallet & Coinbase  

Plus Wallet Impresses with its Speedy 15-Min Token Listings While Coinbase Unveils AI Tool &…

2 hours ago

100% Bonus with BlockDAG! Ethereum Eyes Breakout, Sui Plans To Expand

BlockDAG Rolls Out Limited Time 100% Bonus For Community While Ethereum Price Looks Bullish &…

3 hours ago

Best Crypto Wallets 2024: Top Choices for Security & Rewards

The 5 Best Crypto Wallets Worth Using in 2024 — Find Out Why Selecting a…

4 hours ago

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

11 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

21 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

21 hours ago