The online ticketing industry is facing many challenges, such as fraud, scalping, high fees, and lack of transparency. However, blockchain technology can offer a solution that can improve the efficiency and security of e-ticketing platforms. One of the projects that is leveraging blockchain to revolutionize the online ticketing industry is UTIX, a software-as-a-service platform that provides event organizers with free and customizable e-ticketing solutions.
What is UTIX?
UTIX stands as an innovative blockchain-driven online e-ticketing solution. It enables event organizers worldwide, granting them a streamlined process and unprecedented autonomy in ticket sales. Running on the Ethereum blockchain, UTIX sets its sights on eradicating the inefficacies that have long troubled conventional e-ticketing systems. Beyond its resilience against counterfeit threats, UTIX provides a unique way to set secondary market ticket prices, preventing scalping.
How UTIX uses blockchain to improve online ticketing and prevent scalping?
As already mentioned, UTIX is built on the Ethereum blockchain, which allows it to use smart contracts to control and monitor the sale of tickets via its e-ticketing ecosystem. UTIX charges small fees on each ticket sold, which are used to reward users with its native $UTX ERC-20 token. Users can earn $UTX every time they buy tickets through UTIX, and use them to get discounts on future events or trade them on exchanges. UTIX has also registered its Whitepaper with the MFSA (Malta Financial Services Authority) and became one of only 3 digital assets in the world with this level of regulation.
One of the main benefits of UTIX is that it gives event organizers full control over their ticket sales, including the secondary market price. This prevents ticket scalpers from buying tickets in bulk and reselling them at inflated prices. UTIX also reduces the risk of counterfeit tickets by using blockchain’s immutability and transparency. Moreover, UTIX has a simple and user-friendly interface that hides the complexity of blockchain technology from both event organizers and end users.
UTIX has recently announced that its $UTX token will be listed on BitMart, a leading global digital asset trading platform with over 2 million users. This will increase the liquidity and utility of the token, as well as the exposure and adoption of the UTIX platform. The listing will take place on October 31, and BitMart will support $UTX/$USDT and $UTX/$BTC trading pairs.
“We’re thrilled to announce the first listing of our $UTX token, which holds the distinction of being the world’s first MFSA-regulated digital asset. As we scale UTIX to become the dominant platform in the broken e-ticketing market, the listing will increase exposure to the project and $UTIX’s novel utility. BitMart’s massive user base will bring more liquidity to the market and greater value to our community,”
—Max Mayhew, Managing Director of UTIX
A BitMart representative also commented:
“BitMart is proud to become the first major global cryptocurrency exchange to list the $UTX loyalty rewards token. UTIX’s mission to bring new efficiencies to the online ticketing industry is a transformative one that showcases yet another promising use case for blockchain. With $UTIX now available to trade on our platform, it’s a project that’s rapidly approaching maturity,”
UTIX stands at the forefront of transforming the online ticketing industry through innovative blockchain technology. With a commitment to empowering event organizers, eliminating scalping, and enhancing user experiences, UTIX’s Ethereum-based ecosystem provides unparalleled transparency and control. As UTIX’s native $UTX token makes its debut on BitMart, a global digital asset trading platform, the project takes a significant step towards increased liquidity and exposure. UTIX’s vision to revolutionize e-ticketing is not only impressive but also promising, and it aims to redefine the industry’s standards while ensuring fair access to events for all.