Solana
Solana Promotes XP, a Decentralized Alternative to TicketMaster, in Twitter Video
Key points to remember
- The XP platform promises significant savings on ticketing fees.
- The system uses tpNFTs to enhance the security and authenticity of ticket sales.
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Solana has just released a new video to promote XP, a decentralized alternative to TicketMaster. The post focuses on the problems of the American ticket industry and how XP solves the so-called “Ticketmaster problem” with Solana.
Imagine never having to use Ticketmaster again pic.twitter.com/ajKHGbg2MV
— Solana (@solana) July 2, 2024
The video highlights the excessive fees and lack of transparency in ticket pricing, where a $455 ticket to a Taylor Swift show can end up costing $1,088 due to various hidden fees.
The U.S. Senate examined the ticket industry last year, revealing that about 70% of tickets are sold through a single seller, raising concerns about market dominance and fairness, Solana said in a separate statement. job.
Solana believes that XP can solve the current problems of the ticketing industry. XP offers a safe, reliable and affordable way to buy and sell tickets to events.
“XP is revolutionizing the ticketing system by transferring and reselling tickets through Solana,” Solana said. “At the heart of the model, XP encrypts each ticket as an NFT. As non-fungible tokens, tickets can be instantly transferred between users.”
XP tickets are sealed with tamper-evident NFTs (tpNFTs) until the holder decides to resell them. This prevents fraud and ensures that buyers are purchasing a legitimate ticket.
Additionally, by leveraging Solana’s blockchain technology, XP offers significantly lower fees than traditional resale platforms like StubHub, SeatGeek, or Vivid. Solana claims that users save an average of $61 per ticket with XP.
“Tickets are 20 to 30 percent cheaper than resale sites like StubHub and SeatGeek,” Solana said.
Solana believes Ticketmaster XP can disrupt the dominance of the ticketing industry, eliminating the pain points associated with traditional ticket resale and allowing fans to focus on enjoying live events.
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