DETROIT – Two online platforms both using blockchain technology to re-invent how people securely resell items, have partnered to offer low-fee and fraud-free transactions to the secondary event ticket market.
Listia, a peer-to-peer marketplace launched in 2009, will soon list event tickets from PassageX on its platform. PassageX, a new project from Passage, Inc. , is a blockchain-powered network that eliminates fraud, high fees, fake tickets and the many other problems that plague the secondary ticket market.
“Over the past nine years, Listia has built an enthusiastic community of more than 10 million people, and the opportunity for those fans to buy and sell event tickets using a marketplace they trust simply makes sense,” said Alex Linebrink, CEO of PassageX. “Our goal with PassageX is to put the power back into the hands and of fans and artists, a vision that aligns with Listia. Blockchain technology lets us do that.”
Currently, PassageX sells secondary tickets for Passage, which has powered primary ticketing sales and payments, both online and at-the-door, for niche events since 2014. With this proof-of-concept software development complete, PassageX expects to have tickets on Listia.com this fall, when it launches the network in full, after completing its token sale.
At launch, PassageX will allow both primary ticketing companies and marketplaces – such as Listia – to use its network for low-fee, 100-percent transparent secondary ticket sales. The network allows for revenue splits through smart contracts, ensuring artists and venues get a fair percentage of the resale.
“We’re thrilled to partner with PassageX to build the most trusted way to buy and sell tickets,” said Gee Chuang, CEO and founder of Listia. “Using our newly developed Ink Protocol, a decentralized peer-to-peer transaction and reputation system for marketplaces, we’ll incorporate PassageX ticket inventory into Ink Protocol-enabled marketplaces such as Listia.”
PassageX is a new secondary-ticketing platform that’s free of fraud, high fees, and unfair revenue splits. Using blockchain technology, the PassageX Network eliminates those problems, while providing fans 100-percent transparency into each ticket sale. PassageX is a project of Passage, Inc., which has powered ticketing and payments, both online and at-the-door, for niche events all over the world since 2014. For more information, check out passagex.com.