- According to Solana, XP leverages blockchain to lower ticket prices and improve market fairness.
- The XP platform offers substantial ticket charge reductions.
- To improve security and authenticity in ticket sales, the system makes use of tpNFTs.
Recently, Solana released a new video to advertise XP, a decentralized TicketMaster substitute. The press statement primarily addresses issues facing the US ticket market and describes how XP employs Solana to address the so-called “Ticketmaster problem.”
In the film, exorbitant costs and opaque ticket prices are emphasized. For example, a $455 ticket to see Taylor Swift perform live could wind up costing $1088 because of different additional fees.
According to a related article by Solana, the US Senate conducted an investigation into the ticket sector last year and found that over 70% of tickets are sold through a single vendor, raising questions about market dominance and fairness.
Solana thinks XP can address the persistent issues facing the ticket market. XP offers a safe, reliable, and reasonably priced platform for purchasing and selling event tickets.
Tamperproof NFTs (tpNFTs) are used to seal XP tickets until the bearer chooses to resale them. This keeps fraud at bay and guarantees that customers are purchasing authentic tickets.
Furthermore, Solana claims that users save an average of $61 per ticket with XP, which offers much lower fees than traditional resale sites like StubHub, SeatGeek, or Vivid thanks to its usage of blockchain technology.
According to Solana, Ticketmaster XP has the potential to upend the dominance of the ticketing industry, removing the issues related to conventional ticket resale and freeing up enthusiasts to enjoy live events.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
