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.

Published by
JP Buntinx

Recent Posts

TMS Network (TMSN): The Unstoppable Wave Overwhelming Arbitrum (ARB) And XRP (XRP) in 2023

Crypto investment has seen a surge in 2023 as new players overwhelm renowned players with…

4 hours ago

With Sparklo (SPRK) To Higher ROI Than XRP (XRP) and Terra Classic (LUNC)

The broader cryptocurrency market has been sluggish for the last few days. Among the top…

6 hours ago

Leading Crypto Activist Explains What Crypto Communities With Grow The fastest After SEC Targets Coinbase and Binance

The recent developments in the cryptocurrency world have undoubtedly sent ripples throughout the entire ecosystem.…

6 hours ago

Kucoin (KCS) and Polkadot (DOT) Enters The Bear Market, While Sparklo (SPRK) Gains More Investors

To stay afloat and maintain its lead over other popular coins, Sparklo has introduced a…

1 day ago

NiFTiesLab Corp Breaks New Ground with HSAC Token: Championing the Attention Economy on Bitcoin’s BRC20 Protocol Amidst Regulatory Uncertainty

Road Town, British Virgin Islands – Hold onto your hats! NiFTiesLab Corp is rewriting the…

1 day ago

TMS Network (TMSN) Revealed as Shocking Crypto Challenging Arbitrum (ARB) and Polkadot (DOT)

The world of crypto sees its share of innovations, with newer platforms and tokens arising…

1 day ago