Tixico is an innovative event management ecosystem which turns tickets into a virtual asset and offers support to event organizers to fund their events. It is unique in all the world as it brings blockchain technology into the event ticketing industry.
Blockchain Technology and smart contracts have found their way into almost every sector of every industry. It was only a matter of time before some forward-thinking company would introduce cryptocurrency and the blockchain into the event ticketing sector. Tixico aims to disrupt the ticketing industry with the announcement of their upcoming ICO Pre-Sale. It is clear that the way ticketing is executed and how events are funded will never be the same.
The market structure as it is today only allowing little to no control over the ticket prices once they are sold at the primary market. Such high-end events usually are sold out to ticket scalpers who resell the tickets with high markups. This means that the organizers miss out on additional revenue they could have gained from the secondary market and potential attendees miss the event altogether because of the high markup price. There is also a potential for fraud in the secondary market in the form of fake or counterfeit tickets. This can lead to a negative reputation for the organizers of these events.
On the other hand, smaller events have different challenges. Such events usually face high financial risks due to unpredictable demand. The barrier to entry for local events to sell tickets is also high. In the end, potential event-goers do not attend the events because they are not relevant to them and the event organizers lose money and stop bringing world-known artists to certain regions.
Tixico has developed a brilliant platform based on smart contracts and blockchain technology. This means that it is owned by nobody and owned by everybody. Smart contracts will eliminate middlemen and their fees while safeguarding that no person or group of people can make changes to the smart contracts.
The Tixico platform is so well thought out that they have already secured partnerships with seven industry leaders before the platform is even launched. Such actions ensure the success of this ICO, and the team is about to announce other partnerships pre and post ICO.
These companies will be among the first to use Tixico once it’s released in 2019, thus guaranteeing that there will be more than 100,000 tickets sold safely and fairly in the first 12 months after the initial launch of the platform.
SynotTip Virslīga: SynotTip Virslīga is the top-tier of club football in Latvia. Starting from 2019 Tixico will be ticketing partner of the league, providing tickets for every match of the season.
FK Liepāja: FK Liepāja is one of the top football clubs in Latvia, being former UEFA Champions League and current UEFA Europa League participants. From 2019 Tixico will be the official ticketing partner of FK Liepāja, in addition to league games, providing tickets to their home games of European and domestic cup competitions.
Passport Productions: Passport Productions is an event planning agency that hosts various local and international music, sports and cultural events. Among their recently organized events are concerts of Grammy-nominated artist Candy Dulfer, 150 million record-selling pianist Richard Clayderman, charity basketball game based around NBA superstar Kristaps Porziņģis, and many others.
Austras Balva: Austras Balva is the Latvian equivalent of the Mercury Music Prize in the UK, an award given to the best album of the year in Latvia. From 2019 onwards, Tixico will be the official ticketing partner of this award.
Tims Mints: Tims Mints is a bar in Riga that almost daily hosts various concerts, art performances, plays, and stand-ups. Although nowadays most of these events are free of charge, in the future Tims Mints plans to host bigger events, and Tixico will provide ticketing for them.
ParaPops: ParaPops is a music PR agency that provides a variety of services for musicians and companies, from publicity to event hosting. Beginning in 2019, Tixico will provide ticketing to events organized by ParaPops.
F*ckup Nights Riga: Fuckup Nights Riga is part of the global movement that hosts regular events during which successful people share stories of their… well… f*ckups and mistakes. In 2019 Tixico will become their official ticketing partner.
An in-depth discussion about the Tixico can be viewed in their Whitepaper here.