Are you aware that 12% of users who try to buy tickets end up getting scammed?
The problem of fake tickets in this massive industry can spell trouble for event organizers as it presents financial risks. Luckily decentralization can help counter similar problems with its transparent, open-source features.
The primary goal of innovators and new-age organizations is to ensure that the entire ecosystem is decentralized to the core. The importance of digital identity has risen ever since the focus has shifted to the highest levels of automation. One such forward-looking organization is PhoenixDAO, a decentralized digital-driven ecosystem with a focus on being open-sourced, the main DeFi principle.
Taking this forward, PhoenixDAO recently unwrapped its forerunner Events dApp paving the way towards a convenient way to bring digital money and NFTs together and allow for mass adoption. With the new move towards launching this events marketplace, the events industry will benefit immensely from PhoenixDAO’s open, transparent, and community-based approach.
What is PhoenixDAO’s Events dApp?
The Events dApp is an innovative Events marketplace that allows users and communities to create events and sell tickets online for the event making it possible to make it either paid or for free. The dApp is powered by both Ethereum Network and the Polygon (previously Matic) Network PoS. By simply creating a wallet, users can begin their interaction with their platform to create or buy tickets. Users have the option of using MetaMask if they do not hold one. See complete user guide here.
The Events dApp is a great solution for nagging problems like ticket duplication and counterfeit tickets sold online. The dApp helps users and organizers of the events with full-proof authentication, linked identity, and much more. Every single event creator and buyer can easily create events and buy tickets in PHNX. The potent solution PHNX-ID will let tickets be connected to your ecosystem identity so that it is easily traceable. Events dApp is a ‘one-of-a-kind’ platform built on ERC-721 standard where tickets so issued are NFT-based and are easily applicable for all events and industries across.
Events dApp Revolutionizing How Events Are Hosted
The PhoenixDAO Events dApp provides a digital identity-based solution to event ticketing. The platform provides a digitized identity system-based ticketing solution that is based on a Polygon side-scaling solution.
PhoenixDAO’s own $PHNX will go a long way in rationalizing and simplifying an alternative platform to event creation, organization. It will be the gateway to the payments ecosystem by being the asset for all transactions for any given event of a project belonging to any industry. The team has said other payment options will be added in the future.
Since the NFT tickets are based on PhoenixDAO’s smart contract and as ERC-721, it ensures immutability as well as transferability for every ticket that is generated in the system. Thanks to this provision, users can easily gift their tickets to whosoever they wish to without sacrificing security.
The impact of decentralization is gradually immersing itself in many industries and this innovation is likely to disrupt the ticketing and events management sector. It will ensure the security of payments, prevent counterfeit tickets from trending and ensure a level playing ground for event organizers and users of all types.
The events management and ticketing industry can benefit from PhoenixDAO’s Events dApp because it will upgrade their ecosystem paving the way towards the growth and progress of the industry. The introduction of the events platform during the pandemic was much-needed considering identity verification and security happens on-chain as people look forward to new events when restrictions ease. This way the current crop of problems in the events industry like duplication, false transactions, and a closed-door approach is harming its existence, the Events dApp will ensure fairness and transparency in every transaction that is made.
The new technology and functionalities of this ecosystem are for the creators of today and will be a step further in revolutionizing the events industry.