Blockchain Marketplace Listia, Ticket Reseller PassageX Partner To Fight Ticket Fraudbr>
Listia is an auction marketplace for giving and receiving free items. Users list items as auctions, and other users bid on these items using credits instead of money. Credits are earned by signing up, giving away items, and being an active member. Listia has developed a reputation system, called Ink Protocol, which is powered by the ethereum blockchain and XNK, an ERC-20 compatible token. The Ink Protocol is designed specifically for P2P marketplace transactions where trust between the buyer and seller may be limited.
PassageX is a new blockchain-powered secondary-ticketing platform that aims to eliminate fraud, high fees, fake tickets, and other problems in the current secondary ticket market. 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.
As part of the partnership, Listia will incorporate event ticket reselling on the Ink Protocol powered marketplaces and allow anyone to buy and sell authentic tickets via Ink Protocol once the PassageX platform goes live. The platform allows for revenue splits through smart contracts, ensuring artists and venues get a fair percentage of the resale.
Alex Linebrink, CEO of PassageX, said that the company’s goal is to put the power back into the hands and of fans and artists, a vision that aligns with Listia.
“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 Linebrink. “Consumers are abused in that market. I think we can make it more fair, more transparent, and lower service charges. The ultimate goal is to make it totally peer-to-peer and eliminate every middle man we can.”
Secondary even tickets are a huge market that traditionally has a lot of fraud, Listia said, adding that they hope this partnership can make buying event tickets easier and fraud-free.
“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.”